Applying for Financial AidTo apply for federal financial aid, students in all programs of study at Capital University Law School should begin by filing the Free Application for Federal Student Aid (FAFSA). Capital University Law School requires that students complete this form online at www.fafsa.ed.gov. You will need to have your 2007 federal tax forms on hand when filing the FAFSA because you will be required to provide specific information about your household income. The FAFSA will ask you to provide the federal code for the institutions to which you would like your FAFSA information sent. The federal code for Capital University is 003023. There is not a unique code or branch ID associated with the law school campus. Please use the 003023 federal code for all programs offered through Capital University Law School. Once you have filed the FAFSA, your information will be processed by the Department of Education. Once Capital University Law School receives your FAFSA information from the Department of Education, we will prepare a Financial Aid Award packet for you. The process will take approximately 4 to 6 weeks (depending on the time of year that you file the FAFSA). The Financial Aid Office recommends that students file the FAFSA as early as possible to allow plenty of time for processing before classes are scheduled to begin. The Financial Aid Award packet will detail all financial aid programs for which you qualify. There may be additional steps required to obtain certain types of aid, so please carefully review all information included with the packet and contact the Financial Aid Office with questions. Students are required to reapply for financial aid every year. The Financial Aid Office will send out reminders to students throughout the academic year to announce important dates and deadlines. Financial Aid Programs:Federal Stafford Loan Program The Federal Stafford Loan Program provides low-interest loans to students to assist with educational expenses. The Stafford Loan Program is federally guaranteed, which means a borrower does not need to pass a credit check to obtain funding through this program. There are three (3) minimum criteria that a student must meet to receive the Stafford Loan:
If you meet these minimum criteria, you are eligible to borrow through the Stafford Loan Program. The maximum amount that a student may receive in the Stafford Loan Program is $20,500 per academic year. Your Financial Aid Award will indicate specifically the amount that you are eligible to borrow. There are two types of Federal Stafford Loans, subsidized and unsubsidized.
Graduate PLUS Loan Program Graduate and professional students are eligible to request loan funds through the Federal Graduate PLUS Loan Program. This program is designed to supplement a student’s Federal Stafford Loan to cover the student’s full educational expenses. The Federal Graduate PLUS Loan Program is beneficial because it reduces a student’s dependence on private loan programs. Although the borrower does have to pass a credit check to qualify for the Federal Graduate PLUS Loan, the approval criteria are far less strict when compared to a private educational loan. The interest rate on the Federal Graduate PLUS Loan is fixed at 8.5% for all qualifying borrowers. Non-Federal Private Education Loans Private educational loans may be offered to students through a third-party source to supplement the Federal Stafford Loan and other funding a student may receive. The private loan is completely independent of the Federal Stafford Loan Program; therefore, the eligibility criteria are very different. To obtain private loan funds, a student must pass a credit check and the interest rate is determined by the lender. The borrower will sign a separate promissory note with their private loan lender and will be responsible for complying with the terms and conditions of that loan as outlined by their lender. Additional Information & Reminders:Credit Information The Federal Graduate PLUS Loan and all non-federal private loans require that applicants pass a credit check. Students are encouraged to request a copy of their credit report prior to applying for a credit-based loan to ensure the accuracy of the information. You can obtain a free copy of your credit report at this web site provided. Scholarships All applicants admitted to the J.D. Program at Capital are considered for institutional scholarship. The scholarship decisions are made by the Admission Committee and are based primarily on the applicant's undergraduate academic performance and LSAT score. These scholarships are renewable provided the student maintains the required GPA in the J.D. Program. Continuing students have the opportunity to apply for scholarship each year. The scholarship applications are made available to continuing students during the spring semester. Decisions are made over the summer, and all applicants are notified of the decisions prior to the start of the fall semester. The Financial Aid Office sends out announcements for outside scholarship opportunities as we are made aware of them. Students are notified of scholarship opportunities via their Capital e-mail account. We encourage students to check their Capital e-mail account regularly for announcements, reminders, and other information.
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August 19, 2008
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