As a member of Pennsylvania's State System of Higher Education, Shippensburg University can offer you a quality education at a surprisingly affordable cost. However, many qualified students still need financial aid in order to attend college. Shippensburg University awards extensive financial aid to students who desire a college education, but cannot pay the full cost.
 

How much will you pay?

If you would like the Financial Aid Office to calculate an estimated financial aid package for you for the 1999-2000 academic year, complete the Shippensburg University Financial Aid Estimator located at the end of this brochure. This estimator is intended to provide the Financial Aid Office with the information necessary to perform an estimated need analysis before the actual financial aid applications become available on January 1.

Therefore, submit the estimator to the Financial Aid Office by December 31, 1998. (Note: The estimator does not replace the actual application! To apply for financial aid, you will still need to complete a 1999-2000 Free Application for Federal Student Aid after January 1, 1999).
 

**These figures reflect the direct costs of attending Shippensburg University. They only include the estimated amount you will be billed for tuition, fees, room and board. These figures do not include the cost of books and personal expenses. For purposes of awarding financial aid, we estimate your books will cost $550 per year, and your personal expenses will be $1,694. Therefore, we estimate a total cost of attendance of $10,602 for instate students and $15,958 for outofstate students.

Types of Financial Aid

Almost every student can receive some type of financial assistance. If you are admitted to SU, are a U.S. citizen or an eligible noncitizen, are not in default on any previous student loans, and are in compliance with Selective Service registration requirements, you will be eligible for some type of financial aid. Contrary to popular belief, students are not immediately excluded from consideration if the family's income is "too high." Every applicant is different; a lowincome student may qualify for grants, workstudy, and loans, while a wealthier student may qualify only for student and parent loans. Everyone who meets the criteria listed above will qualify for financial aid; the family's financial situation will determine what kind of aid it will be.

Grants: Grants are monies made available by state and/or federal governments. Grants do not need to be repaid. The amount of a grant depends upon your degree of financial need, available funding, and program limits.

Loans: Loans are made available by state and/or federal governments. They must be paid back. In some cases interest is not charged until after graduation. The rate of interest depends on the type of loan borrowed.

Employment: Student employment programs are funded with state and federal dollars. Many students find employment opportunities related to their major field of study and gain valuable practical experience.

Scholarships: Scholarships are funded by foundations, community, religious, civic, or business organizations. They often are awarded on the basis of excellent academic or extracurricular accomplishments, and not on the basis of financial need alone. For a listing of scholarships offered at Shippensburg University, consult the scholarship section of this brochure. You are also encouraged to do research at your local library and in your community for outside, private scholarship sources.

Grants

The Supplemental Educational Opportunity Grant (SEOG) is awarded to the neediest students. Awards vary depending upon fund availability and financial need. The results of your Free Application for Federal Student Aid (FAFSA) must reach the Financial Aid Office by May 1, 1999 in order for you to be considered for this grant.

The PHEAA Grant is awarded by the Commonwealth to needy Pennsylvania residents who are attending college. Apply for this grant by completing the FAFSA by May 1, 1999.

Loans

The Federal Stafford Loan is a longterm, lowinterest loan authorized by the federal government for the educational expenses of students who are enrolled at least halftime. Students borrow the loan from a private lender (participating bank or credit union).

There are two types of Stafford Loans. The subsidized Stafford Loan is interestfree to the student while in school. On the unsubsidized Stafford Loan, the student is charged interest while enrolled in school. The student may opt to pay it as it accrues, or allow it to accrue and capitalize. The interest rate is variable annually, with a cap of 8.25 percent. Repayment of both principal and interest begins six months after the student leaves school.
Any student can qualify for a Stafford Loan, regardless of financial need. The family's income and financial situation will determine if the applicant qualifies for a subsidized and/or an unsubsidized loan. Needier students generally qualify for subsidized loans, while less needy students qualify for unsubsidized loans. Between the two programs, a dependent student may borrow up to $2,625 per academic year as a freshman (029 credits completed); up to $3,500 per academic year as a sophomore (3059 credits completed); and up to $5,500 per academic year as a junior or senior (60 or more credits completed). Independent students may borrow an additional unsubsidized Stafford Loan if necessary (up to $4,000 per year as a freshman or sophomore, and up to $5,000 per academic year as a junior or senior).

The Federal PLUS Loan allows parents of dependent students to borrow up to the total cost of attendance, less any other aid received. Parents borrow the loan from a private lender (participating banks and credit unions).

The interest rate on the PLUS Loan is variable, with a cap of 9 percent. Repayment of principal and interest begins 60 days after disbursement, generally with a 510 year repayment period.
 

Program	Basis of Award	Amount of Annual Award	Application Deadline	Remarks
Grants
PHEAA Grant	Need	Varies	May 1, 1999	PHEAA must receive the FAFSA by May 1
Federal PELL Grant	Need	Maximum $2,700	May 1 , 1999	Federal funds
Federal SEOG Grant	Exceptional need	Average $300	May 1 , 1999*	awarded are based on the need analysis
Loans
Federal Perkins Loan	Need	Average $1,000	May 1, 1999 *	Federal funds awarded are based on the need analysis
Federal Stafford		Up to $2,625 in fr. yr., up to $3,500 in so. yr., up to $5,500 in jr./sr. yrs.	Apply 4-8 weeks prior to the start of enrollment period
Federal Plus Loan		Up to cost of education less other aid received	Apply 4-8 weeks prior to the start of enrollment period
Alumni Student Loan	Need	Up to tuition costs	No deadline	Available to academically outstanding students
Bush Student Loan	Need	Up to $2,500	No deadline	Available to academically outstanding students
Employment
Federal Work Study	Need	Varies	May 1, 1999
Campus Employment	Open	Varies	May 1, 1999	70% of amount earned minus taxes reflected as a part of student's contribution for next academic year
Other
Veterans G.I. Bill	Military service	Varies		Allow 4-6 weeks for processing
Vocational Rehabilitation Benefits	Disability	Varies		Contact the Office of Vocational Rehabilitation

 * Indicates the date by which the results of the Free Application for Federal Student Aid (FAFSA) must be received in the Shippensburg University Financial Aid Office. Allow four to six weeks processing time prior to the May 1 deadline.

Student Employment

Athletic Grants-In-Aid

Additional Scholarships and Grants for Upperclassmen

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HOW TO APPLY FOR FINANCIAL AID

1. Complete the 1999-2000 Free Application for Federal Student Aid (FAFSA) . You must complete the FAFSA even if you only plan to apply for student loans. You can obtain a FAFSA from your high school guidance counselor or at a public library. It may be completed after January 1, 1999. In order to be considered for the Federal Perkins Loan, Federal SEOG, and WorkStudy, the SU Financial Aid Office must receive the results of the FAFSA by May 1, 1999. Therefore, it should be submitted by the beginning or middle of March to allow for 46 weeks processing.

 
You do not need to be accepted at SU before you complete the FAFSA, although you should have at least applied for admission. You also do not need to have completed your 1998 tax returns before you file the FAFSA. You may complete it using estimates if the actual information is not available. Do not miss deadlines because you are waiting for completion of your tax returns. You can always change the information you reported; it is most important to get the application in on time.

 

2. To apply for a Federal Stafford Loan and/or a Federal PLUS Loan, about 48 weeks prior to the start of your enrollment, you should obtain a loan application from the lender of your choice or the Financial Aid Office at SU, and complete the student section. If you are using a Pennsylvania lender, return the completed application to the lender (or, if it is a preprinted application, mail it to the lender's address on the application). If you are using an outofstate lender, submit the application to the Financial Aid Office at SU.

 

3. To apply for workstudy, submit an Application for Campus Employment to the Financial Aid Office by May 1, 1999. This application becomes available in March. An application will be mailed to you after March 1 if you have been accepted at SU. However, if you don't receive one, you may contact the Financial Aid Office and one will be mailed to you.

 

4. Additional information (e.g., copies of your tax returns, or additional forms) may be requested from you and your parents throughout the financial aid process. Please respond to all requests in a timely manner.

 

5. If at any time during the financial aid application process, your family's financial status changes, contact the Financial Aid Office. Often, when extenuating circumstances exist, adjustments can be made to consider those situations.

 

6. Contact our Financial Aid Office staff if you have any additional questions about the financial assistance available at Shippensburg University.

Shippensburg University of Pennsylvania, in compliance with federal and state laws and university policy, provides equal educational, employment, and economic opportunities for all persons without regard to race, gender, age, ethnicity, national origin, religion, sexual orientation, or marital, veteran, or disability status. Direct requests for disability accommodations and other inquiries to the Office of Social Equity, Old Main 109, Shippensburg University, 1871 Old Main Drive, Shippensburg, PA 17257-2299, (717) 532-1161.