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 2020-2021 FAFSA is available for completion.
  2. There are several open work-study positions for the 2020-21 academic year.
  3. Direct Loan interest rates for the 2020-21 academic year have been announced.  The Stafford Loan interest rate will be fixed at 2.75% and the PLUS Loan interest rate will be fixed at 5.30%.  The new rates are down from last year.
  4. Luther's Cohort Default Rate for Fiscal Year 2015 dropped to 1.8%.  The national average for the same period is 10.8%.
  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.