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Importance of Debt Management

It is very important for you to manage your debt appropriately. If you enter into default on your student loans you will...

    • Lose your eligibility to receive federal financial aid in the future


    • Lose the ability to make payments on your loan, as the entire loan will be due in full 


    • Risk incurring collection costs (up to 25% of your student loan)


    • Damage your credit history for up to seven years, which could prevent you from purchasing a car or a home


    • Risk garnishment of wages, which means your employer could be required to forward 15% of your wages to your lender


  • Risk losing income tax refunds, which could be withheld and forwarded to your lender


Contact the Financial Aid Office

101 Old Main, 1871 Old Main Drive, Shippensburg, PA 17257 Phone: 717-477-1131 Fax: (717) 477-4028
Fall & Spring Terms: Monday - Friday 8:00 AM - 4:30 PM / Summer & Winter Terms: Monday - Friday 8:00 AM - 4:00 PM