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 is open during the summer from 8:00 am to 5 pm Monday-Thursday and 8:00 am to 2:30 pm on Friday.  Visitors to our office must wear a mask and maintain social distancing.  Students are allowed to bring no more than one other person to the office with them. 
  2. We encourage students to schedule phone or virtual appointments with us to discuss their financial aid.
  3. Please take a moment to review our updated Financial Aid Refund policies that have been put into place recently.  These policies have been updated to reflect changes made to tuition refund policies.
  4. Direct Loan interest rates for the 2021-22 academic year have been announced.  The Stafford Loan interest rate will be fixed at 3.73% and the PLUS Loan interest rate will be fixed at 6.28%.  The new rates are up approximately 1% from last year.
  5. Luther's Cohort Default Rate for Fiscal Year 2017 dropped to 2.2%.  The national average for the same period is 9.7%.
  6. Be sure to use www.fafsa.gov to complete the FAFSA.  This site will allow you to file the FAFSA free of charge.  There are other sites that will charge you a fee to file the FAFSA.