Seminary aims to offer free education
More than half of the graduates at Louisville Presbyterian Theological Seminary this year borrowed an average of $20,600 to earn their master's degree—not an uncommon handicap for seminarians today as they await a call to ministry or seek other employment.
But in a bold venture believed to be unique for mainline seminaries, the Kentucky school affiliated with the Presbyterian Church (U.S.A.) recently adopted a long-range plan to provide full scholarships for all master's degree candidates by fall 2015 and stipends to cover living expenses by fall 2021.
Many students enter graduate studies already encumbered by loans from their undergraduate days. At Louisville Seminary, officials said that incoming students that have such debt have owed between $23,000 and $25,000. Annual tuition at Louisville is about $10,200 a year.
