Types of Aid:

Highlights

News

The Federal School Code for Shippensburg University is 003326.

Students should complete an electronic Master Promissory Note (eMPN) in order to borrow a Federal Direct Loan or a Federal Direct Graduate PLUS Loan at www.studentloans.gov.

Parents may complete an eMPN in order to borrow a Federal Direct Parent PLUS Loan after May 31 at www.studentloans.gov.

Dates & Deadlines

Prospective and returning students should complete the FAFSA as soon as possible.

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Contact Us

Due to federal privacy laws, you must call (717) 477-1131 for individual student information.

General financial aid questions can be addressed by e-mail at finaid@ship.edu. Please provide the student's Shippensburg University ID (if applicable) in all e-mails. 

Fax: (717) 477-4028

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Related Links

Go to FAFSA 

Academic Calendar 

Semester Information 

How to Pay for College (college.gov) 

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Federal Direct Loan

If you are a new borrower of a Federal Direct Student Loan ("new borrower" means you don't have any other Federal Direct Student Loans outstanding as of 7/1/13) you need to be aware of a new federal regulation governing Federal Direct Subsidized Loan benefits.  Please read here.

In order to receive a Federal Direct Loan, all students must complete a Master Promissory Note (eMPN) First-time loan borrowers must also complete the Entrance Counseling requirement. 

The Federal Direct Loan website is www.studentloans.gov.

There are 2 types of Federal Direct Loans:

  • Subsidized: The subsidized loan is interest free while the student is enrolled in school and is awarded based on financial need.  
  • Unsubsidized: The unsubsidized loan is a non-need based loan program. Interest accrues on the unsubsidized loan while the student is enrolled in school. The borrower may opt to pay it as it accrues, or allow it to accrue and capitalize.

Current interest rates for the Federal Direct Loan program can be found here.

Current loan origination fees for the Federal Direct Loan program can be found here.
 

Direct Loan Limits

The chart below provides information about the maximum loan amounts for which you may be eligible per academic year. Students will automatically be offered the maximum allowable loan limit per year. It is the student's responsibility to accept the loan type and amount that best meets their financial requirements. If loan changes are necessary please see the Loan Changes section below the chart for further details. Please note loan eligibility may decrease if a student receives other financial aid that is used to cover a portion of educational costs. Federal regulations will not allow total aid to exceed the cost of attendance. Graduate students should be aware that a graduate assistantship tuition waiver might reduce loan eligibility.

Annual Federal Direct Loan Limits Base Loan Eligibility* Additional Unsubsidized Loan Amount
Undergraduate Level - Dependent Students 
Students with 0-29 earned credits (Freshman)

$3,500

$2,000

Students with 30-59 earned credits (Sophomore)

$4,500

$2,000

Students with 60-89 earned credits (Junior)

$5,500

$2,000

Students with 90+ earned credits (Senior)

$5,500

$2,000

Teacher Certification or Second Bachelor's Degree

$5,500

$2,000

Undergraduate Level - Independent Students and Dependent Students whose Parents were Denied PLUS 
Students with 0-29 earned credits (Freshman)

 $3,500

$6,000

Students with 30-59 earned credits (Sophomore)

$4,500

$6,000

Students with 60-89 earned credits (Junior)

$5,500

$7,000

Students with 90+ earned credits (Senior)

$5,500

$7,000

Teacher Certification or Second Bachelor's Degree

$5,500

$7,000

Graduate or Professional Student 

$20,500 (ALL unsubsidized)

Total Borrowing Allowed (sum of all years)
Dependent Undergraduate $31,000 ($23,000 max subsidized)  
Independent Undergraduate or Dependent Undergraduate with PLUS Denial $57,500 ($23,000 max subsidized)  
Graduate/Professional $138,500 ($65,000 max subsidized) (includes borrowing on an undergraduate level)
* Base Loan Eligibility may be either subsidized or unsubsidized as determined by student's need on the FAFSA

Undergraduate and graduate students MUST be enrolled in at least 6 semester credits at the end of drop/add period to receive Federal Direct Loan. Students enrolled in less than 6 credits are considered less than half-time and may apply for an Alternative Loan to cover the cost of education.

Loan Changes

Students requesting a change to their Federal Direct Loan must submit a completed Pre-disbursement Loan Change Form to the Financial Aid Office.