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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 upfront 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. Information regarding tuition and financial aid can be found here: https://www.capital.edu/admission/tuition-and-financial-aid/graduate-students/
Financial Aid
Financial Aid Office hours are: M-F 8:30 a.m. - 5:00 p.m. (fall and spring semesters); and M-F 8:00 a.m.- 4:30 p.m. (summer semester). The office is closed on weekends and holidays. Hours may vary during vacations. Further information can be obtained by calling 614-236-6511 or emailing finaid@capital.edu. Graduate students may be eligible to participate in the Federal Direct Loan Program. Students should anticipate 6-10 weeks for loan processing and must be enrolled when eligibility is determined.
Eligibility for Financial Aid
For detailed information regarding eligibility for Financial Aid, please call 614-236-6511 or visit the Financial Aid website at www.capital.edu/graduate-students.
Federal Stafford Loan Program
The Federal Stafford Loan Program is available to students who are either a U.S. citizen or an eligible non-citizen. Students must be registered for at least six (6) credit hours in order to apply for a Stafford Loan. Application for the Stafford Loan must be made through the institution from which you are receiving your degree and should be completed 6-10 weeks prior to the payment due date. Those students who have not returned their loan application to the Financial Aid office in Yochum Hall prior to the due date must join the deferred payment plan and pay 1/3 of their tuition charges before being permitted to start classes. If loan proceeds will not be released by the payment due date, written notification of the current loan status must be sent to the Finance Office. See Appendix for more information regarding application.
Your Financial Aid Award letter will indicate the maximum loan amount available to you. If you are a continuing student at Capital and have a Master Promissory Note on file, and Great Lakes Higher Education Corp. (GLHEC) is your guarantee agency, you will automatically receive a disclosure statement from GLHEC indicating exact loan amount(s) and scheduled disbursement dates.
Financial Aid Application Process
The free application for Federal Student Aid (FAFSA) is required from all applicants applying for a Federal Stafford Loan(s). This form is available in the Financial Aid Office, or on line at www.fafsa.ed.gov. This application process is free; you are not required to pay a fee to have your data processed. Once the FAFSA is received and processed by the federal government, you will receive a Student Aid Report (SAR) usually within 3-4 weeks. Please review the SAR, verifying that Capital University is indicated in “Step Six” on this form and that all data are correct. We will receive this data electronically, and if Verification is not required (see section on Quality Assurance/Verification), we will send a Financial Aid Award to your home advising you of your loan eligibility.
If you are a new student borrower at Capital, visit Capital’s website for more information about loans at:www.capital.edu/graduate-students.
Expense Periods
An expense period represents the academic period a student wishes to have covered by the loan application. The most common period is April-April, as most graduate students are enrolled throughout the year.
Loan Disbursements
Federal Stafford funds are electronically transmitted by GLHEC to Capital University. The Capital University Finance Office will notify you when a disbursement has been received. In the few instances of disbursement by check, the Finance Office will contact you for appropriate procedures.
Capital will attempt to deliver all loan proceeds as soon as possible; 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 institution charges must request receipt of these funds by completing a Refund Request Form (available through the Finance Office). Forms are available the first official day of each term.
Payment Procedures
Capital University has two payment options available to graduate students. The first option is full payment of all tuition charges by the billing due date, which is the first day of each term. The second option is the deferred payment plan. With this plan, one-third of the tuition balance must be paid by the billing due date. The remaining two-thirds are due approximately thirty (30) days and sixty (60) days after the initial payment. Details regarding payment strategies and policies can be found here.
Pre-Authorized Third Party Payment
Students who have received pre-authorization for full tuition reimbursement or a percentage of tuition reimbursement for a specific course or courses from the military, Bureau of Vocational Rehabilitation, or a particular employer tuition plan, must submit all forms and instructions to the Finance Office prior to the billing due date. Please note, however, that in all cases the student is ultimately responsible for the payment of his or her charges.
Quality Assurance / Verification
Capital University is responsible for assuring accuracy of data reported by you and /or your family. If selected, you will need to provide additional information.
If selected for Verification, you must complete this process prior to receiving any notification of aid eligibility. If a term has started and Verification has not been completed, enrollment should not be attempted unless adequate resources are available from your own personal funds to pay for that term’s tuition, fees, and books.
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 are not guaranteed by the government, interest, and guarantee fees may be higher. Review the Alternative Student Loan Page at http://www.capital.edu/alternative-loans/ for more information about these loans. Feel free to contact the Financial Aid Office should you have any questions regarding Financial Aid programs, procedures, or processes.
Tuition and Fees
A complete listing of tuition, fees, and other applicable costs for the Graduate programs can be found at https://www.capital.edu/admission/tuition-and-financial-aid/tuition-and-fees/.
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