Seminaries tighten their belts

Wartburg suspending M.A. program
When 85 new students enrolled this fall at Wartburg Theological Seminary in Dubuque, Iowa, the numbers were “beyond our wildest dreams,” said President Duane Larson. But the Lutheran school’s board, looking at a 35 percent drop in its endowment value and a similar decline in individuals gifts, also had to face up to stark financial realities.

The stock market downturn and tightened credit forced the board to take actions that its directors had contemplated earlier because of budget problems over the past decade.

 

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