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It's likely that you will not be able to pay for your entire graduate education out of pocket.On face value, graduate theological education can represent a significant financial commitment for you and/or your family.But like everything else about these institutions, tuition and financial assistance vary greatly from school to school.In many Catholic schools, tuition is partially or completely covered by the diocese supporting the students.Similarly, a few denominational schools charge lower tuitions for students from their own traditions.Other schools offer full scholarships to students with academic and vocational promise.Unfortunately, most theological schools do not have the financial ability to offer significant tuition assistance to their students, leaving students with the primary responsibility for financing their education. Students with the The good news is that theological schools are generally a "good bargain" in relation to other forms of professional education.According to ATS, the 2002-03 median tuition for theological schools in the U.S. was $9,000 for masters-level programs and $4,863 in Canada. Compare this to graduate programs in business, engineering, medicine and law and you will quickly realize that a theological education is well-priced in the educational marketplace. Even so, ATS reports that 53% of spring 2002 graduates estimate that they will graduate with personal debt.More than half of these expected their theological education debt alone to total $15,000, and about one third expected a debt total of over $25,000.While these totals are decidedly lower than debts from other professional schools, and theological students can generally apply for federal loan assistance, theological graduates usually earn less upon graduation thereby making debt loads a significant consideration in the decision-making process. You may also find other sources of financial support for theological studies through FTE's FundFinder listing. |
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