Sorry to post another dismal post about debt, but it is a harsh reality we need to wrestle with.
As stated before, this information comes from a survey conducted by The Association of Theological Schools (ATS). The survey questioned 5,113 graduates from the 2006-2007 school year, covering 130 seminaries.
Today, we look at what the Educational Debt Incurred at Seminary translates to on a monthly basis. Of the 5,113 seminary graduates, here is how much their monthly educational debt payment will be:
MONTHLY EDUCATIONAL DEBT PAYMENT
42.4% – None
15.9% – Less than $200
21.1% – $200 to $349
11.7% – $350 to $499
7.9% – $500 to $1,000
1.1% – More than $1,000
Now, something I failed to mention the other day was that this is STRICTLY educational debt. Who knows how much those payments will be if it were to include credit cards or car payments.
This is a big burden that you must truly weigh when you think about seminary.
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