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IPEDS ID: 413413
OPE ID: 03267300
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Capella University
All programs offered completely via Distance education
225 South 6th Street, 9th Floor, Minneapolis, Minnesota 55402-3389
General information:  (866) 808-4080
Website:  www.capella.edu/
Type:  4-year, Private for-profit
Awards offered:  Bachelor's degree
Postbaccalaureate certificate
Master's degree
Post-master's certificate
Doctor's degree - research/scholarship
Campus setting:  City: Large
Campus housing:  No
Student population:  39,727 (13,280 undergraduate)
Student-to-faculty ratio:  35 to 1
Special Learning Opportunities
Distance education – undergraduate programs offered
Distance education – graduate programs offered
Student Services
Academic/career counseling service
Employment services for students
Undergraduate students enrolled who are formally registered with office of disability services, Fall 2022
3% or less
Carnegie Classification
Doctoral/Professional Universities
Religious Affiliation
Not applicable
Federal Aid
Eligible students may receive Pell Grants and other federal aid (e.g. Direct Loans).
For-credit instruction programs offered
Academic
Continuing professional
Noncredit education offered
Continuing Professional Education
Credit Accepted
Credit for life experiences
Advanced placement (AP) credits
Faculty and graduate assistants by primary function, Fall 2022Full timePart time
Total faculty1801,139
Instructional1801,139
Research and public service00
Total graduate assistants-0
Instructional-0
Research-0
Estimated Expenses for Full-time Beginning Undergraduate Students
  • Beginning students are those who are entering postsecondary education for the first time.
Estimated expenses for academic year2020-20212021-20222022-20232023-2024% change 2022-2023 to 2023-2024
Tuition and fees$14,148$14,148$14,328$14,4360.8%
Books and supplies$429$422$429$422-1.6%
Living arrangement
Off Campus
Food and Housing$5,463$6,000$6,270$6,8709.6%
Other expenses$1,002$1,002$1,002$1,0929.0%
Off Campus with Family
Other expenses$1,002$1,002$1,002$1,0929.0%
Total Expenses2020-20212021-20222022-20232023-2024% change 2022-2023 to 2023-2024
Off Campus$21,042$21,572$22,029$22,8203.6%
Off Campus with Family$15,579$15,572$15,759$15,9501.2%
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This calculator uses estimated student expenses data to estimate the total tuition and fees charged over the duration of a typical 4-year program at this school.
1. Select starting academic year
2. Select tuition inflation rate
 
 

% (0-100 allowed)
  • The output is only an estimate and not a guarantee of the actual amount the student may be charged; it is not binding on the Secretary, the institution of higher education, or the State; and it may change, subject to the availability of financial assistance, State appropriations, and other factors. The student must complete the Free Application for Federal Student Aid (FAFSA) to be eligible for, and receive, an actual financial aid award that includes federal grant, loan, or work-study assistance.
  • The estimated price does not include Food and Housing, books and supplies, etc. (where applicable) and is based on previous years' tuition and fees data. Tuition and fees may vary by program. Please contact this institution for detailed price information.
  • Estimated yearly tuition and fees may not sum to totals because of rounding.
Estimate the total tuition and fee costs over the duration of a typical program.
 Multiyear Tuition Calculator
Average graduate student tuition and fees for academic year2023-2024
Tuition$15,066
Fees$0
  • The Cost of Attendance varies by program.; Additional context: The average tuition and per credit charge for graduate and undergraduate programs does not include the FlexPath option. Prices vary by program and option. For more detailed information on tuition and fees, please go to: https://www.capella.edu/tuition-financial-aid/tuition-fees/
Alternative Tuition Plans and Promise Program
Type of PlanOffered
Tuition guarantee plan
Prepaid tuition plan
Tuition payment planX
Other alternative tuition plan
  • Does not participate in Promise program
Undergraduate Student Financial Aid, 2022-2023
Full-time Beginning Undergraduate Students
  • Beginning students are those who are entering postsecondary education for the first time.
Type of AidNumber awarded aidPercent awarded aidTotal amount of aid awardedAverage amount of aid awarded
Any student financial aid11986%————
Grant or scholarship aid1464%$70,760$5,054
Federal grants1464%$70,760$5,054
Pell grants1464%$63,260$4,519
Other federal grants(*)5%(*)(*)
State/local government grant or scholarships00%$0
Institutional grants or scholarships00%$0
Student loan aid1673%$106,521$6,658
Federal student loans1673%$106,521$6,658
Other student loans00%$0
  • 1 Includes students awarded Federal work study aid and aid from other sources not listed above.
  • (*) Number awarded aid and total and average amounts of aid awarded are withheld to preserve the privacy of individuals.
All Undergraduate Students
Type of AidNumber awarded aidPercent awarded aidTotal amount of aid awardedAverage amount of aid awarded
Degree/certificate-seeking
Grant or scholarship aid15,54842%$20,220,250$3,645
Pell grants4,85637%$17,768,465$3,659
Federal student loans6,05446%$43,587,460$7,200
Non-degree/non-certificate-seeking
Grant or scholarship aid100%$0
  • 1 Grant or scholarship aid includes aid awarded, from the federal government, state or local government, the institution, and other sources known by the institution.

  • For more information on Student Financial Assistance Programs or to apply for financial aid via the web, visit Federal Student Aid.
Average Net Price for Full-Time Beginning Students
Full-time beginning undergraduate students who were awarded grant or scholarship aid from federal, state or local governments, or the institution.
2020-20212021-20222022-2023
Average net price$17,840$14,935$16,975
Full-time beginning undergraduate students who were awarded Title IV aid by income.
Average net price by Income2020-20212021-20222022-2023
$0 – $30,000$17,833$17,602$17,901
$30,001 – $48,000$14,252$17,057
$48,001 – $75,000$14,255$20,489
$75,001 – $110,000$20,044$21,572$22,029
$110,001 and more$19,276$21,572
  • Average net price is generated by subtracting the average amount of federal, state/local government, or institutional grant or scholarship aid from the total cost of attendance. Total cost of attendance is the sum of published tuition and required fees, books and supplies, and the weighted average for Food and Housing and other expenses.
  • Beginning students are those who are entering postsecondary education for the first time.
  • Title IV aid to students includes grant aid, work study aid, and loan aid. These include: Federal Pell Grant, Federal Supplemental Educational Opportunity Grant (FSEOG), Academic Competitiveness Grant (ACG), National Science and Mathematics Access to Retain Talent Grant (National SMART Grant), Teacher Education Assistance for College and Higher Education (TEACH) Grant, Federal Work-Study, Federal Perkins Loan, Subsidized Direct or FFEL Stafford Loan, and Unsubsidized Direct or FFEL Stafford Loan. For those Title IV recipients, net price is reported by income category and includes students awarded federal aid even if none of that aid was provided in the form of grants. While Title IV status defines the cohort of student for which the data are reported, the definition of net price remains the same – total cost of attendance minus grant aid.
Net Price Calculator
An institution’s net price calculator allows current and prospective students, families, and other consumers to estimate the net price of attending that institution for a particular student.
Visit this institution's net price calculator
Fall 2022
Total enrollment39,727
Undergraduate enrollment13,280
Undergraduate transfer-in enrollment4,836
Graduate enrollment26,447
Undergraduate Attendance StatusUndergraduate Student Gender
Undergraduate Attendance Status:
Full-time: 25%
Part-time: 75%Undergraduate Student Gender:
Male: 17%
Female: 83%
Undergraduate Race/ethnicity
Undergraduate Race/ethnicity:
American Indian or Alaska Native: 0%
Asian: 3%
Black or African American: 23%
Hispanic/Latino: 13%
Native Hawaiian or other Pacific Islander: 1%
White: 50%
Two or more races: 3%
Race/ethnicity unknown: 6%
U.S. Nonresident: 0%
Undergraduate Student AgeUndergraduate Student Residence
Undergraduate Student Age:
24 and under: 8%
25 and over: 92%
Age unknown: 0%Undergraduate Student Residence:
In-state: 0%
Out-of-state: 100%
Foreign countries: 0%
Unknown: 0%
  • Age data are reported for Fall 2021.
  • Residence data are reported for first-time degree/certificate-seeking undergraduates.
Undergraduate Distance Education Status
Undergraduate Enrollment by Distance Education Status:
Enrolled exclusively in distance education courses: 100%
Enrolled in some, but not all, distance education courses: 0%
Not enrolled in any distance education courses: 0%
Graduate Attendance Status
Graduate Attendance Status:
Full-time: 22%
Part-time: 78%
Graduate Distance Education Status
Graduate Enrollment by Distance Education Status:
Enrolled exclusively in distance education courses: 100%
Enrolled in some, but not all, distance education courses: 0%
Not enrolled in any distance education courses: 0%
Undergraduate application fee (2023-2024): $50
  • This institution has an open admission policy. Contact the institution for more information.
  • Although Capella fits the IPEDS definition of open admission, we require applicants to: (a) have a high school diploma, (b) be at least 24 years old, and (c) have at least one transferable credit or successfully complete both a reading and writing assessment.
First-to-Second Year Retention Rates

Retention rates measure the percentage of first-time students who are seeking bachelor's degrees who return to the institution to continue their studies the following fall.

Retention Rates for First-Time Students Pursuing Bachelor's Degrees
Student retention:
Full-time students: 36%
Part-time students: 27%
Percentage of Students Who Began Their Studies in Fall 2021 and Returned in Fall 2022
Overall Graduation Rate and Transfer-Out Rate

The overall graduation rate is also known as the "Student Right to Know" or IPEDS graduation rate. It tracks the progress of students who began their studies as full-time, first-time degree- or certificate-seeking students to see if they complete a degree or other award such as a certificate within 150% of "normal time" for completing the program in which they are enrolled.

Some institutions also report a transfer-out rate, which is the percentage of the full-time, first-time students who transferred to another institution without completing at the current institution.

Note that not all students at the institution are tracked for these rates. Students who have already attended another postsecondary institution, or who began their studies on a part-time basis, are not tracked for this rate. At this institution, 0 percent of entering students were counted as "full-time, first-time" in 2022.

Overall Graduation and Transfer-Out Rates for Students Who Began Their Studies in Fall 2017
Overall graduation rate:
Overall graduation rate: 33%
Transfer-out rate: 11%
Percentage of Full-time, First-Time Students Who Graduated or Transferred Out Within 150% of "Normal Time" to Completion for Their Program
Bachelor's Degree Graduation Rates

Bachelor’s degree graduation rates measure the percentage of entering students beginning their studies full-time and are planning to get a bachelor’s degree and who complete their degree program within a specified amount of time.

Graduation Rates for Students Pursuing Bachelor's Degrees
Bachelor's degree rate:
[Began in Fall 2015]
4-year: 50%
6-year: 50%
8-year: 50%
[Began in Fall 2017]
4-year: 25%
6-year: 25%
Percentage of Full-time, First-time Students Who Graduated in the Specified Amount of Time and Began in Fall 2015 or Fall 2017
6-Year Graduation Rate by Gender for Students Pursuing Bachelor's Degrees
6-Year Graduation Rate by Gender for Students Pursuing Bachelor's Degrees:
Male: 50%
Female: 17%
Percentage of Full-time, First-time Students Who Began Their Studies in Fall 2017 and Received a Degree or Award Within 150% of "Normal Time" to Completion for Their Program
6-Year Graduation Rate by Race/Ethnicity for Students Pursuing Bachelor's Degrees
6-Year Graduation Rate by Race/Ethnicity for Students Pursuing Bachelor's Degrees:
Black or African American: 0%
White: 33%
Race/ethnicity unknown: 33%
Percentage of Full-time, First-time Students Who Began Their Studies in Fall 2017 and Received a Degree or Award Within 150% of "Normal Time" to Completion for Their Program
  • Alternative measures of student success are reported by degree-granting institutions to describe the outcomes of degree/certificate-seeking undergraduate students who are not only first-time, full-time students, but also part-time attending and non-first-time (transfer-in) students. These measures are also reported for students receiving Pell grants and those students that do not receive Pell grants. These measures provide the 8-year award-completion rates by award level (certificates, associate's and bachelor degrees) after entering an institution. For students who did not earn any undergraduate award after 8-years of entry, the enrollment statuses are reported as either still enrolled at the institution, or subsequently transferred out of the institution. Unlike the Graduation Rates data, all reporting institutions must report on their transfer outs regardless if the institution has a mission that provides substantial transfer preparation.
FULL-TIME, FIRST-TIME DEGREE/CERTIFICATE-SEEKING UNDERGRADUATES WHO ENTERED IN 2015-16
Award and enrollment rate:
[All students]
Received a certificate: 2%
Received a Bachelor's degree: 15%
Enrolled at same institution: 0%
Enrolled at different institution: 20%
[Pell]
Received a certificate: 3%
Received a Bachelor's degree: 6%
Enrolled at same institution: 0%
Enrolled at different institution: 22%
[Non-Pell]
Received a certificate: 0%
Received a Bachelor's degree: 27%
Enrolled at same institution: 0%
Enrolled at different institution: 18%
PART-TIME, FIRST-TIME DEGREE/CERTIFICATE-SEEKING UNDERGRADUATES WHO ENTERED IN 2015-16
Award and enrollment rate:
[All students]
Received a certificate: 0%
Received a Bachelor's degree: 13%
Enrolled at same institution: 1%
Enrolled at different institution: 22%
[Pell]
Received a certificate: 0%
Received a Bachelor's degree: 10%
Enrolled at same institution: 0%
Enrolled at different institution: 24%
[Non-Pell]
Received a certificate: 0%
Received a Bachelor's degree: 20%
Enrolled at same institution: 1%
Enrolled at different institution: 17%
FULL-TIME, NON-FIRST-TIME DEGREE/CERTIFICATE-SEEKING UNDERGRADUATES WHO ENTERED IN 2015-16
Award and enrollment rate:
[All students]
Received a certificate: 0%
Received a Bachelor's degree: 38%
Enrolled at same institution: 0%
Enrolled at different institution: 38%
[Pell]
Received a certificate: 0%
Received a Bachelor's degree: 26%
Enrolled at same institution: 1%
Enrolled at different institution: 44%
[Non-Pell]
Received a certificate: 0%
Received a Bachelor's degree: 49%
Enrolled at same institution: 0%
Enrolled at different institution: 33%
PART-TIME, NON-FIRST-TIME DEGREE/CERTIFICATE-SEEKING UNDERGRADUATES WHO ENTERED IN 2015-16
Award and enrollment rate:
[All students]
Received a certificate: 0%
Received a Bachelor's degree: 26%
Enrolled at same institution: 1%
Enrolled at different institution: 39%
[Pell]
Received a certificate: 0%
Received a Bachelor's degree: 18%
Enrolled at same institution: 1%
Enrolled at different institution: 44%
[Non-Pell]
Received a certificate: 0%
Received a Bachelor's degree: 34%
Enrolled at same institution: 1%
Enrolled at different institution: 33%
Completions (Number of awards conferred) 2022-2023
Completions are the number of awards conferred by program and award level.
sort byProgramUndergraduate
Certificate
Postgraduate
Certificate
BachelorMasterDoctor
  • Data shown are for first majors.
  • (-) Program is not offered at this award level.
  • d identifies programs and award levels that are offered as a distance education program. For program category totals, d is shown if one or more programs in the category are offered as a distance education program.
Biological and Biomedical Sciences
Epidemiology-0d---
Category total-0d---
Business, Management, Marketing, and Related Support Services
Accounting3d0d101d0d5d
Business Administration and Management, General-0d519d440d16d
Business Administration, Management and Operations, Other-0d0d-45d
Business, Management, Marketing, and Related Support Services, Other----0d
Business/Commerce, General----0d
Entrepreneurship/Entrepreneurial Studies-0d-0d-
Finance, General--8d0d4d
Human Resources Management and Services, Other---15d-
Human Resources Management/Personnel Administration, General-34d166d287d18d
Information Resources Management---0d3d
Labor and Industrial Relations---0d-
Management Science-0d3d28d2d
Marketing/Marketing Management, General--10d0d0d
Non-Profit/Public/Organizational Management-0d-0d2d
Organizational Behavior Studies---1d-
Organizational Leadership---0d41d
Project Management--78d164d5d
Purchasing, Procurement/Acquisitions and Contracts Management---0d7d
Category total3d34d885d935d148d
Computer and Information Sciences and Support Services
Cloud Computing--3d--
Computer and Information Sciences and Support Services, Other--0d--
Computer and Information Sciences, Other----2d
Computer and Information Systems Security/Auditing/Information Assurance-1d42d51d30d
Computer Programming, Specific Applications0d-10d--
Computer Systems Analysis/Analyst---0d-
Computer Systems Networking and Telecommunications---13d-
Computer/Information Technology Services Administration and Management, Other---0d-
Data Modeling/Warehousing and Database Administration--2d--
Data Processing and Data Processing Technology/Technician--9d--
Informatics--1d--
Information Technology--81d6d7d
Information Technology Project Management-1d3d9d3d
System, Networking, and LAN/WAN Management/Manager0d-12d0d-
Category total0d2d163d79d42d
Education
Administration of Special Education----0d
Adult and Continuing Education and Teaching-0d-21d35d
College Student Counseling and Personnel Services---0d-
College/Postsecondary/University Teaching-0d---
Counselor Education/School Counseling and Guidance Services-84d-178d30d
Curriculum and Instruction-2d-28d42d
Early Childhood Education and Teaching---51d-
Education, General-0d-83d1d
Education, Other-0d-8d0d
Educational Administration and Supervision, Other----0d
Educational Leadership and Administration, General-4d-40d93d
Educational Statistics and Research Methods-0d---
Educational/Instructional Technology-1d-29d12d
Health Occupations Teacher Education-0d-0d0d
Higher Education/Higher Education Administration-0d-27d10d
Reading Teacher Education-0d-24d23d
Secondary School Administration/Principalship-0d--5d
Special Education and Teaching, General---21d-
Teacher Education and Professional Development, Specific Levels and Methods, Other-0d-0d5d
Teacher Education and Professional Development, Specific Subject Areas, Other-0d-2d-
Teaching English as a Second or Foreign Language/ESL Language Instructor---10d-
Category total-91d-522d256d
Engineering/Engineering-related Technologies/Technicians
Engineering/Industrial Management----0d
Category total----0d
Family and Consumer Sciences/Human Sciences
Family and Community Services-0d-0d8d
Category total-0d-0d8d
Health Professions and Related Programs
Clinical Nurse Leader-0d-132d-
Clinical/Medical Social Work---378d0d
Drama Therapy/Therapist-0d---
Geriatric Nurse/Nursing---0d-
Health Information/Medical Records Administration/Administrator--60d--
Health Services Administration---0d0d
Health/Health Care Administration/Management-0d233d573d16d
Marriage and Family Therapy/Counseling-74d-320d-
Medical Informatics-13d0d202d0d
Mental Health Counseling/Counselor-203d-454d-
Nursing Administration-5d-714d-
Nursing Education---574d32d
Nursing Practice-0d-0d175d
Play Therapy/Therapist-31d---
Public Health, General-9d37d60d44d
Public Health, Other-0d-0d7d
Registered Nursing, Nursing Administration, Nursing Research and Clinical Nursing, Other-0d-2d-
Registered Nursing/Registered Nurse--5,561d1d-
Substance Abuse/Addiction Counseling-35d-29d4d
Category total-370d5,891d3,439d278d
Homeland Security, Law Enforcement, Firefighting and Related Protective Services
Criminal Justice/Safety Studies-0d11d9d9d
Crisis/Emergency/Disaster Management--0d6d24d
Cyber/Computer Forensics and Counterterrorism-0d-11d-
Homeland Security-0d0d0d-
Homeland Security, Law Enforcement, Firefighting and Related Protective Services, Other---0d0d
Category total-0d11d26d33d
Multi/Interdisciplinary Studies
Gerontology---0d-
Intercultural/Multicultural and Diversity Studies-0d---
Multi-/Interdisciplinary Studies, Other-0d---
Category total-0d-0d-
Psychology
Applied Behavior Analysis-163d37d1,025d10d
Applied Psychology---68d-
Clinical Psychology---95d8d
Counseling Psychology-0d-1d0d
Developmental and Child Psychology---144d7d
Educational Psychology---59d12d
Family Psychology---1d0d
Forensic Psychology---93d-
Health/Medical Psychology----0d
Industrial and Organizational Psychology---137d31d
Performance and Sport Psychology---41d-
Psychology, General--556d148d53d
Psychology, Other---0d0d
Psychometrics and Quantitative Psychology---0d-
School Psychology-0d-9d11d
Category total-163d593d1,821d132d
Public Administration and Social Service Professions
Community Organization and Advocacy---70d-
Health Policy Analysis----2d
Human Services, General---24d43d
Public Administration--0d39d16d
Public Administration and Social Service Professions, Other---0d0d
Social Work----70d
Category total--0d133d131d
Social Sciences
Social Sciences, Other---0d42d
Category total---0d42d
Grand total36607,5436,9551,070
Services and Programs for Servicemembers and Veterans
Yellow Ribbon Program (officially known as Post-9/11 GI Bill, Yellow Ribbon Program)
Credit for military training
Dedicated point of contact for support services for veterans, military servicemembers, and their families
Member of Department of Defense Voluntary Educational Partnership Memorandum of Understanding
Tuition policies specifically for Veterans and Servicemembers
Educational Benefits, 2022-2023
Number of students receiving benefits/assistance
Number of students receiving benefits/assistance:
Post-9/11 GI Bill Benefits - undergraduates: 536
Post-9/11 GI Bill Benefits - graduates: 1034
DoD Tuition Assistance Program - undergraduates: 17
DoD Tuition Assistance Program - graduates: 52
Average amount of benefits/assistance disbursed through the institution
Average amount of benefits/assistance disbursed through the institution:
Post-9/11 GI Bill Benefits - undergraduates: $7,103
Post-9/11 GI Bill Benefits - graduates: $8,028
DoD Tuition Assistance Program - undergraduates: $2,029
DoD Tuition Assistance Program - graduates: $2,068
RETENTION RATES
RETENTION RATES FOR FIRST-TIME, DEGREE/CERTIFICATE EDUCATION BENEFIT USERS PURSUING BACHELOR'S DEGREES
RETENTION RATES FOR FIRST-TIME, DEGREE/CERTIFICATE EDUCATION BENEFIT USERS PURSUING BACHELOR'S DEGREES
Full-time students: 82%
Part-time students: 64%
Retention rate is the percentage of undergraduate students who began their studies in academic year 2013-14 and returned in academic year 2014-15
  • No varsity sports data reported for this institution. Data on varsity athletics are submitted annually as required by the Equity in Athletics Disclosure Act (EADA), by all co-educational postsecondary institutions that have an intercollegiate athletics program. For the most recent data collection, EADA did not collect data on varsity athletics for programs that were cancelled due to the Coronavirus Pandemic.
Institutional Accreditation
AccreditorStatusNext Review Date
Higher Learning CommissionAccredited since ((!)01/01/1997)08/31/2033
Programmatic Accreditation
Accreditor / ProgramStatusNext Review Date
Commission on Collegiate Nursing Education
Nursing (CNDNP) - Nursing education programs at the doctorate degree levelsAccredited since (04/11/2012)06/30/2026
Nursing (CNURED) - Nursing education programs at the baccalaureate degree levelsAccredited since (04/04/2011)06/30/2026
Nursing (CNURED) - Nursing education programs at the graduate degree levelsAccredited since (04/04/2011)06/30/2026
 No Longer Recognized  National Council for Accreditation of Teacher Education
Teacher Education (TED) - Baccalaureate and graduate programs for the preparation of teachers and other professional personnel for elementary and secondary schoolsAccredited since (10/22/2010)12/31/2018
  • (!) Estimated date
  • For more detailed information on accreditation for this institution, including all actions and justification for actions, visit OPE's Database of Accredited Postsecondary Institutions and Programs: ope.ed.gov/dapip/#/institution-profile/160959.
  • The crime data reported by the institutions have not been subjected to independent verification by the U.S. Department of Education. Therefore, the Department cannot vouch for the accuracy of the data reported here.
  • The crime statistics displayed only includes On-Campus data associated with the main campus as listed on College Navigator. For statistics associated with each campus location, off campus data, and for additional information covering Hate Crimes, and Fire statistics see https://ope.ed.gov/campussafety.
  • The On-Campus data do not include incidents that: (a) took place on public property, including thoroughfares, streets, sidewalks, and parking facilities, that is within the campus, or immediately adjacent to and accessible from the campus; (b) took place on any building or property owned or controlled by a student organization that is officially recognized by the institution; or (c) took place on any building or property owned or controlled by an institution that is used in direct support of, or in relation to, the institution's educational purposes, is frequently used by students, and is not within the same reasonably contiguous geographic area of the institution.
Three-year Official Cohort Default Rates
Fiscal Year202020192018
Default rate0.0%1.1%5.2%
Number in default0214961
Number in repayment18,66418,23318,229
Aid Programs
  • Federal Direct Loan (Direct Loan)