MINNEAPOLIS--(BUSINESS WIRE)--The U.S. Department of Education has approved Capella University to offer nonterm financial aid for its current FlexPath direct-assessment programs. Capella University (http://www.capella.edu) is a regionally accredited online university* that offers online degree programs designed to help working adults advance in their careers.
By offering FlexPath programs under a nonterm structure, learners will have even more flexibility as they will truly be able to progress at their own pace, without the arbitrary constraints of the traditional academic term. The financial aid model also increases expectations for responsible borrowing as learners must meet both time and academic progress requirements in order to be eligible for financial aid disbursements.
“This approval from the U.S. Department of Education is a significant milestone in our journey to provide our learners an experience that is highly personalized, effective and gives them the most direct path to achieve their ambitions,” said Capella University President Scott Kinney. “This innovative offering is one way we are making high-quality education more affordable and attainable for busy working adults, and more closely aligned with employers’ needs.”
Capella’s first step to transition to the nonterm financial aid model will begin with learners starting a FlexPath program in January 2015. All other FlexPath learners are expected to be converted to nonterm effective July 2015.
Capella’s FlexPath programs offer the potential to significantly reduce the cost of a degree, accelerate the time required for degree completion, and better align learning to the needs of employers and society. Traditionally, degree programs are constructed around credit hours that measure the time required to complete specific courses. Under the FlexPath model, degree programs are constructed around the direct assessment of demonstrated competencies.
The U.S. Department of Education approved Capella University's innovative FlexPath direct-assessment programs in August 2013. This made Capella the first university to offer competency-based bachelor's and master's degree programs that utilize an approved direct-assessment learning model.
The U.S. Department of Education nonterm approval covers all existing FlexPath programs, except certifications, which are not yet approved for federal financial aid.
About Capella University
Capella University (www.capella.edu) is a regionally accredited online university* that offers online degree programs designed to help working adults advance in their careers. As of Sept. 30, 2014, over 70 percent of Capella students were enrolled in master's or doctoral degree programs in business, counseling, education, health administration, human resource management, human services, information technology, nonprofit management and leadership, nursing, psychology, public administration, public health, public safety, and social work. Capella also offers bachelor's degree programs in business, information technology, nursing, psychology, and public safety. Within those areas, Capella currently offers 142 graduate and undergraduate specializations and 25 certificate programs, including six new direct assessment degree delivery programs. Approximately 35,000 students were enrolled as of Sept. 30, 2014, from all 50 states and 61 other countries. Capella is committed to providing high-caliber academic excellence and pursuing balanced business growth. Founded in 1993, Capella University is a wholly-owned subsidiary of Capella Education Company (NASDAQ: CPLA), headquartered in Minneapolis. For more information, please visit http://www.capella.edu or call 1.888.CAPELLA (227.3552).
*Capella University is accredited by the Higher Learning Commission.