Memo

To: Financial Aid Officers and Student Support Personnel

Re: Resources for Student Financial Counseling

For several decades, Auburn Seminary's Center for the Study of Theological Education
has been studying the financial situation of students in theological schools. Our studies have
yielded two major findings:
1. Seminary Student Debt is Rising For details, see a 2005 report entitled
“The Gathering Storm: The Educational Debt of Theological Students,” available on our
website, www.auburnsem.org/study.
2. Student Debt Can Be Managed Auburn's research found that schools can
AU B U R N effectively help students understand their financial situation, their financial prospects,
THEOLOGICAL and the obligations they have incurred.
Enclosed is a package of resources to help you and your colleagues raise the financial
SEMINARY
awareness of your students and counsel them as they make decisions on financial matters.
The resources include:
CENTER FOR THE
A 30-Minute Video on DVD : STUDENT LOANS AND SEMINARY COSTS:
STUDY OF
HOW TO KEEP FROM MORTGAGING YOUR FUTURE. The video,
produced by professional filmmakers, highlights the stories of five
Are you mortgaging your ministry?
TH E O L O G I C A L STUDENT LOANS AND SEMINARY COSTS

recent seminary graduates and tells how they financed their theological
An Auburn Media production in association with Reveal Productions

education. It is intended for both prospective and current theological students,

E D U C AT I O N
website: www.auburnsem.org
e-mail: cste @ auburnsem.org
to raise critical questions that they should ask themselves as they
plan their seminary education. The video is best used as the basis for group discussions of
strategies to minimize debt led by a financial aid officer or other administrator who knows
the field of financial aid. Financial planning resources and tools on the accompanying
CD can be distributed at this time as well.

A CD of Resources:
Are you mortgaging your ministry?

Are you mortgaging your ministry?

STUDENT LOANS AND SEMINARY COSTS

CD —TOOLS FOR
FINANCIAL PLANNING
– Family Monthly Budget Schedule
–Affordability Rule-of-Thumb Calculator
■ Suggested strategies to assist students in financial planning
ª Introduction – Debt Repayment Plan
ª Instructions for Financial Planning
ª Manna From Heaven?:
1995 Report on Debt (PDF )
– Post Graduation Budget Plan
ª How Much Do You Need to Earn?
(PowerPoint slides)
■ Worksheets for budgeting, debt repayment and loan affordability
STUDENT LOANS AND SEMINARY COSTS

ª The Gathering Storm: ª On-Line Resources and Tools

■ On-line resources, tools and information

2005 Report on Debt (PDF ) DVD — STUDENT LOANS AND
ª Tools for Budgeting (Excel forms) SEMINARY COSTS:
– Budget Plan HOW TO KEEP FROM MORTGAGING
– Spending Worksheet YOUR FUTURE (30 minutes)

These materials are produced by the Center for the Study of

Theological Education, a research center dedicated to
strengthening institutions that train religious leaders. For further
■ PowerPoint slides to use for presentations
information contact: CSTE , Auburn Theological Seminary,

■ PDF files of Auburn reports on Student Debt

3041 Broadway, New York, NY 10027; tel: 212-662-4315;
e-mail: cste@auburnsem.org.

All but the last of these resources are also enclosed in this mailing in paper form and can be
edited by you to fit your own students' needs.
A FundFinder poster—an on-line searchable database of scholarships
and grants for theological education. (If additional posters are needed
contact Sharon Miller at Auburn Seminary (slm@auburnsem.org.)
These materials are made possible by generous grants from Lilly
Endowment Inc. Please contact us if you need more materials or if we
can help you plan how to use them in your school.
Yours truly,
Sharon L. Miller, Associate Director
Anthony R. Ruger, Research Fellow

■ 3041 Broadway at 121st Street, New York, NY 10027-5710 Tel: 212.662.4315 Fax: 212.663.5214

■ 1201 North Harvey Avenue, Oak Park, IL 60302-1141 Tel: 708.386.5516 Fax: 708.386.7650