Student Responsibility for Payments
Luther expects students to accept the responsibility for making the necessary arrangements to have bills paid on a timely basis. Consequently, communications concerning outstanding balances are sent directly to students, not to parents. Please pay close attention to payment due dates and other deadlines.
Web Statement of Account
You may access your statement of account by going to http://my.luther.edu, logging in using your user ID and Norse Key, and selecting the Students menu. Then select Web Statement of Account. The web statement of account will appear in the same format as the printed statements. You will be able to view cash receipts, monthly payment plans, and work credit plans as soon as they are processed. Any changes to your statement of account caused by revisions to your financial aid, will also be available for immediate viewing. Consult the help screen for printing and emailing information.
A student can grant permission for a parent to use the parent portal to view the student’s financial and/or academic information via http://my.luther.edu. This permission also allows the parent to have conversations with Financial Services. For more information on the parent portal go to Parent Portal.
Schedule of Payments
In June (July for returning students), you will receive a statement of account showing your basic charges (for example: tuition and fees) and credits (for example: financial aid awarded) for fall semester. In December, you will receive a statement of account showing your charges and credits for spring semester. Paying the balance on your account can be done several ways:
• Pay by the Year – the full year’s payment is due August 10. If you choose this option, you may use the monthly payment plan worksheet to help you calculate the amount of your payment. You do not have to return the worksheet to Luther; it is simply a tool to help you calculate your payment.
• Pay by the Semester – the fall semester payment is due August 10; the spring semester is due January 10. If you choose this payment option, you may use the monthly payment plan worksheet to determine the amount of your payments without waiting for your statement of account. You do not have to return the worksheet to Luther; it is simply a tool to help you calculate your payment.
• Pay by the Month – Luther manages its own interest-free monthly payment plan. The monthly payment plan allows you to budget and pay for your Luther charges in 8 manageable monthly installments (July-Oct and Dec-Mar). If you would like to participate, simply complete the monthly payment plan worksheet and return it to the Office for Financial Services (please keep a copy for your records). Your first monthly payment is due July 15. If you do not receive your financial aid award in time to begin the monthly payment plan by July 15, you may still participate by including all back payments with your first payment. Please see the worksheet for more detailed information, including the free Electronic Funds Transfer (EFT) option. Note, there is a setup charge of $100 per semester for plans which do not use the EFT option.
On the 10th of each month, a $100 late charge will be assessed on student receivables with an outstanding balance or with pending financial aid. For more information about the $100 late charge, pending financial aid, and unbilled tuition, room, and board, to to Late Charge.
Work Credit Plan
Your financial aid award most likely contained work-study as one of the options to help you pay for college. In order for you to use a portion of your work-study earnings to help pay for college, you must participate in the work credit plan. Please complete the application and return it to the Office for Financial Services by July 1 (please keep a copy for your records). See the application for more details.
Alternative Financing Options
The Financial Aid Office has already provided you with information regarding alternative financing options, which assist families with spreading out educational expenses over an extended period of time.
For specific information and application materials, please contact the Financial Aid Office at 563-387-1018 or 800-458-8437 ext. 1018. [Note: Most private loans require three weeks to process and should be done for the full year’s balance. Please begin the application process early enough to have loans approved by the processor prior to August 10.]
If additional charges (for example: music lessons, extra credit hour charges) are incurred during the year, you will receive an email requesting you to review your web statement of account to facilitate payment of these charges.
Student receivable is defined as the account where your charges and credits (such as financial aid or payments) are recorded. Your statement of account lists your student receivable transactions in detail, as well as providing a summary of your monthly payment plan and work credit plan accounts.
For more information on charges, late charges, and refund policies, please refer to the Cost and Payments Information page on the Office for Financial Services website. The Office for Financial Services can be contacted at 563-387-1015 or 1-800-458-8437 ext 1015.
Each April, returning students will receive an email indicating the new forms are available on the website. Forms are not sent out to returning students.