Types of Aid:

Highlights

News

The Federal School Code for Shippensburg University is 003326.

Parents and students have the right to select any FFEL lender or guarantor or any private loan lender for the 2009-2010 academic year.  Please visit www.aessuccess.org or the aid portal for a lender list.  A comprehensive list is available upon a phone call request. 

Dates & Deadlines

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

 

Contacts

Please use the email address for general financial aid questions only.  Due to federal privacy laws, we ask that you call 717-477-1131 for individual student information.
finaid@ship.edu

 

Related Links

info@ship

Go to FAFSA

Academic Calendar

Semester Information

How to Pay for College (college.gov)

 
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Loan Programs

Various Loan programs are offered through numerous lending agencies (not through Shippensburg University). A separate application is required to these loans after filing the FAFSA. The following is a summary of the loan programs. Detailed information is also available through the PHEAA web site.

Loan Program Summary

Please feel free to contact us at the addresses below or to consult with the program coordinators listed on this site.

Program Basis Annual Award Remarks
Federal Perkins Loan Need  $400 - 2,600 Awarded based on need analysis
Federal Stafford Loan

Need/Non-need

 depends on class standing See Below
Federal Plus Loan - Up to cost of education less other aid received Federal plus loan application required. Must complete Free Application for Federal Student Aid (FAFSA)
Alumni Student Loan Need Up to tuition costs Available to academically outstanding students
Bush Student Loan Need Up to tuition costs Available to academically outstanding students

Federal Perkins Loan

The Federal Perkins Loan is a low interest loan (5%) and is interest free to the student while enrolled in school. A limited amount of funds are available for students with high financial need. The information provided on the FASFA will be used to determine student eligibility. Awards vary from $400 to $2,600 based on need and fund availability.

Federal Stafford Loan

The Federal Stafford Loan is available for students through participating lenders . There are two types of Federal Stafford Loans: subsidized and unsubsidized. The subsidized loan is interest free while the student is in school, and is awarded based on financial need. 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. The unsubsidized loan is a non-need based loan program. There is an 8.25% cap on the Federal Stafford loan.

The maximum Federal Stafford Loan per academic year is:

  • for dependent freshmen (0-29 earned credits): $5,500 ($3500 subsidized)
  • for dependent sophomores (30-59 earned credits): $6,500 ($4500 subsidized)
  • for dependent juniors & seniors (60+ earned credits): $7500 ($5500 subsidized)
  • for Graduate students : $20500 (8500 subsidized)
  • An independent student may borrow an additional $4,000 Federal Unsubsidized Stafford Loan per year as a freshman or sophomore, and an additional $5,000 Federal Unsubsidized Stafford Loan per year as a junior or senior. To be eligible for a loan, a Student must be in a degree program and enrolled in at least 6 credit hours per semester.

    Stafford Loan Limits  (beginning 7/1/09)

    The chart below provides information about the maximum loan amounts for which you may be eligible. Federal regulations will not allow total aid to exceed the cost of attendance.

Annual Federal Stafford Loan Limits
Subsidized/ Unsubsidized Loan Eligibility for Dependent Students*
 Subsidized/Unsubsidized Loan Eligibility for Independent Students
1st Year Undergraduate
Full Academic Year $5,500 ($3500 subsidized) $9500 ($3500 subsidized)
Less than a Full Academic Year Prorated Prorated
2nd Year Undergraduate
Full Academic Year

$6,500 ($4500 subsidized)

$10,500 ($4500 subsidized)
Less than a Full Academic Year Prorated Prorated
3rd, 4th, or 5th Year Undergraduate

Teacher Certification

$7500 ($5500 subsidized)

 $12500 ($5500 subsidized)
Full Academic Year $7500 ($5500 subsidized) $12500 ($5500 subsidized)
Less than a Full Academic Year Prorated Prorated
Graduate or Professional Student Not Applicable $20500 ($8500 subsidized)
Total Borrowing Allowed
(sum of all years)
Dependent Undergraduate $31,000 ($23,000 max subsidized)  
Independent Undergraduate* $57,500 ($23,000 max subsidized)  
Graduate/Professional $138,000 ($65,000 max subsidized) (includes borrowing on an undergraduate level)
* Dependent students whose parents are determined ineligible for the Federal PLUS loan may borrow the additional Unsubsidized Federal Stafford loan. These are processed on a case by case basis through the Financial Aid Office.

Source: http://www.pheaa.org/

Instructions

Federal PLUS Loan

The Federal Plus Loan is available for parents of undergraduate students. A parent may borrow up to the cost of attendance less any other financial aid received. It is currently at a fixed 8.50% interest rate. Visit www.aessuccess.org to apply online.