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| ==Controversy== | ==Controversy== | ||
| ⚫ | Capella University is currently being audited by the United States Department of Education, Office of the Inspector General (OIG) on alegations that they have not returned Title IV funds as required by Federal Law . | ||
| All of the major news media agencies are reporting that Capella University’s Financial Aid Director, Timothy Lehmann, has been placed on paid administrative leave due to an investigation commenced by the New York Attorney General’s Office looking into tactics employed by student loan financing company Student Loan Xpress. | |||
| Financial Aid Director, Timothy Lehmann, has also been placed on leave due to an investigation commenced by the New York Attorney General’s Office on allegations that Lehmann accepted consultant fee's from a student loan company, Student Loan Xpress. Lehmann was doing consulting work for Student Loan Xpress at the same time he was working for Capella. . | |||
| In 2006, Lehmann did some consulting work for Student Loan Xpress while employed by Capella. According to , "Separately, Timothy Lehmann, director of financial aid at Capella University, received more than $13,000 under a consulting agreement with Student Loan Xpress." | |||
| ⚫ | Of the roughly $70 million dollars initially raised by Capella University's stock offering, approximately $50.5 million dollars went to corporate executives and ] who wanted to ] . | ||
| According to , the amount received by Capella's Timothy Lehman from Student Loan Xpress could be as high as $21,000 though all official documents from the New York Attorney General's Office indicate that the amount is considerable less than that and is closer to the $12,400 Mr. Lehmann has disclosed to Capella University officials in a Form K-8 Item 7.01. Regulation FD Disclosure. | |||
| ⚫ | Capella University is currently being audited by the United States Department of Education, Office of the Inspector General (OIG) on |
||
| <blockquote> | |||
| '''"Based on its review to date, the OIG audit staff has identified several such learners for whom it believes proper returns of Title IV funds were not made. For the three year audit period, the total amount of Title IV funds that was not returned for learners that withdrew without providing official notification was approximately $500,000."''' | |||
| </blockquote> | |||
| The Capella Prospectus also states: | |||
| <blockquote> | |||
| '''"Based on the field auditors’ preliminary audit exceptions, which is a preliminary list of issues regarding Capella University’s compliance with Title IV rules and requirements, and our verbal communications with the OIG audit staff, we believe that the most significant potential financial exposure from the audit pertains to repayments to the Department of Education that could be required if the OIG concludes that we did not properly calculate the amount of Title IV funds required to be returned for learners that withdrew from Capella University without providing an official notification of such withdrawal and without engaging in any academic activity prior to such withdrawal."' | |||
| </blockquote> | |||
| ⚫ | |||
| The article further cautions: | |||
| <blockquote> | |||
| '''"Indeed there are other signs that Capella University has been stretching to meet growth targets: | |||
| </blockquote> | |||
| <blockquote> | |||
| '''* At 33% of revenue, selling and promotional costs are much higher than the industry average of 23%. There's a hint that Capella University has been attracting, shall we say, a less committed student. | |||
| </blockquote> | |||
| While Capella University has been trying to obtain accreditation from the American Psychological Association (APA) for many years, they recently voluntarily withdrew their application because their PsyD programs, which were created in 2003, are considered too new to be evaluated by the APA.{{Fact|date=February 2007}} Prior to the introduction of the PsyD program, Capella had offered a PhD in psychology. Capella's withdrawal from the accreditation process is documented on the .'' | |||
| ==Scholarships== | ==Scholarships== | ||
Revision as of 18:46, 14 April 2007
| Type | private, for-profit |
|---|---|
| Established | 1993 |
| Students | 17,976 |
| Location | Minneapolis, MN, USA |
| Website | www.capella.edu |
Capella University is a private, for-profit, specialized distance learning institution of higher learning that is accredited by the Higher Learning Commission of the North Central Association of Colleges and Schools and headquartered in Minneapolis, Minnesota. Capella University offers bachelor's, master's and PhD degrees in business, technology, education, human services and psychology. Capella has 76 graduate and undergraduate specializations and 16 certificate programs. Nearly 45 percent of it students are PhD students. The masters degree programs in counseling are also CACREP accredited. Today, the university has more than 17,900 students from all 50 states and 56 countries.
The school is owned by the Capella Education Company (Nasdaq: CPLA), a publicly traded parent corporation.
History
What is now the Capella Education Company was founded in 1991 by Stephen Shank, former CEO of Tonka. In 1993, The Graduate School of America was founded by Shank and Dr. Harold Abel. In 1999, the company and university were renamed to their current, Capella Education Company and University. Capella has also made business arrangements and academic partnerships with numerous other schools, corporations, and the military.
Schools
Capella University is academically organized into 5 distinct schools.
- School of Education
- School of Human Services
- Harold Abel School of Psychology
- School of Business and Technology
- School of Undergraduate Studies
Controversy
Capella University is currently being audited by the United States Department of Education, Office of the Inspector General (OIG) on alegations that they have not returned Title IV funds as required by Federal Law .
Financial Aid Director, Timothy Lehmann, has also been placed on leave due to an investigation commenced by the New York Attorney General’s Office on allegations that Lehmann accepted consultant fee's from a student loan company, Student Loan Xpress. Lehmann was doing consulting work for Student Loan Xpress at the same time he was working for Capella. .
Of the roughly $70 million dollars initially raised by Capella University's stock offering, approximately $50.5 million dollars went to corporate executives and insiders who wanted to cash out .
Scholarships
Unique scholarships offered to Capella students include:
- League for Innovation Scholarship: A $50,000 doctoral scholarship awarded annually since 2001 to one PhD-level student
- Spirit of Capella Scholarships For Injured Service Members: Five $10,000 scholarships awarded annually to service members wounded in Operation Enduring Freedom or Operation Iraqi Freedom.
- Phi Theta Kappa International Honorary Society Scholarships: Two $5000 awards given to members of PTK. The awards are divided equally over eight quarters with each learner being given $625 per quarter to help cover tuition.
- The Robert C. Ford Human Services Scholarship: Awarded annually to learners enrolled in the School of Human Services
- The Helene Krivosha Scholarship: Two $5,000 scholarships are awarded annually to students enrolled in the School of Education. One at the master's degree level and one at the doctoral degree level.
External links
- Capella University website
- Capella Education Company website
- Capella Education Shares Jump After IPO - Article with information about the audit of Capella University by United States Department of Education, Office of the Inspector General
- Capella University Prospectus filed with Securities & Exchange Commission. Refer to pages 81 & 82 for information regarding audit by USDE, Office of the Inspector General
- Online College Is Hot, But This New IPO in the Space Merits Barely Passing Grades
- Capella University Costs
- KARE asks: How credible is an online degree?
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