Scholarships
Scholarships Allow More Students to Say, "Yes!" to God's Call
Students enter into the ministry at great cost to themselves. The cost of a seminary education is rising and with it the level of student debt.
Thirty-one percent of seminary graduates leave without educational debt. For the remaining 69%, the median indebtedness is $42,279. High debt levels limit the types of calls students can accept, especially to rural or inner-city congregations which cannot pay high enough salaries to allow students to cover their debt payments.
Scholarship gifts are an important way to help curb student debt and allow more students to say, "Yes!" to God's call!
Jennifer Hinman was able to say to God's call to ministry due to a presidential scholarship. When considering seminary, Hinman asked herself, "Can I afford to answer God's call into ministry?" When she received her her full-tuition scholarship, she realized the answer was, "Yes!"
Make a scholarship gift now!
Meet Hannah Johnson, '10, scholarship recipient
Watch this video.
Luther Seminary Student Budget
The average student receives $5,227 in scholarships and grants. As the sample student budget below shows, this leaves a significant gap for students to fill. The figures are for a typical single student, living on campus for the 2012-13 school year.
| Tuition |
15,000 |
| Room and Board |
6,120 |
| Books and Fees |
2,000 |
| Transportation |
3,000 |
| Misc. Personal |
6,750 |
| Total |
$32,870 |
Scholarship Facts
Luther Seminary awarded $2.6 million in scholarships and financial aid during 2012-13. In addition, local congregations provide additional assistance. On average, this covers approximately half of the cost of tuition, but students still incur significant living expenses that must be covered through employment, loans or other sources of income.
Debt Facts
Sixty-nine percent of Luther Seminary graduates graduate with student loan debt.
Median Indebtedness for Students
Long Range Costs of Student Loans
| Amount |
Percent |
Time |
Monthly Payment |
| Per $1,000 |
6% |
10 years |
$11.10 |
| If $44,000 ('07 average) |
6% |
10 years |
$488.40 |
|
(Monthly beginning salaries for graduates generally range from $2,000 to $3,000.)
|
Acording to an Auburn study of theological students, excessive debt can result in:
- Impacting career choices
- Creating stress in professional and personal life
- Holding back from purchasing a home
- Preventing from saving for their children’s education
- Delaying health care costs
- Affecting morale
Read more about the impact of scholarship dollars:
