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The monastic college, Palpung Sherabling Institute of Higher Buddhist Studies (Tib. Lung-Rig Jampal Ling), was the first building in Palpung Sherabling, built in 1977 to house 50 monks serving as the monastery, college, school, and dispensary. In 1984 it was expanded with a second floor. Following restoration the Shedra have moved in from their temporary residence in the main monastery.

It contains a shrine hall, 35 dormitory rooms, classrooms, a dispensary, library, reception rooms and apartments for the resident incarnate lamas. There are about 150 students learning here. To join the Shedra one must commit to stay for at least 7 years (the basic course), and throughout the 15hr day one must be willing to study, debate, and learn wholeheartedly. There is one day, Thursday, off each week.

Now (2007) in the Institute there are three Khenpos as main teachers. Before 2007, among other teachers, three Khenpos are introduced here:
Khenpo Tashi Gyaltsen, Khenpo Losang Tenzin, Khenpo Tsultrim

the planned construction ground for new Buddhist Institute of Higher studies The new Lung rig jampal Ling Buddhist Institute of Higher studies will construct at the new location according the vision of the 12th Kenting Tai Situpa.

Class I
Buddhism
1. Commentary to the Guide to the Bodhisattva's Way of Life , by Pawo Tsuglag Trengwa
2. Letter to a Friend, by Nagarjuna
3. Fifty Aphorisms, by Nagarjuna
4. Minor Collected Topics, by Ngawang Tashi
5. Sign & Reasoning, by Yongzin Namgyal Dakpa
History
Non-Sectarian History of Buddhism, by Jamgon Lodro Thaye
Language & Literature
1. Basic Orthography, by Sakya Pandita
2. Root Commentary of Dag yig ngag sgron, by Palkhang and Khunu Lama
Class II
Buddhism
1. Root and Commentary on Ornament of the Middle Way, by Jamgon Mipham
2. Self-interest Chapter of the Ocean of Logic, by Chodrak Gyatso
3. Middling Path of Logic, by Ngawang Tashi
4. Epistemology, by Yongzin
5. Annotated Commentary to Treasury of Reasoning, by Loter Sung
6. Root Commentary on the Three Vows, by Karma Ngelek
7. Dagpo's Ornament of Liberation, by Dagpo Rinpoche
History
Non-sectarian History of Buddhism, by Lodro Thaye
Language & Literature
1. Wish-fulfilling Tree of Elegant Sayings, by Yangchen Drupai Dorje
2. Situ's Oral Instructions, by Ngulchu Dhammapada
Class III
Buddhism
1. Fourth Chapter of Ocean of Logic, by Chodrak Gyatso
2. Major Collected Topics, by Se Ngawang Tashi
History
Non-sectarian History of Buddhism, by Lodro Thaye
Language & Literature
Mirror that Clears Away the Difficult Points, by Yangchen Drupai Dorje
Class IV
Buddhism
1. Chariot of Dagpo's Lineage, by Kunkhyen Mikyo Dorje
2. Pleasing Ornament Commentary to the Fundamental Wisdom of the Middle Way, by Maja Jangtson
3. Commentary to the Four Hundred Stanzas, by Rendawa
4. Entering the Middle Way, by Chandrakirti
History
The White Annals, by Gendun Chopel
Language & Literature
Commentary to the Middle Chapters of Mirror of Poetry, by Khamtrul Tenpai Nyima
Class V
Buddhism
1. Easy to Accomplish Milking in Spring Commentary to the Treasury of Clear Knowledge, by Kunkhyen Mikyo Dorje
2. Root Commentary to the Compendium of Clear Knowledge, by Master Asanga and Khenpo Shenga
3. Gateway to Knowledge, by Jamgon Mipham
History
The White Annals, by Gendun Chopel
Language & Literature
Commentary on the First and Third Chapter of the Mirror of Poetry, by Khamtrul
Class VI
Buddhism
1. Jetsun Ngalso Commentary to the Perfection of Wisdom, by Kunkhyen Mikyo Dorje
2. Gate to Entering the Perfection of Wisdom Teaching, by Kunkhyen Pekar
3. Ear of Perfection of Wisdom Teaching, by Kunkhyen Buton
History
The White Annals, by Gendun Chopel
Language & Literature
1. Fifth Outline of Sanskrit Grammar, by Situ Panchen
2. Chinese Elemental Astrology, by Khedrub Karma Chagmed
Class VII
Buddhism
1. Commentary to the Sutra of Self-Liberation, by Mikyo Dorje
2. Commentary to Vinaya Sutra Root Text, by Mikyo Dorje
3. Mandala of Sun Commentary to Vinaya, by Mikyo Dorje
4. Great Commentary to the Vinaya Sutra Root Text, by Kunkhyen Buton
History
Rabjam Norbu Dawa Chushel, by Kunkhyen Chojung and Be Lotsawa
Language & Literature
The Light that Makes the Knowledgeable Smile, by Compiled by Lhasa Mentsikhang
Class VIII
Buddhism
1. The Three Tantras of Examining the Internal Essence, by Jamgon Kongtrul
2. Note on the Generation and Completion, by Karmai Khenchen
3. An Explanation of Phag, De, and Gyal, by Rinchen Dhargye
History
Rabjam Norbu Dawa Chushel, by Kunkhyen Chojung and Be Lotsawa Tsewang Kunkhyab
Language & Literature
Rosary of Pearl Commentary to Sumchupa, by Situ Panchen
Class IX
Buddhism
1. Illuminating the Meaning Minor Commentary to the Perfection of Wisdom, by Haribhadra
2. Commentary to Kalacakra, by Taranatha
3. Commentary to Drikung's Single Intent Doctrine, by Rigzin Chodrak
4. Commentary to Taglung's Three Vows, by Ngawang Namgyal
5. Barom's Tradition of Mixing and Transference
6. The Victorious Storehouse's Explanation of Mahamudra, by Drukpa Pema Karpo
7. The Four Yogic Stages, by Zurmang Khenpo Penam
8. Commentary to the Mahamudra Prayer, by Situ Chojung
History
History of Indian Buddhism, by Taranatha
Language & Literature
Rosary of Pearl Commentary to Tagjug, by Situ Panchen