CAP — Centenary Affordability Program
Centenary College is committed to making high-quality education attainable for all families through CAP, an innovative financing solution utilizing both academic scholarships and federally guaranteed interest-free loans. Designed with flexibility in mind, CAP loans and scholarships may also be combined with other sources of funding on a case by case basis to help you maintain a manageable and comprehensive budget for all four years of your Centenary education.
- CAP makes available three potential academic scholarships - the Trustee's, Dean's, and President's Scholarship.
- CAP can be combined with other financial aid for which your son or daughter may qualify.
- The CAP Loan is open to all parents of entering students beginning with the Fall 2005 who qualify for a Federal PLUS loan.
- The College will pay the interest on an annual CAP Loan of up to $20,000 for a maximum of four years of continuous undergraduate study.
- Because this is a federally guaranteed loan program, your first payment is generally not due until February of the freshman year.
- The graduated payment option allows you to begin making payments as low as $248 per month on a loan amount of $20,000. These payments will increase annually as a family borrowers more. You may pay additional amounts in order to decrease your principal faster.
- The lender for this program is the Louisiana Education Loan Authoridy, LELA. A parent borrower may initiate the credit approval from the LELA web site. Look for ‘Parent PLUS Loan Pre-approval Request’ on the left side of the LELA web page. If approved, the parent borrower will be notified immediately of that decision. Centenary will also be notified of the credit decision.