Alternative Student Loans
Students who are ineligible for federal aid - or students who need additional funds after federal and institutional aid have been awarded - may need to apply for an alternative student loan. An alternative or private student loan is a non-federal educational loan offered by a private lending institution. These loans are typically issued in the student's name and require a cosigner. In order to comply with federal regulations, Shippensburg University is no longer offering a preferred lender list for alternative student loans. However, we recommend that you compare between six to ten lenders when shopping for an alternative student loan.
NEW SELF-CERTIFICATION FORM:
Federal regulations now require alternative student loan borrowers to complete, sign and return an Applicant Self-Certification form to their lender before loan funds can be disbursed. This form is intended to promote informed borrowing and provide information about financial aid, in addition to providing lenders with information about educational expenses and other aid. Students should receive this form from their chosen lender as part of the application process; however, a copy of the form is also available for your convenience at the following link (completion instructions are also available below):
Applicant Self-Certification Form [PDF]
- To Complete Item A of Section 2 of the self-certification form, please review SU's Cost of Attendance information under the Tuition & Costs link.
- To Complete Item B of Section 2 of the self-certification form, please visit SU's aid portal:
Financial Aid Portal
- To Complete Item C of Section 2 of the self-certification form, subtract Item B from Item A. The result is an estimation of how much loan assistance you may be eligible to receive. NOTE: Your loan will still require school certification.
Private Educational Loan Options
The following is an alphabetically arranged list of private lenders that students have recently used at Shippensburg University. Shippensburg University does not endorse a particular lender and students are free to choose any lender, including ones not listed below. Basic lender qualifications require students to enroll in a degree-granting program, maintain Satisfactory Academic Progress (SAP) requirements, and be enrolled at least half-time (6 semester credits) except where otherwise indicated.
American Heritage Federal Credit Union
AmeriChoice Federal Credit Union
ARC Federal Credit Union
Bellco Federal Credit Union
*Chase - Please note: Beginning July 1, 2012, Chase will offer private student loans only to existing customers with a Chase checking or savings account, loan, mortgage, credit card or an existing Chase private or FFEL student loan. May apply as a non-degree student, may apply if enrolled less than half-time, SAP is not an eligibility requirement
*Citizens Bank – Maintaining SAP is not an eligibility requirement
DEXSTA Federal Credit Union
Discover Student Loans
Discovery Federal Credit Union
Eli Lilly Federal Credit Union
First Capital Federal Credit Union
Glatco Credit Union
Heritage Valley Federal Credit Union
Member's 1st Federal Credit Union
Merck Sharp & Dohme Federal Credit Union
NASA Federal Credit Union
New Cumberland Federal Credit Union
* NJCLASS - The New Jersey College Loan to Assist State Students (NJCLASS) offers a low cost supplemental loan. Available to NJ residents attending any college or students attending a New Jersey College, NJCLASS can help you pay college costs not already covered by other sources of grants, scholarships or loans.
Patriot Federal Credit Union
PNC Bank - Maintaining SAP is not an eligibility requirement
*Sallie Mae - May apply as a non-degree student, may apply if enrolled less than half-time, SAP is not an eligibility requirement
*Sun Trust Bank - Maintaining SAP is not an eligibility requirement
Superior Credit Union
*Union Federal - Maintaining SAP is not an eligibility requirement
*Wells Fargo - Undergraduate students may apply if enrolled less than half-time, SAP is not an eligibility requirement. Graduate students may apply if enrolled less than half-time, but must maintain SAP.