Lilly Endowment Inc. has awarded more than $12.3 million for 51 theological schools across the United States as part of the second round of its Theological School Initiative to Address Economic Issues Facing Future Ministers. Concordia Seminary is a thankful recipient of a part of this grant.
Recent research indicates that student educational debt in excess of $30,000 is not uncommon for seminary graduates, and some students are graduating from seminary with loans of more than $100,000. The financial pressures caused by these debt levels severely limit the ability of seminary graduates to accept calls to Christian ministry and undermine the effectiveness of too many pastoral leaders.
To help address this issue, Lilly Endowment created the Theological School Initiative to Address Economic Issues Facing Future Ministers. The initiative’s aim is to encourage theological schools to examine and strengthen their financial and educational practices to improve the economic well-being of future ministerial leaders.
“Concordia Seminary through its Center for Stewardship will use the funding to conduct research on the components of student debt,” commented Rev. Wayne Knolhoff, director of the Center. “It will aim to assist current students in limiting debt, and assist congregations, pastors, and students by providing resources to address various stewardship issues.”
For more information on the Center for Stewardship, please contact Rev. Knolhoff at email@example.com.