Private Alternative Loans
Private alternative loans come from a private lending institution,
like a bank. If you are declared ineligible for Federal aid or you
require additional funds after Federal aid and assistance from
Shippensburg have been provided to you, you may apply for these kinds of
loans. They are classified as non-need, are typically issued in your
name, and they require a cosigner.
Shippensburg University does not offer a list of recommended lenders
for private alternative loans. However, we recommend that you compare
between 6 to 10 lenders when shopping for an alternative student loan.
ELM SELECT LIST
For your convenience, you can review and compare alternative lenders and the products they offer on the ELM Select List.
This list represents lenders that Ship students have used in the
past. We do not endorse any one particular loan program, and you may
select a lender that does not appear on this list. Lending institutions
are solely responsible for posting and updating their information on ELM
If you are an alternative student loan borrower, Federal regulations
require you to complete, sign, and return an Applicant
Self-Certification Form to the Financial Aid Office before loans can be
You should receive the form from your chosen lender as part of your
application process; however, it’s also available for your convenience
as a PDF. Follow these instructions to complete the form:
- To Complete Item A of Section 2, please review our Tuition, Fees, and Housing costs.
- To Complete Item B of Section 2, please visit Ship's Financial Aid Portal.
- To Complete Item C of Section 2, subtract Item B from Item A to
estimate how much loan assistance you may be eligible to receive. Your
loan will still require school certification.
Already a current student at Ship and need information about your
financial aid package? Log onto your myShip portal. And be sure to check
out the helpful links below about paying for college.