I am beginning my seminary training at a well respected and accredited seminary. The Fall 2006 tuition is $184 per credit and I will require 91 credits to attain a MDiv.
Without receiving student loans I can afford 1 three credit coarse a semester and three semesters a year for a total of 9 credit per year. At this rate I am looking a ten year degree program.
Now I am aware of grants and scholarships. While in college I received Pell Grants and a scholarship from my state convention (I'm a SBC) I also received a state funded scholarship for attending an accredited college within the state I graduated high school. None of these sources are available for graduate level work.
No there are some job options. I am a full time pastor of a small church and am paid fairly considering the size and wealth of the congregation. I could seek to pastor a larger church, but with out a masters degree I am at a disadvantage. I could quit the pastorate and make more money as a high school teacher. (Our County needs teachers and their starting salaries are higher than mine. I also meet the hiring requirements.)
Then there are student loans. I received some student loans in my quest for a BA. They were government subsidized and on deferment until I graduated. I still owe monthly payments and they would again be deferred will attending seminary. There are two draw backs to securing additional student loans. One, when I graduate there will be higher payment which will require better paying churches. I could no longer afford to serve a small church. The more a grow in my Christian walk the more I desire to avoid accumulating additional debt.
I guess the question I am getting to is, Is it sinful to become so indebted?
Thanks ahead for any thoughts you might share.
raying:
Without receiving student loans I can afford 1 three credit coarse a semester and three semesters a year for a total of 9 credit per year. At this rate I am looking a ten year degree program.
Now I am aware of grants and scholarships. While in college I received Pell Grants and a scholarship from my state convention (I'm a SBC) I also received a state funded scholarship for attending an accredited college within the state I graduated high school. None of these sources are available for graduate level work.
No there are some job options. I am a full time pastor of a small church and am paid fairly considering the size and wealth of the congregation. I could seek to pastor a larger church, but with out a masters degree I am at a disadvantage. I could quit the pastorate and make more money as a high school teacher. (Our County needs teachers and their starting salaries are higher than mine. I also meet the hiring requirements.)
Then there are student loans. I received some student loans in my quest for a BA. They were government subsidized and on deferment until I graduated. I still owe monthly payments and they would again be deferred will attending seminary. There are two draw backs to securing additional student loans. One, when I graduate there will be higher payment which will require better paying churches. I could no longer afford to serve a small church. The more a grow in my Christian walk the more I desire to avoid accumulating additional debt.
I guess the question I am getting to is, Is it sinful to become so indebted?
Thanks ahead for any thoughts you might share.
raying:
