Understanding your Award Letter

• Award Letters are only mailed to New Freshman and Transfer students.

• Returning students are to check the SAP Student Portal.

Award letters indicate your eligibility for the aid programs.   All awards are based upon eligibility which is calculated using the information you provided on your  Free Application for Federal Student Aid (FAFSA).

This aid offer is based on Fulltime attendance.  Please contact the Financial Aid Office if you will not be taking at least 12 credit hours in each semester.

Description of Aid:

Federal Pell Grant and Federal SEOG (Supplemental Educational Opportunity Grant): These are federal grants that do not have to be repaid.

PHEAA State Grant: This is a grant for Pennsylvania residents and does not have to be repaid.  Award amounts on award letters and the SAP Student Portal are estimates until official notification is sent by PHEAA.   If you do not receive notification directly from PHEAA, your award on our letter is only an estimate.

Federal Perkins Loan: A loan that must be repaid with interest (currently 5%).  The loan is interest-free until you enter repayment.  You must sign a promissory note before any funds will be disbursed.  If you accept this loan, you will be sent a notice instructing you when and where to sign the promissory note.

Federal Stafford Loan: A loan from a participating lender.  If a Federal Stafford Subsidized Loan and/or a Federal Stafford Unsubsidized Loan is listed on your award letter, it is only an estimate of what you may be eligible to borrow.
If you would like to receive a Federal Stafford Loan and you have selected AES as your guarantor, you must complete a Master Promissory Note at www.aessuccess.org.

Subsidized Stafford Loan:  A need-based loan for which the government pays the interest on the loan while you are in school. Repayment and interest begins six months after leaving school or graduating.

Unsubsidized Stafford Loan:  The student is responsible for the interest on the loan.  You have the option to either pay the interest while in school, or have the interest capitalized (deferred) until six months after leaving school or graduating. You will be asked your preference when you complete your Master Promissory Note.

The amount borrowed under the Federal Stafford Loan program will be issued via electronic funds transfer to Shippensburg University.  Loans are disbursed in two equal disbursements over the course of the loan period.  The funds are generally received within the first few weeks of the semester.

Federal Parent Loan for Undergraduate Students (PLUS): This is a loan that one of your parents may apply for to help with educational costs.  This loan does require a credit check.  If your parent is denied a PLUS loan you may be eligible for additional Federal Stafford Unsubsidized Loan (contact the aid office for amounts).   PLUS Loans CAN NOT be used as a credit toward a bill unless the loan has already been approved.

Student Employment: This is an on-campus job working 8-10 hours per week.  Your assigned employer will contact you and provide training for the position.  Student employment is intended to assist in paying for books and personal expenses.  It cannot be used as a credit on the billing statement.

Other Aid NOT Appearing on Your Award Letter: If you will be receiving any other aid from an off-campus source (such as a private scholarship, grant, or another type of loan), you must provide written confirmation of this aid to the Financial Aid Office as soon as possible.  It is important that you report the source of the aid and the amount of the aid because this could impact upon your eligibility to receive the other awards listed on your award letter.

Cost of Attendance

The Financial Aid Office uses an estimated costs of education based on fulltime enrollment for one academic year (two semesters).  The budget consists of direct charges paid to the university such as Tuition, Student Fees and room and meal plans if living on campus.

DIRECT COSTS

Actual tuition and fees are listed on the Student Accounts Webpage

Students living on campus must pay for room and a meal plan.  Actual meal charges may be viewed here. Off campus and commuter students may select a meal plan if they wish.

INDIRECT COSTS

These are costs that you DO NOT pay directly to the university.  The Financial Aid Office uses these estimated costs when determining aid eligibility.  Travel to and from campus, books and supplies and other personal expenses will vary from student to student.  The Financial Aid Office uses an average cost for each cost.

Other Estimated Costs

The figures listed for books and supplies, transportation and personal expenses are estimates and will vary among students. These expenses ARE NOT paid directly to the University.

Making Satisfactory Academic Progress:

Federal and State regulations require that you make satisfactory academic progress toward the completion of a degree.  Please see the minimum requirements listed on our web page as well as in the Financial Aid section of the Undergraduate Catalog.

Please feel free to contact us at 717 477-1131 if you have any questions concerning your award letter or applying for Stafford or PLUS loans.