Financial Aid

If you rely on student financial aid to pay for your college expenses and you are thinking about participating in the Engineering Co-op & Internship Program, be sure to meet first with an adviser in the Office of Student Aid to discuss how your participation in a co-op and/or internship might impact your aid award.

While you are on a co-op or internship assignment, please be aware that:

You are ineligible for federal grants or loans because you are registered for fewer than six credits; however, you might be eligible for other types of grants or loans (check with a Student Aid Adviser with regard to your situation).
Cooperative Education credits (ENGR 295, 395, 495) and Professional Internship credits (ENGR 195 A, and ENGR 195 I) are considered distance education courses and do not count toward the minimum six credits you need in order to be eligible for federal financial aid; however, other resident education classes taken at University Park or at other Penn State campuses do count toward the minimum six-credit requirement.
You are considered an active full-time student for the purposes of continued loan deferment only. Any loans or grants previously awarded to you will not need to be paid back while you are on your work assignment, and will continue to be deferred until after your graduation.
Most scholarships awarded by Penn State (including Schreyer scholarships) are deferred to future semesters in which you are enrolled full-time on campus. However, if you receive scholarships from an outside agency, you will need to contact that agency directly to discuss your scholarship eligibility during your work assignment. If that agency requires a letter or call confirming your participation in the Co-op & Internship Program, please do not hesitate to contact us (814-863-1032).
In most cases, you will be receiving a substantial salary. Be aware that the salary you earn on your work assignment will be taken into account as income when you complete the following year's Free Application for Federal Student Aid (FAFSA) and will impact the amount of financial aid you may be eligible to receive.

If you have any questions about your financial aid award, please contact:

Office of Student Aid
314 Shields Building
University Park, PA 16802
814-865-6301

Co-op & Internship Contact: Kristina Burris