Financial Aid FAQ

Click on the type of aid in which you are interested on the financial aid page.

Eligibility depends on various factors and you may see the application requirements on the financial aid page. After you apply, you may contact the Financial Aid Office to discuss the possible types of aid for which you may be eligible.

If you have completed your FAFSA and been accepted into Luther Rice, check your email for updates or requests for needed information.

No, you do not have to borrow the maximum amount of federal loan funds. You can downsize your loan amount before you accept it within the Financial Aid Portal. Please borrow as little as possible to minimize your debt level.

The Cohort Default Rate (CDR) is the rate of students that entered repayment during a certain time period and defaulted on their student loans. Luther Rice's CDR for 2019 is 1.5%.

Professional Judgments (PJ)

The Financial Aid Office facilitates a Professional Judgment application for a student if the situation (e.g., dependency override, income reduction, medical expenses etc.) dictates that an adjustment should be made to the student’s financial aid information.  If the PJ applicant is selected for verification, that process must be completed before a PJ is issued.  The Financial Aid Office will retain all documentation used to substantiate the PJ.  The decision of the Financial Aid Director is final.

Types of Professional Judgements

1. Special Circumstances refer to the financial situations that justify an aid administrator adjusting data elements in the estimated Cost of Attendance (COA) or in the EFC calculation. Examples include, but are not limited to, loss of a job, divorce or separation, medical expenses not covered by insurance, death, etc.
2. Unusual Circumstances refer to the conditions that justify an aid administrator making an adjustment to a student’s dependency status based on a unique situation (e.g., human trafficking, refugee or asylee status, parental abandonment, incarceration), more commonly referred to as a dependency override.

A student may have one or both a special circumstance and an unusual circumstance. Students must have an appropriate year FAFSA submitted before an appeal is considered. To request an appeal, please complete, sign, and submit the Professional Judgment Form with a letter of explanation and the required documentation found in each description, to the Financial Aid Office via My Secure File Transfer within MyCampus  If you would rather mail or fax your documents, the contact information is below. Please allow 2-3 weeks for our response after all documentation has been received.

Luther Rice College & Seminary

ATTN: Financial Aid

3038 Evans Mill Rd

Lithonia, GA 30038

Fax: 678-990-5388

The aid comes to the school, is then applied to your student account, and a refund is processed to you of any excess monies.

Luther Rice does not engage in any consortium agreements with other institutions so you could not consider another institution's course toward your enrollment at Luther Rice for financial aid purposes.