The Office of Student Aid provides support for Penn State Altoona students who receive one or more of the four basic types of financial aid. The four types of aid are grants, scholarships, loans, and work and a brief description of each type is as follows:
- Grant – Financial aid that is based on the student’s financial need that does not have to be repaid. The source of this type of aid is from state, federal, or institutional funding.
- Scholarship – Financial aid based on financial need, merit, or both that does not have to be repaid. This type of aid may come from the institution that the student is attending or may come from an outside source.
- Loan – A type of self-help financial aid that is borrowed and must be repaid, usually with interest over period of time.
- Work – Financial aid in which the student may be awarded a certain amount per academic year that the student can obtain by working either on campus or off campus at select locations.
In order to be considered for any form of financial aid, students must complete the Free Application for Federal Student Aid (FAFSA) at www.fafsa.gov online. The Federal School Code for all Penn State locations is 003329. The preferred filling date for submitting the FAFSA is February 15th for incoming students and April 1st for continuing students. Typical repayment of the loan is 30 days or the end of the semester, whichever occurs first.
Emergency Loan Fund
Any student enrolled at Penn State Altoona may apply for an emergency loan provided they can demonstrate sufficient need. Emergency Loan Applications may be secured through the Student Aid Office in W113 Smith Building. A plan for repayment is presented during the application process. It generally takes one week to receive emergency loan funding. Students must have a checking or savings account to electronically receive emergency loan funds. Typically, the loan is to be repaid in 30 days, or the end of the semester, whichever occurs first.
All incoming and continuing students are considered for scholarships. Certain academic colleges require a separate scholarship application. Additional information on academic college scholarships can be obtained on the Penn State Altoona Office of Student Aid web page www.altoona.psu.edu/stuaid It is recommended that all students interested in scholarship consideration complete the Free Application for Federal Student Aid (FAFSA) by February 15 for incoming students and April 1 for continuing students.
Penn State Altoona Majors Scholarship
Students admitted to a Penn State Altoona baccalaureate major who will have earned sixty or more credits by May 15, with a cumulative grade point average of 3.0 or higher, are invited to apply for the Penn State Altoona Majors Scholarship. The application is available on the Student Aid site from April 1 – May 15. All students are encouraged to complete the FAFSA to maximize consideration for student aid.
Satisfactory Academic Progress
Students receiving financial aid must complete a minimum number of credits to maintain financial aid eligibility. Students electing to drop a course or believe they may not successfully complete a course are encouraged to contact the Office of Student Aid to discuss financial aid academic requirements. For more information, please stop by our office at W113 Smith Building, call us at 1-800-848-9843 (option 4), or visit the Student Aid site.