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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.


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 Select.


If you are an alternative student loan borrower, Federal regulations require you to complete, sign, and return an Applicant Self-Certification Form to the lender before loans can be disbursed.

You should receive the form from your chosen lender as part of your application process.  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 offer? Log onto your myShip portal. And be sure to check out the helpful links below about paying for college.