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Financial Aid Disclosures


The following Financial Aid Disclosures are provided to benefit current and prospective student and their parents. Knowledgeable individuals are able to make informed decisions about their role, their actions, and their responsibilities within the community. Included are key items disclosed in accordance with the federal Higher Education Act of 1965, as amended by the Higher Education Opportunity Act of 2008 (HEOA).

  • Contact Information
  • How to apply for Financial Aid
  • Important Financial Aid Documents
  • Financial Aid Requirements and Deadlines
  • Student Rights and Responsibilities with Financial Aid
  • Financial Aid Award Guide

  • Tuition and Fees
  • Net Price Calculator
  • Federal Grants
  • Federal Loans
  • Federal Work Study
  • State Programs
  • Geneva College Aid Programs

  • Education Benefits for Veterans
  • Private Scholarships
  • Private Loan Programs
  • Method and Criteria for Selecting Alternative Loan List
  • Loan Default Rate

  • Truth in Lending Act (TILA) and Loan Self-Certification Form Information
  • Entrance Counseling for Student Borrowers
  • Federal Loan Repayment
  • Financial Aid Refund Policy and Return to Title IV
  • Tuition Fees Room and Board Refund Policy
  • Payment Options

  • Study Abroad
  • Financial Aid Code of Conduct
  • Satisfactory Academic Progress - Related to Financial Aid

 

Additional Information

Loan Consolidation

Direct Loan Consolidation gives you the opportunity to combine multiple federal loans into one new loan. This will allow you to have one monthly payment if you have federal loans with multiple servicers. There are pros and cons to this option, and the Financial Aid Office is happy to discuss them with you. For additional information on federal loan consolidation check with your servicer or visit studentaid.gov.

Loan Cancellation

Cancelation can also be called forgiveness or discharge depending on the reason behind it. This means you are no longer responsible to pay all or part of your loan. Be sure you have the amount and cancelation details confirmed and organized so that you can take part in the program. For more information and details on the types and requirements for cancellation, please check with your servicer or visit: studentaid.gov.

Loan Deferment and Forbearance

This allows the borrower to temporarily stop making payments, or to reduce the amount of the payments they are making on your Federal Direct Loans. This may help the borrower avoid default with federal loans. For more information, please check with your servicer or visit studentaid.gov

Exit Counseling for Student Borrowers

All Direct Loan borrowers are required to complete the Federal Direct Loan Exit Counseling Process online at https://www.studentaid.gov/ within 15 days of when they are no longer enrolled at least half time. The student should include Geneva as the school they are exiting. This process should be completed even if the student is enrolling in a different school. In addition, Federal Perkins Loan borrowers should complete exit counseling through Heartland ECSI at heartland.ecsi.net.

Complaints Regarding Student Loans

If you have a concern or complaint about any of your Federal Direct Loans, please contact Student Financial Services at finaid@geneva.edu. If it is a federal issue, you can also contact Federal Student Aid by submitting a form at studentaid.gov feedback center.

 

External Links

College Navigator

http://nces.ed.gov/collegenavigator

US Department of Education

https://www.ed.gov

Federal Student Aid

https://www.studentaid.gov
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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.

More Information on Cohort Default Rates
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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.

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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.

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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.

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Method and Criteris 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.

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Entrance Counseling for Student Borrowers:

Information and full instructions on Federal Direct Loan Entrance Counseling can be found on your student fincial 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.

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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.


site://geneva.edu/financial-aid/financial-aid-disclosures

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