Graduate Students

Financial Aid for Graduate Students

• 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.
• Employer Reimbursement
  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.
• Loan Disbursements
  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.
• 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 6.595%) 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. 
• First Steps

  Here are the steps you need to take:

  • Apply for an FSA ID and Password with the U.S. Department of Education (ED). These credentials will let you use various ED online systems and is necessary to electronically sign your FAFSA.  
  • File the FAFSA electronically. You will need Capital's Title IV Code, which is 003023. If you can’t file the FAFSA electronically, please contact the Financial Aid Office for additional guidance. 

  If you find yourself in unusual circumstances or have extraordinary information that can’t be included on your FAFSA, you can request a Special Circumstances Review after you submit your FAFSA.
  
  Once you have been accepted to Capital, you will be able to view your financial aid award on myCap. All you’ll need is your Capital username and password to access the site.

• 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.