Alternative Student Loans
Students who are ineligible for federal aid, or students who need additional funds after federal and institutional aid have been awarded, may choose to apply for an alternative student loan. An alternative loan is a non-federal educational loan offered by a private lending institution. These loans are typically issued in the student's name and require a cosigner.
ELM SELECT LIST
It is recommended that you compare multiple loan products when shopping for an alternative loan. You may review and compare alternative lenders and the products they offer on the ELM Select list.
This list is offered for your convenience and represents lenders and products Ship students have used in the past. Shippensburg University does not endorse a particular loan program and students may select a lender of their choice, including those not found on the ELM Select list. Lending institutions are solely responsible for posting and updating their information with ELM Select.
Federal regulations now require alternative student loan borrowers to complete, sign and return an Applicant Self-Certification form to their lender before loan funds can be disbursed. Students should receive this form from their chosen lender as part of the application process; however, a copy of the form is also available for your convenience at Applicant Self-Certification Form [PDF]. Completion instructions follow:
- To Complete Item A of Section 2 of the self-certification form, please review SU's Cost of Attendance information under the Tuition & Costs link.
- To Complete Item B of Section 2 of the self-certification form, please visit Ship's Financial Aid Portal.
- To Complete Item C of Section 2 of the self-certification form, subtract Item B from Item A. The result is an estimation of how much loan assistance you may be eligible to receive. NOTE: Your loan will still require school certification.