Federal Parent PLUS loan applications can now be completed for the upcoming year. Starting with the 2015-16 academic year, parents interested in a Federal PLUS Loan will complete their initial application online at https://studentloans.gov/. This replaces the paper application we have used in previous years.
Continuing student financial aid awards for 2015-16 will be available on my.luther.edu in mid-May if the student's financial aid file is complete. E-mails will be sent to students when their awards are ready for viewing.
Beginning with the 2015-16 academic year, the Financial Aid Office will no longer require students to complete the Continuing Student Questionnaire.
On May 10, 2015, the FSA ID will replace the PIN number as a means of electronically signing the FAFSA and loan documents as well as signing into Federal Student Aid websites. Look for more information later this winter on the transition to FSA ID.
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.
The interest rate on Federal Stafford Loans borrowed between July 1, 2014 and June 30, 2015 will be fixed at 4.66%. Federal Parent Loans (PLUS) borrowed for the same time period will have a fixed rate of 7.21%.