What's New

What's new in Financial Aid?

Information on this page will change regularly to account for new happenings in financial aid.

  1. The Financial Aid Office will be closed November 26-29 for the Thanksgiving holiday.
  2. Several new scholarship applications have been added to the website this week.
  3. The Federal Perkins Loan is no longer available to new borrowers.  Students who received a Federal Perkins Loan from Luther prior to the 2015-16 academic year may be eligible to borrow additional Federal Perkins Loan if they remain in the same major.
  4. The interest rate on Federal Stafford Loans borrowed between July 1, 2015 and June 30, 2016 is fixed at 4.29%.  Federal Parent Loans (PLUS) borrowed for the same time period have a fixed rate of 6.84%.
  5. On May 10, 2015, the FSA ID replaced the PIN number as a means of electronically signing the FAFSA and loan documents as well as signing into Federal Student Aid websites.  A FSA ID can be created at the following address: https://fsaid.ed.gov/npas/index.htm.
  6. The Financial Aid Office is excited to announce the launch of GradReady.  This money management website allows students to learn more about topics like credit, student loans and identity theft.