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.
Luther's Cohort Default Rate for Fiscal Year 2015 dropped to 1.8%. The national average for the same period is 10.8%.
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.