North/West Lower Michigan Synod
God's Work. Our Hands.
Home > Resource > Seminary Debt Reduction Assistance Program

Seminary Debt Reduction Assistance Program

image

According to Luther Seminary, the average seminary student indebtedness is $62,000. Unlike other professions, it is more challenging for pastors and deacons to repay their student loans because of the compensation pastors and deacons receive.

Indebtedness impacts pastors and deacons in several ways:

  • 52% of pastors surveyed say loans negatively impacted their standard of living.
  • 30% of pastors surveyed are bi-vocational.
  • 26% of pastors surveyed left ministry due to financial pressure.
  • 25% of pastors surveyed pursue higher paying ministry opportunities.
  • 24% of pastors surveyed postpone healthcare

The North/West Lower Michigan Synod Council has approved a plan to begin to address the burden of seminary education debt born by many of our rostered ministers–pastors and deacons and will annually award $2000 grants directly to lending institutions for educational debt to be applied to the principal of a rostered minister’s seminary student loans.

Seminary debt reduction assistance is available to rostered ministers:

  1. Who are in their first twenty (20) years of ministry after becoming a rostered minister of the ELCA;
  2. Who have graduated from an ELCA seminary or other approved theological institution of higher education;
  3. Who are serving in an active full-time or part-time call within the NWLMS;
  4. Who have outstanding seminary-related educational debt; and
  5. Who comply with application procedures, deadlines, and other requirements as stated within the Program guidelines and this Seminary Debt Reduction Assistance Applicant Information and Instructions.

Application and Documents