Posting of financial aid to student accounts:
All Luther Seminary financial aid (scholarships, grants, stipends and loans) have been applied to student accounts. You can view the balance in your account through the MyLutherNet portal.
To request the balance (or portion of balance) from your account send an email to the business office at firstname.lastname@example.org.
If you are receiving federal student loans we are required to disburse the proceeds to your within 14 days. If you wish to leave a portion of your loan proceeds in your account for future terms you must notify the business office at the above email.
Proceeds from balance requests will be mailed to your address of record. Please check your address in MyLutherNet to verify it is current. If you wish to pick your check up in the business office please include that information in your email.
Reminder about financial aid and taxes:
Scholarships are tax-free when:
• you are enrolled in a degree program;
• the funds are being used to cover required costs for your courses: tuition, fees, books, supplies, and equipment.
If the total amount of your scholarships in a calendar year exceeds the total amount of these costs, the excess amount is taxable income. It is your responsibility to determine your taxable status. For more information, contact the IRS at irs.gov or (800) 829-1040, or a tax professional. You can also review IRS Publication 970 – Tax Benefits for Education on the IRS website, which details scholarships and taxes.
Siebert Grant Recipients
As noted in a separate email, the Siebert Grants have not yet arrived. I will notify you separately when they do. As a reminder, this is the final year for that program.