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 would like to wish everyone a joyous holiday season.  The college will be closed December 22-January 2.  We look forward to working with everyone in 2022!
  2. It is time to file the FAFSA for the 2022-23 school year.  This can be completed online at studentaid.gov.
  3. 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.
  4. Luther's Cohort Default Rate for Fiscal Year 2017 dropped to 2.2%.  The national average for the same period is 9.7%.
  5. 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.