Eligibility criteria includes that you are a U.S. citizen or eligible noncitizen, and are enrolled in an eligible degree or certificate program at your college or career school.
Financial Aid
There's no cost to apply for federal student aid, and most people are eligible for some form of financial assistance. Your eligibility for the various forms of federal financial aid is determined using the Free Application for Federal Student Aid (FAFSA), which you must complete and submit each year.
To get started, fill out a Free Application for Federal Student Aid (FAFSA)
Capella school code: 032673
FAFSA Application
Types of Federal Financial Aid
Federal grants
Federal grants are free money that doesn’t need to be repaid.
Federal Work-Study Program
Choose a work-study job at Capella University or through local community service. Capella offers work study even if you’ve maxed out your federal financial aid.
Student Loans
Federal student loans must be applied to school costs and your degree and they must be repaid. Be sure to use them responsibly—only take as much as you need.
Student loan options for bachelor’s degree:
- Federal Direct Subsidized Loans are available to eligible undergraduate students who show financial need.
- Federal Direct Unsubsidized Loans have no financial need requirement and are available to eligible undergraduate students.
- Federal Parent PLUS Loans are for undergraduate, dependent students. Eligible parents of dependent students can use this loan.
Student loan options for master’s, doctorates, and certificates:
- Federal Direct Unsubsidized Loans have no financial need requirement and are available to eligible graduate students.
- Federal Graduate PLUS Loans can help pay for education expenses not covered by other financing options.
Applying for Financial Aid
Financial aid is government funds—grants, work-study programs, and loans. To learn if you are eligible, fill out a Free Application for Federal Student Aid (FAFSA), using Capella school code 032673.
Contact an enrollment counselor by email or by phone at 866.808.8681 for more information on applying for Financial Aid.
Understanding the financial aid application process will help you get the most out of it. Here are the steps and approximate completion times.
- Get an FSA ID
Create an FSA ID to access the Federal Student Aid online system.
10 minutes | Start » - Fill out the FAFSA
The application for federal grants, work study programs, and loans for college students. Capella’s school code is 032673.
20 minutes | Apply »
Note: if available, use the IRS Data Retrieval Tool to import your federal tax information into your FAFSA. This saves you time, and reduces that chances that your FAFSA will be flagged for verification.
Important: Make sure to use your legal name (the version used on your social security card) when completing the FAFSA.
Need Help?
Call 1-800-4FEDAID (800-433-3243) or call a financial aid advisor at Capella at 1-888-CAPELLA (888-227-3552). Filling out the FAFSA Resource - Complete Online Loan Counseling
The U.S. Department of Education requires that you complete loan entrance counseling. Learn your responsibilities for any federal student loans you receive.
20-30 minutes | Read more »
Instructions
Log in with your FSA ID and password at https://studentaid.gov/counseling-selection, then select Entrance Counseling. - Sign Master Promissory Note (MPN)
A pledge to repay your federal student loans with interest and fees.
30 minutes or less | Confirm »
Instructions
Capella University participates in the multi-year MPN. If you are a new borrower or not completed a MPN recently you should complete a MPN.- Log in to https://studentaid.gov/mpn/
- Complete the MPN for Subsidized/Unsubsidized Loans
- You will need
- FSA ID
- Personal and employer information
- 2 personal references that you’ve known at least 3 years
- Capella’s school code: 032673
- Submit Capella's Financial Aid Agreement
Are you getting financial help from other sources? Your employer? Scholarships? Let us know here » - Receive Your Offer Letter
Upon completion of the FAFSA process, you’ll receive a financial aid offer letter in two to four weeks. We recommend applying for financial aid at least one month prior to starting class. - Accept Your Financial Aid Award
You will receive an email from Regent, our financial aid provider, when your award information is available. You can choose to accept all, some, or none of the aid options listed. Grant money is automatically accepted since does not need to be repaid.
Review and Accept Your Award » - Maintain Financial Aid
You must meet course participation and other requirements to maintain your eligibility to receive federal financial aid. Make sure you know the requirements and that you reapply for financial aid each year.
Use your finances dashboard on Campus to monitor your financial aid and account at Capella. This is where you can see disbursements and refund details, make a payment to your student account, set up direct deposit, and more.
Although it may be tempting to use all of the loan options that are available to you, take care to borrow as little as possible. Be sure to explore different ways to save such as discounts, scholarships, grants.
If there is a gap between the funding available and the cost of attendance, review ways to reduce your cost or explore alternative methods of payment.
Contact your enrollment counselor by email or by phone at 866.808.8681 to get a complete picture of how much you need to borrow or discuss a financing gap.
Because your loan must be repaid, carefully consider repayment requirements before taking out a loan. Most lenders offer free repayment counseling.
There are a variety of repayment plans available. Your estimated monthly repayment will be based on your total loan amount and repayment plan. It’s important to work with your lender to set up a plan that fits your budget so you can make timely payments each month.
Under certain circumstances, you can receive a deferment or forbearance that allows you to temporarily stop making or reduce your federal student loan payments.
Here’s a quick overview of how and when you’ll get your student loan. Capella will disburse your funds late in the third week of courses if you’re enrolled at least half time, have posted in the course, and have met all other aid eligibility requirements. After applying the offer to your outstanding balance, we’ll refund any excess to you to accept or return.
Apply your federal financial aid offer to:
- Tuition and fees
- Books and supplies
- Dependent care expenses
- Disability-related expenses
- Licensing/certification fees
- Personal computer
- Eligible study-abroad programs
- Miscellaneous living expenses
Capella begins disbursing loan funds late in the third week of courses for students who are enrolled at least half-time, have posted in the course room during the first week, and who have met all other aid eligibility requirements. You will hold a balance until your funds disperse to Capella
Contact an enrollment counselor by email or by phone at 866.808.8681 for more information.