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 Monday-Friday from 8 am to 5 pm.  Please contact us with your questions.
2. The Luther College website is currently undergoing a migration to a new platform.  During this progress, we are discovering broken website links.  If you are experiencing difficulty downloading a form or linking to necessary information, please email fina[email protected] for assistance.  Thank you for your patience.
3. More information on the recently announced on the one-time student debt relief can be found at studentaid.gov/debt-relief-announcement/.
4. Direct Loan interest rates for the 2022-23 academic year have been announced.  The Stafford Loan interest rate will be fixed at 4.99% and the PLUS Loan interest rate will be fixed at 7.54%.  The new rates are up from last year.
5. Luther's Cohort Default Rate for Fiscal Year 2018 dropped to 0.5%.  The national average for the same period is 2.3%.
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.