Federal Direct Loan Program | Capital University, Columbus Ohio


Payment Strategies

  • There are a number of payment strategies for meeting your remaining costs at Capital. Read about each one and decide which is best for you.
    • Combination of Plans
      Some families have a target amount they are comfortable paying each month, but it just does not fit fully into the interest-free TMS plan. Combine the TMS option with some level of borrowing and you can achieve your comfort payment. We can help you understand how to make this happen.

      Paying for a college education is a long-term investment. It requires careful planning, and we can help you figure all of this out. Please contact an admissions counselor 1-866-544-6175 or 614-236-6101.

      The strategies cited above are for illustrative purposes only. Your net remaining costs can be determined by using the Personal Financing Worksheet.

      You should consider carefully the strategy that makes sense for you and your family before deciding which option(s) to pursue. Additional costs may be added to student's bill throughout the year and these may affect you financing plans.
    • Lowest Monthly Payment Option

      Federal Parent Loan
      Lowering your monthly costs generally means borrowing. The Federal Parent Loan (PLUS) is one of the most advantageous loans around. It has a fixed interest rate of 7.9 percent and requires no collateral.

      You can borrow all of your out-of-pocket costs, or just a portion. Best of all, payments can be extended up to 10 years (longer in some circumstances). Minimum repayment is $50 monthly, but you can even reduce your payment to $0!

      Alternative Educational Loans
      Alternative educational loans may have unique advantages for your personal circumstances also are available. 

    • Twice-A-Year Option
      Capital University issues two bills per year, prior to the beginning of each semester. Pay the amount due directly to Capital and you are done. For example, if your net remaining costs were $5,000, you would pay $2,500 for each semester.
    • Capital Pay Plan

      Capital Pay Plan provides an option to help students and families manage college costs by dividing tuition and other expenses into smaller payments.

      All students will access Capital Pay Plan through the myCap self-service portal under the Student Finances tab. For your convenience, current balance and other account information will be available 24/7 through your Capital Pay Plan account.

      How Does It Work
      Capital Pay Plan payments follows the academic calendar. Tuition and fee payments are made in equal installments using the following schedule. Payments are based on the current semester balance and will update and adjust if financial aid or other fee amounts change.

        • Spring semester = 4 payments (January – April)
        • Summer semester = 3 payments (May – July)
        • Fall semester = 4 payments (August – November)
      • Payment plans can be set-up for current semester balances only. Prior balances should be paid separately through the Student Accounts Office.
      • Capital Pay Plan does not allow for pre-scheduled payments. Students will be notified in the myCap service portal when payments are due. Family members wishing to have access to Capital Pay Plan must be given proxy access by student in myCap.