Financial Aid Disclosures

Geneva College’s FY 2021 cohort default rate for federal student loans of 0.00%

The cohort default rate represents the percentage of borrowers from a school who begin repaying their federal student loans in a specific federal fiscal year (October 1 to September 30) and default or meet other specified criteria before the end of the second following fiscal year. Each year, the U.S. Department of Education calculates default rates for post-secondary institutions participating in federal student aid programs. We are proud that Geneva College has a low default rate and are excited to share this achievement with both current and prospective students.

How to Apply for Aid:

To apply for financial aid, students must complete the FAFSA at studentaid.gov for the relevant academic year. Prospective students not filing the FAFSA should contact their Admissions Counselor, and returning students who previously filed but don't plan to this year should contact the financial aid office to waive the FAFSA. Failure to file the FAFSA means students are ineligible for need-based Geneva aid.

Important Financial Aid Documents:

To complete any necessary requirements for financial aid at Geneva College, log you’re your financial aid portal at finaid.geneva.edu using the username and password you previously created. Then click on "Requirements" to download and upload necessary documents.

Students Rights and Responsibilities with Financial Aid:

Students can review their rights and responsibilities of financial aid in their financial aid portal at finaid.geneva.edu. Remember, the borrower is responsible to repay any loans they take out.

In addition to specific rights and responsibilities, Financial Aid Policies are located here: https://www.geneva.edu/financial-aid/resources. Student Account Policies are located here: https://www.geneva.edu/student-accounts/policies.

Method and Criteria for Selecting Alternative Loan Programs:

Geneva has a private lender list located at elmselect.com. Geneva College does not recommend one loan over another, nor do we accept any prohibited incentives from lenders to be put on the lender list.

See the Code of Conduct surrounding private loans listed here: https://www.geneva.edu/financial-aid/pdf/financial-aid-code-of-conduct.pdf.

The Private Loan Programs on elmselect.com is not a list of preferred lenders, rather a list of lenders students have used in the past and or have provided information to us regarding their available loans. Students can use any lender, they do not need to be listed on the lender list provided.

Entrance Counseling for Student Borrowers:

Information and full instructions on Federal Direct Loan Entrance Counseling can be found on your student financial aid portal. Once the Entrance Counseling is open for the year you are applying for, you complete the actual Entrance Counseling by logging in with your FSA ID at https://studentaid.gov/entrance-counseling/. See your portal for the step by step instructions and be sure to put the Geneva school code 003267.

Federal Loan Repayment:

Students who have borrowed Federal Direct Loans are required to complete Exit Counseling at https://studentaid.gov/exit-counseling/. Exit Counseling will share information about loan repayment and different repayment options so you can choose the one that best suits your needs.

Parent PLUS Loan Annual and Aggregate Limits

Beginning July 1, 2026, parent(s) may borrow up to $20,000 per year per dependent student through the Parent PLUS Loan program. A new aggregate limit of $65,000 per dependent student will also apply. This aggregate limit is calculated without regard to amounts that have been forgiven, repaid, canceled, or discharged.

Legacy provision: If a student received any Federal Direct Loan prior to July 1, 2026, while the dependent student while continually enrolled in their credentialed program, the parent may continue borrowing under current Parent PLUS loan limits. This eligibility extends for up to three academic years or for the remainder of the student’s expected time to complete the credential, whichever period comes first.

Graduate PLUS Loan Program

Effective July 1, 2026, the Graduate PLUS Loan program will be eliminated.

Legacy provision: Graduate students who received any Federal Direct Loan prior to July 1, 2026, while continually enrolled in their credentialed program may continue to borrow through the Grad PLUS program for up to three academic years or the remainder of their expected time to credential, whichever period comes first.

Undergraduate Students

There are no changes to the annual or aggregate loan limits for Federal Direct Subsidized and Unsubsidized Loans for dependent or independent undergraduate students. However, beginning with summer 2026, annual loan amounts must now be prorated by a schedule of reductions based on the percentage of full-time enrollment status.

Graduate Students

Effective July 1, 2026, annual loan limits will be capped at $20,500 for graduate students and $50,000 for professional students*. Aggregate loan limits will be capped at $100,000 for graduate students and $200,000 for professional students. These limits do not include amounts borrowed as an undergraduate.

Students who enroll as both graduate and professional students at any point during their educational careers may borrow no more than a combined total of $200,000 for graduate and professional study. The overall lifetime borrowing limit for all federal student loans is $257,500, excluding Parent PLUS loan amounts.

Legacy provision: Graduate and professional students who received a Federal Direct Loan prior to July 1, 2026, while enrolled in a credentialed program may continue borrowing under current loan limits for up to three academic years or the remainder of their expected time to credential, whichever is less.

Schedule of Reducations: Effective summer semester 2026, annual loan amounts must now be prorated by a schedule of reductions based on the percentage of full-time enrollment status.

* Geneva College does not currently offer programs that meet the federal definition of professional degree programs. With the exception of the Clinical Psychology doctorate, the professional degree designation has historically served as an academic classification only. Effective July 1, 2026, this federal classification is also used to establish separate federal student loan borrowing limits.

A professional student is defined under 34 CFR 668.2 as a student enrolled in a program that leads to a professional degree. Examples include Pharmacy (PharmD), Dentistry (DDS or DMD), Veterinary Medicine (DVM), Chiropractic (DC or DCM), Law (JD or LLB), Medicine (MD), Optometry (OD), Osteopathic Medicine (DO), Podiatry or Podiatric Medicine (DPM, DP, or PodD), Theology (MDiv or MHL), and Clinical Psychology (PsyD or PhD).