Capella’s list of preferred private lenders
These select lenders* either responded to Capella’s request for information related to private education loans or issued private loans to Capella students during the most recent academic year.
Capella evaluates lenders using borrower-focused criteria, including competitive interest rates and borrower benefits, repayment flexibility, product availability for Capella students, quality of loan processing and servicing, lender reputation and history with the university and any lender affiliations.
Capella reviews the status of each preferred lender at least annually and may add or remove lenders from the list. These reviews are conducted with the interests of student borrowers in mind. The interest rates, fees and overall loan costs offered by these lenders may not be the lowest available, and lenders may change rates, terms, fees or other information at any time.
You have the right to select the lender of your choice without intentional processing delay.
All students are encouraged to compare interest rates and carefully review fees and repayment terms to determine what best fits their financial situation.
*Be advised that some of the private loan lenders identified below may be limited to residents of certain states, specific to undergraduate and/or graduate status, programs and majors, may require SAP satisfaction and will not cover past due balances. Students are encouraged to check and review with an individual lender for details. This is not an exhaustive list of private loan lenders and Capella University does not guarantee the student’s satisfaction with the services and products provided by these or any other lenders. You have the right to select a lender of your choice regardless of this list. None of the lenders listed are affiliates of one another.
Choose the lender that works for you
You are free to choose any private student loan lender that meets your needs. The lenders shown on this page operate independently, and Capella University does not require you to borrow from any specific lender. Capella will process private education loans from any eligible lender you select.
- Sallie Mae
- College Ave
- Edly
- EdvestinU
Sallie Mae
A national lender offering financing options for a variety of education programs. Sallie Mae is not an affiliate of any other lender on this list.
- Eligibility: Enrollment in an eligible school and a cosigner may be required
- Available loans: Undergraduate, graduate, career training and parent loans
- Disclosures: See the lender’s required disclosures for information about APR ranges, interest rates, fees, repayment terms and all eligibility requirements
College Ave
A private lender focused on simplifying the student loan experience through flexible repayment tools. College Ave is not an affiliate of any other lender on this list.
- Eligibility: Enrollment at an eligible school and a cosigner (most borrowers)
- Available loans: Undergraduate, graduate and career programs plus parent borrowers
- Disclosures: See the lender’s required disclosures for information about APR ranges, interest rates, fees, repayment terms and all eligibility requirements
Edly
A private financing platform partnering with TAB Bank to offer alternative repayment options. Edly is not an affiliate of any other lender on this list.
- Eligibility: Enrollment in a participating school plus program-specific requirements
- Available loans: Income-based repayment private student loans
- Disclosures: See the lender’s required disclosures for information about APR ranges, interest rates, fees, repayment terms and all eligibility requirements
EdvestinU
A nonprofit lender that offers education financing and refinancing nationwide with a specific program for New Hampshire residents. EdvestinU is not an affiliate of any other lender on this list.
- Eligibility: U.S. citizens or permanent residents enrolled at least half-time in an eligible degree program
- Available loans: Undergraduate, graduate and refinancing
- Disclosures: See the lender’s required disclosures for information about APR ranges, interest rates, fees, repayment terms and all eligibility requirements
Private loan self-certification requirement
Federal law requires students who apply for a private education loan to complete a Private Education Loan Applicant Self-Certification Form. This form helps you understand how a private loan fits with your total cost of attendance and other financial aid.
You can obtain the self-certification form from your lender or download it directly from the U.S. Department of Education. To complete the form, you’ll need information about your cost of attendance and estimated financial aid.
You do not need to complete the Free Application for Student Aid (FAFSA) to apply for a private student loan. However, completing the FAFSA may make it easier to provide the information required on the self-certification form. Capella’s Financial Aid Office can certify a loan from any lender that you request and provide cost of attendance and financial aid details if needed.
Financial aid code of conduct
Capella University officers, employees and agents have no personal affiliation, financial interest, benefit or other personal ties to the preferred lenders. The college does not accept gifts, revenue sharing or benefits from lenders. All members of the financial aid services team adhere to a code of conduct.
Other ways to save at Capella
Before considering private loans, explore every opportunity to fund your education or lower your tuition. Capella offers several pathways that may help reduce the total cost of earning your degree
Paths to reducing costs
Paths to alternative credit
Maximum federal grant and loan amounts
Federal student aid eligibility varies and is determined based on information you provide on the FAFSA and is summarized in your financial aid award letter. The amounts below are provided for informational purposes and represent possible maximums for the 2026–27 award year. Your actual eligibility may be lower based on your enrollment, program, financial need and other factors.
Federal grant programs
- Pell Grant: Up to $7,395 per award year, depending on your Student Aid Index (SAI).
- Federal Supplemental Educational Opportunity Grant (FSEOG): Up to $4,000 per year; actual awards depend on available federal funding and institutional criteria.
- TEACH Grant: Although not available at Capella, up to $3,772 per award year may be available to eligible students in teacher-preparation programs at eligible institutions.
Federal loan programs
- Direct Subsidized and Unsubsidized Loans (undergraduate):
- First-year: Up to $5,500 (dependent) or $9,500 (independent), up to $3,500 of which may be subsidized loans
- Second-year: Up to $6,500 (dependent) or $10,500 (independent), up to $4,500 of which may be subsidized loans
- Third-year and beyond: Up to $7,500 (dependent) or $12,500 (independent), up to $5,500 of which may be subsidized loans
- Dependent students with a qualifying circumstance may be eligible for independent student amounts.
- Direct Unsubsidized Loans (graduate): Up to $20,500 per award year
Important information about private student loans
Private student loans usually fall into three categories – undergraduate, graduate and parent loans – with some lenders also offering options for career training or refinancing.
Each loan type has its own terms, such as interest rates, repayment schedules and credit requirements. Because these details differ by lender, it’s important to review and compare offers carefully before borrowing.
Federal student loans are funded by the U.S. government and usually come with fixed interest rates and built-in repayment protections, such as income-driven plans or deferment options. Private student loans are offered by banks, credit unions or online lenders. The terms depend on your credit history and the lender’s policies.
Students are encouraged to explore federal loans first before considering private loans, since federal options typically provide more flexible repayment benefits.
Private student loans are usually considered only after all other forms of financial aid – such as federal loans, grants, scholarships and employer tuition assistance – have been explored.
Because private loans are credit-based, the interest rates and terms can vary widely. Borrowers with strong credit may qualify for lower rates, while students with limited credit history may receive higher rates or need a cosigner. Comparing all available aid first can help you borrow only what you need and reduce your overall costs.
You apply for a private student loan directly through your lender’s website. During the application, you’ll need to list Capella University as your school, so funds can be sent to your student account once approved and certified.
Each lender has its own application and approval process, so timelines and requirements may vary. After you’ve submitted your application, Capella will work with your lender to confirm enrollment and process the loan funds when they’re ready to be disbursed.
