Capella University was the inspiration of Stephen Shank, former CEO of Tonka Corporation, who felt that many adults were underserved by traditional universities. He envisioned a high-quality university that people could attend from any location.

In 1991, Shank established the corporate entity that would become Capella Education Company. In 1993, Dr. Harold Abel, an experienced leader in higher education and former president of three universities, joined Shank to found The Graduate School of America, now called Capella University. Originally, the university offered online master's and doctoral degrees in management, education, and human services.

Today, Capella University offers more than 950 online courses and 19 undergraduate and graduate degree programs in 104 specialized areas of study. Capella's more than 23,400 learners include a diverse group of adults from all 50 states and 45 countries.

Mission

The mission of Capella University is to extend access to high quality bachelor's, master's, doctoral, and certificate programs for adults who seek to maximize their personal and professional potential. This mission is fulfilled through innovative programs that are responsive to the needs of adult learners and involve active, engaging, challenging, and relevant learning experiences offered in a variety of delivery modes.

Financial Aid

Loans, grants, and scholarships

Regardless of your current income or assets, you may qualify for student financial aid programs to help with the cost of your education. You may also have financial options beyond those described here.

Federal financial aid: graduate studies

You must be enrolled at least half time to receive federal financial aid.

Federal Stafford Loan Program: Interest rates for student loans are lower than for most consumer loans. Loan amounts vary. The Stafford loan may be subsidized (government pays the loan interest during your studies) or unsubsidized (loan interest is added to your loan during your studies).

Federal Graduate PLUS Loan Program: Offers master's and doctoral students a resource to bridge the gap between their other financial aid and their full education budget. The Graduate PLUS loan has a fixed interest rate, and repayment can be deferred until after graduation.

Federal financial aid: undergraduate studies

You must be enrolled at least half time to receive federal financial aid.

Federal Stafford Loan Program: The Stafford Loan may be subsidized (government pays the loan interest during your studies) or unsubsidized (loan interest is added to your loan during your studies). Loan amounts vary.

Federal Pell Grant: Grants do not need to be repaid. The Pell Grant is based on financial need, and awarded to eligible students in an undergraduate program. The maximum Pell Grant award for 2007-2008 is $4,050. The actual award depends on the student's enrollment status each quarter (full time or half time).

Federal National SMART (Science and Mathematics Access to Retain Talent) Grants: This grant of up to $4,000 per year is automatically awarded each quarter to all students who meet the criteria. There is no application process.

Private student loans
In addition to federal (government-sponsored) student loans, many Capella students seek private student loans from Capella's recommended lenders and other financial institutions.

Scholarships and grants
Many Capella University students are eligible for scholarships. You may qualify for an award based on your goals, work experience, financial need, or even geographic location.