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. Janice Cordell, Financial Aid Director for the past 23 years, retires on May 29.  Aaron Steffens, current Associate Director of Financial Aid, will assume her role on June 1.
  2. The 2020-2021 FAFSA is available for completion.
  3. There are several open work-study positions for the 2020-21 academic year.
  4. Direct Loan interest rates for the 2019-20 academic year have been announced.  The Stafford Loan interest rate will be fixed at 4.53% and the PLUS Loan interest rate will be fixed at 7.08%.  The new rates are down from last year.
  5. Luther's Cohort Default Rate for Fiscal Year 2015 dropped to 1.8%.  The national average for the same period is 10.8%.
  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.