Money Matters

Going to seminary is different than going to a different graduate school.  It is still higher education, but it is higher education with no promise of higher pay.  Going to med school to become a doctor or to law school to become a lawyer will likely pay well in the long run, provided you graduate and find a job.  Going to seminary, on the other hand, is not likely to pay any more than not going to seminary.  It may increase the chances of being hired as a minister, but it is not likely to increase the salary offered.  Simply put, pastors do not make very much money whether they have a seminary degree or not.

This makes paying for seminary a sticky issue.  In many cases, student loans are the only options offered to prospective seminarians.  While school debt is considered "smart" debt in most cases, the matter deserves special attention.  Should you take out a loan for higher education if you already have loans from your undergraduate?  Will you be able to work two jobs to pay off the loans you accrue after graduation?  What percentage of new graduates are being hired by your denomination?  Are bivocational pastors common?  Even with two jobs will you be able to pay off the loans?

Sometimes it doesn't seem to matter what you think about the wisdom of student loans.  Grants are few and far between, and many schools cannot afford to give any scholarships.  Working full time and going to school is a viable option for some, but others do not have enough time or energy for that.  A good part time job will likely cover living expenses like a place to stay, food to eat, and gas for getting to work and school, but there might not be much left over.  Being married and having a spouse to help carry the financial option is probably the best option when possible, but some seminaries seem to rely too heavily on students using this option which discriminates against single seminarians.

It is a dilemna, but there is hope.  Private scholarships are sometimes offered by a local church or by a denomination.  Websites used for finding undergrad scholarships also have some good offers sometimes.  However, the pickings are still slim.  Maybe someday there will be more scholarships available to help struggling seminarians.  Until then, maybe we'll find some other viable options for paying for seminary.