Office of Student Aid : Frequently Asked Questions

Eligibility

Is there a way to find out if I qualify for any student aid?

Once offered admission to the University, first-year undergraduate students may access a free and confidential service that provides prospective students with a general and preliminary determination of eligibility for student aid at Penn State.

The Early Aid Estimate (available on eLion between 10/15 and 02/28) provides the following:

• an estimate of essential charges (tuition, fees, room, meals if applicable, and a book allowance)
• an estimate of the categories of aid you may be eligible to receive: scholarships*, grants, loans, and Federal Work-Study.

*Scholarship consideration will only reflect the awards that are known at the time of the estimation and will not include awards made by academic colleges, campuses, or other awarding agents.

If you are an enrolled undergraduate or graduate student interested in student aid (but you have not yet applied), you should contact the Office of Student Aid or the student aid representative at your Penn State Campus for an assessment of available aid.

I don't think I'm eligible for anything, but I still need help! What can I do?

You may be eligible for federal student loans, but you must complete the FAFSA on the Web in order to be considered.

If you don't qualify for either of the two federal student loan programs, or if you need to borrow more than the allowable borrowing limits at your grade level, you may find assistance through alternative loans.

Alternative loans are commercial student loans that are not subsidized or insured by the federal government.

Alternative loans are available through some banks, guaranty agencies, and secondary student loan markets at competitive interest rates.

We also encourage you to research scholarship opportunities.

If my Student Aid Report indicates that I am selected for verification, what do I do?

• You don't need to do anything. We will notify you if we need you to provide any further information.
• Because Penn State is a participant in the Quality Assurance Program with the Department of Education, our office determines the selection criteria for verification of income, asset, and other information.
• Please respond promptly to any requests for information from Penn State's Office of Student Aid to ensure that your student financial aid is processed timely and correctly.

Can I receive student aid from Penn State for a study abroad program or internship offered by another institution?

No. Because of potential liability issues, Penn State does not participate in consortium agreements, which allow a student visiting another institution to receive aid from the home institution.

(This rule does not apply to Penn State study abroad programs where a student registers for a Penn State course and pays tuition at Penn State for classes delivered at another institution.)

If you are interested in study abroad and would like to discuss your options, please contact the International Programs office or the Office of Student Aid.

I have just learned that I must maintain "satisfactory academic progress." What is it?

The Office of Student Aid is required by federal regulation to monitor student progression toward completion of degree and certificate programs at both the undergraduate and graduate levels.

Penn State's Satisfactory Academic Progress Standard requires that a specific number of completed credits are necessary each academic year to remain eligible for student financial aid. (Please note: This standard is different from University criteria determining satisfactory scholarship necessary to maintain degree-seeking status.)

For additional information, please review the satisfactory academic progress information on our Web site.