Find Financial Aid for Adult Degree Completion Students

Grants and loans, designed to help you pay for college, are available through a variety of federal and state programs.The key is completing the Free Application for Federal Student Aid (FAFSA). The fastest way to apply is to complete the FAFSA online.

Your Financial Aid Award Letter consists of loan eligibility determinations as well as scholarship awards that may have been offered to you.  A large majority of the students attending Capital University rely heavily on student loan programs to meet their financial obligations why obtaining their education.  Educational loans may be used to cover living expenses as well as tuition. The Financial Aid Award Letter details the specific loan programs through which you are eligible to borrow.

» Access Financial Aid forms online 

Types of Loans

Federal Direct Loan Program

The Federal Direct Loan Program provides low-interest loans to students to assist with educational expenses. It is federally guaranteed, which means you do not need to pass a credit check to obtain funding through this program. There are three minimum criteria that a student must meet to receive a Direct Loan:

1. The borrower must be a United States citizen or national, or an eligible non-citizen

2. The borrower must not be in a current "default" status on a previous federal education plan

3. The borrower must not have exceeded the aggregate Federal Direct Loan limit of $57,500 for an independent student or $31,000 for a dependent student

If you meet these minimum criteria, you are eligible to borrow through the Direct Loan Program. Your Financial Aid Award Letter will indicate specifically the amount that you are eligible to borrow. There are two types of Federal Direct Loans, subsidized and unsubsidized. 
 

Federal Direct Subsidized Loans

The Federal Direct Subsidized Loan is awarded to students who demonstrate financial need based on the information provided on the Free Application for Student Aid (FAFSA). Federal Direct Subsidized Loans do not begin accruing interest until six months after a student graduates from the university or withdraws early for any reason.

 

Federal Direct Unsubsidized Loans

The Federal Direct Unsubsidized Loan is awarded to students who may not be eligible for all or part of the subsidized loan. Federal Direct Unsubsidized Loans will begin to accrue interest once disbursed; however, the student is not required to make payments on the loan (principle or interest) until he or she graduates from the university or withdraws early for any reason. The interest rate is currently fixed at 6.8 percent and is the same for all borrowers. 

Loan Application Process 

To receive a financial aid award, you must first make sure that Capital University has received your Free Application for Federal Student Aid (FAFSA). Make sure you have added Capital's school code (00302300) to your FAFSA so that we can access the information. Once this is done, you will need to complete the financial aid worksheet. If you are a non-degree student, you should complete a Non-Degree Statement of Purpose form. Once the Financial Aid Office has received all the required paperwork, a financial aid award will be processed for you. Your award will include all federal and state aid for which you are eligible. You will receive two emails when your award is able to be viewed in WebAdvisor. One email will include your log-in name and a separate email will contain your initial password to the WebAdvisor system. If you decide not to use any portion of your financial aid, you must notify the Financial Aid Office by sending an email from your Capital email address indicating how much of each award you would like to decline. Once you view your financial aid award and determine that you are going to use student loans, you must complete an entrance counseling session as we as a master promissory note. Both can be completed at www.studentloans.gov. All financial aid funds will be disbursed directly to Capital and placed onto your student account in order to pay any balance you may have. If you have excess funds available to you after your tuition and any fees are paid, you can submit a refund request form with the Student Accounts Office to have any excess funds disbursed to you.

Pell Grants 

• A Federal Pell Grant, unlike a loan, does not need to be repaid.
• The maximum Pell Grant for the 2012-13 award year (July 1, 2012 - June 30, 2013) is $5,550.
• The amount depends on your financial need, cost to attend school, status as a full-time or part-time student and plans to attend school for a full academic year or less.
• Learn more about Pell Grants through the student aid website.
• Effective immediately, students will have a lifetime maximum on the Pell Grants they can receive. Each student call receive the equivalent of 12 full-time payments (or six years of full-time attendance) which is prorated for students who attend part-time. If you are unsure of your remaining eligibility, please contact the Financial Aid Office.

Tuition and Costing of Living

The 2012-2013 tuition rate for Capital University's Adult and Continuing Education program is $430 per credit hour.

Estimated Budgets for Summer, Fall and Spring Semesters

*The cost of books and supplies is an estimate and may not reflect actual costs.  

Federal Direct Loans

Reminders

• Once you have been accepted, the Financial Aid Office will communicate with you via your Capital University email account. Please check your Capital email account regularly. (http://inside.capital.edu)
• You must reapply for financial aid every year. When you file your federal tax forms each year, do not forget to complete the new FAFSA. (http://www.fafsa.org)
• You must complete the financial aid worksheet every year. You can also access other Financial Aid forms online. 
• An entrance interview and master promissory note are required before new loans will be disbursed to the university. Both items can be completed online. (www.studentloans.org)
• It is highly recommended that students check the National Student Loan Database System (NSLDS) (www.nslds.ed.gov). The site gives information on loan and/or grant amounts, outstanding balances, loan statuses and disbursements.

Contact the Financial Aid Office with questions, concerns, or suggestions:
Capital University
Financial Aid Office
1 College and Main
Columbus, Ohio 43209-2394
Phone: 614-236-6511 ~ Fax: 614-236-6926
finaid@capital.edu