Seminarians and debt: Educational, future ministry choices affected
A student who stacks up thousands of dollars of student loans getting an MBA or going to law school may have a pretty good fourth-quarter plan: graduate and get a job that pays big bucks.
But a minister?
Studies show that students graduating from seminary are lugging away increasingly heavy piles of debt, and that in some cases concern over the money owed affects the type of position that person can consider taking after graduation. Someone who feels the pressure to pay off the debt may be reluctant to take a call at a small rural church that can't pay much, as the pastor of a new church development, or doing missionary work for a nominal salary.
"Certainly if there's a significant amount of debt coming out of seminary, that enters your call process with churches," said Ann Clay Adams, the admissions director at Columbia Theological Seminary in Decatur, Ga.
A new minister wonders: "Am I going to be able to pay my bills" on the salary that church can afford, Adams said. "The less debt that a student can graduate with, the more open they can be to all the calls that are out there," including those in small towns or rural congregations.