Late Charges

Effective August, 2012:

Students need to keep abreast of payment due dates on their statement of account (student receivable) and keep us informed about pending financial aid, including loans. Those who have an outstanding student receivable balance due or pending financial aid may be assessed a late charge. Students may review their current statement of account on http://my.luther.edu.

On the 10th of each month, a $100 late charge will be assessed on student receivables with an outstanding balance due or with pending financial aid.* 

To determine if you will be assessed a late charge, add your pending financial aid* and any unbilled tuition, room, board, and fees** to the “Amount to Pay” on your statement of account. If the calculated amount is greater than $1000, you will be assessed a $100 late charge each month until it is paid.

*Pending Financial Aid: Please refer to the missing documents on http://my.luther.edu or contact the Financial Aid Office to determine what you need to do so that your aid can be finalized and credited to your student receivable. See below for additional notes about pending financial aid.

**Tuition, Room, Board and Fees: If you have paid an admissions deposit or continuing enrollment deposit and have not yet registered for classes or been assigned a residence hall room, you are responsible for increasing your "Amount to Pay" on your statement of account to include tuition, room, board, the technology fee, and co-curricular activity fee. Calculate the total and remit your payment by the due date to avoid a late charge. After you register for classes and are assigned a room and board plan, your statement will be updated to reflect these charges. (Note: A delay in registering for classes does not delay your responsibility for paying your Luther bill by the due date.)

*Pending Aid in August: Fall semester financial aid as well as private loans in application status will not be credited to student receivable until the end of August. As such, no late charge will be assessed on August 10, unless the “Amount to Pay” apart from loans and financial aid is greater than $1000.

*Pending Aid in September: No late charge will be assessed on September 10, unless the “Amount to Pay” apart from loans and financial aid is greater than $1000.

*Pending Aid in January: Spring semester financial aid as well as private loans in application status will not be credited to student receivable until the end of January. As such, no late charge will be assessed on January 10 for your spring semester invoice unless the “Amount to Pay” apart from loans and financial aid is greater than $1000. You can be assessed a late charge for any fall semester financial aid and private loans that have not yet been credited to your student receivable. Please keep in touch with the Financial Aid Office to determine what need to be done to avoid these late charges. 

*Anticipated Outside Scholarships and EPIC & Founding Congregation Grants (Luther's share and the church's share): These grants and scholarships will be considered exceptions and no late charge will be assessed if they haven’t been credited to your student receivable. However, it is important that you work with the organization or church to ensure the funds are sent to Luther College in a timely manner.

*Pending Vocational Rehabilitation Grants, Military Benefits, and Davis United World Scholarships: These grants and scholarships will be considered exceptions and no late charge will be assessed if they haven’t been credited to your student receivable. Luther College will work with these organizations to ensure your funds are collected in a timely manner.