Financial Aid for Graduate Students
Graduate students enrolled in the Capital University Master's programs are eligible to participate in the Federal Direct Unsubsidized Loan program. Federal loan funds can be used to cover the up front tuition charges billed by Capital and assist in helping students cover their book costs and basic living expenses, if desired. Funds are not generally available prior to the beginning of the semester but can reimburse a student once fully processed.
Law School Students should contact the Capital University Law School Admissions Office.
Eligibility for Financial Aid
To be eligible to receive federal loans at Capital University, you must:
- Be a United States citizen or permanent resident.
- File the Free Application for Federal Student Aid (FAFSA).
- Not be in default on prior educational loans.
- Enroll in at least three credit hours per semester
- Meet the Selective Service registration requirements, if male.
What you must do
You should file for aid early each year you plan to be enrolled.
- Apply for a PIN with the U.S. Department of Education (ED) to use various ED online systems.
- File the FAFSA electronically to be eligible for federal aid. You will need Capital's Title IV School Code: 003023. Please be sure to file as soon as possible after January 1 (income figures can be estimated).
Federal Direct Unsubsidized Loan Program
A Federal Direct Unsubsidized Loan is funded by ED and is available up to $20,500 per year. Interest is fixed each year (currently at 5.41%) and does accrue while borrowers are in school. Payments are not required but are encouraged, if possible.
Your financial aid award letter identifies the maximum annual loan amount available to you.
- If you have not borrowed a federal student loan within the last 10 years, you will need to complete a Master Promissory Note and Entrance Counseling in order for us to process your loan.
- If you are a continuing student at Capital and have a Master Promissory Note on file, a loan will automatically be processed for you each year that you file a FAFSA.
Capital will attempt to disburse all loan proceeds approximately one week prior to the start of each semester. If any requested documents have not been submitted, the disbursement(s) will occur once your financial aid file is complete; however, students should not assume these funds will be available before the second week of classes. All students should have sufficient personal funds to cover non-billed costs such as books and living expenses each term until excess loan funds can be made available.
All students who are receiving funds in excess of billed charges must request a refund by completing a Refund Request Form (pdf) and submitting it to the Student Accounts Office. You can set up Direct Deposit in WebAdvisor to help this process go more quickly but refund checks will be processed after the first week of classes.
Many students who enroll at Capital University are eligible to receive assistance from their employer. These payments may be paid at the beginning of a term or after grades have been received. The timing depends on employer policy. Regardless of the payment policy, the federal government requires that this resource must be considered when determining eligibility for Federal Direct Loans. Students should notify the Financial Aid Office in writing that they have tuition reimbursement and the amount of expected reimbursement.
Alternative Student Loans
Additional loan assistance may be available for students who need extra financing. Terms are often similar to the federal loans, but because they aren't guaranteed by the government, interest and guarantee fees may be higher. Review the Alternative Student Loan page for more information about these loans.