This is the fourth item on my list of things you need to consider when choosing a seminary (see “#1, doctrine” ; “#2, faculty” ; #3, academic reputation). But it is something I have addressed in several posts already. In some sense it may be the most important thing to consider–can you afford seminary?

Rather than rehash things I have written let me direct you to these posts:

 “Seminary won’t solve all your doctrinal quagmires, but it may create some financial ones.”

 “Education for the sake of being educated.”

 “‘Too poor to take the vow of poverty,’ or, more on seminaries and student debt.”

“Advice for applicants to graduate school/seminary.”

See also:

Bureau of Labor Statistics: Clergy

David Briggs, “Seminary Debt Rising: Clergy Postpone Starting Families, Face Bankruptcy” 

John Byron, “Indebted for God? Seminaries and the Debt Trap”

Russell Moore, “Student Loan Debt and the Future of Seminaries”

Anthony Ruger, Sharon L. Miller, and Kim Maphis Early, “The Gathering Storm: The Educational Debt of Theological Students”

Your finances are important. You need to budget, save, and be prepared for a job market that may not pay well. If you don’t consider the cost of seminary education you will be blindsided. 

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