My friend Bill blogged yesterday about a seminary that has changed their policy about student loans. Here is their statement about it:
“It is the formal position of City Seminary of Sacramento to forbid students to incur debt for the purpose of paying tuition expenses. While those embarking upon secular business careers may reasonably expect to repay student debt out of future earnings growth, such an expectation is inappropriate for a graduate who may well be called upon to serve in a poor or even poverty-stricken field of ministry. In keeping with this conviction, the Board of Governors endeavors to provide sufficient tuition scholarship aid so that no qualified student is denied a theological education for financial reasons.”I am not sure how to respond. My first reaction is to cheer such a decision. I do wonder how student debt drives ministers to make foolish decisions just to make ends meet.