President Harrison's seminary fund will come a day late and a dollar short to save both seminaries. He wants to (someday) give the seminaries $1 million per year from a fund that's just being capitalized, but now the federal government is going to be pulling some of its funds for higher education, so the seminaries are now back to square one IF Harrison can pull is fund off. I think they ought to start talking about closing one seminary:
Harrison's Seminary Fund, 2 July 2011
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Former Martin Luther Prep School at Prairie du Chein:
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Interest will accrue on federal students loans taken out at seminary the moment the loan is taken out, and there will no longer be any six-month deferment (grace period) after seminary where the government picks up the interest:
"Grace period":
No payments are expected on the loan while the student is enrolled as a full- or half-time student. This is referred to as in-school deferment. Deferment of repayment continues for six months after the student leaves school either by graduating, dropping below half-time enrollment, or withdrawing. This is referred to as the grace period.
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Because of the cuts to the Stafford Loan Program, graduate students will no longer be able to receive a loan subsidized by the federal government and will begin to accrue interest from the moment the loan is taken. Previously, interest would not be charged until after the graduate student had graduated.
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US debt deal means paying for college - especially graduate school - will get tougher
Subsidized loans. Starting next July, graduate and professional students will no longer be eligible for subsidized federal loans.
Graduate students can take out up to $107,500 in federal loans, of which $42,500 can be subsidized. They’ll still be able to borrow the same amount, but no subsidized loans will be available. The additional cost could push up total debt at graduation by an average of about 16 percent.
But the debt-ceiling ordeal raised the question of whether the government will keep its 6.8 percent rate.
Meanwhile, the rates on private loans would no doubt rise if the country’s credit rating took a hit.
Tax breaks. They could be scaled back. Nearly 10 million taxpayers deducted student loan interest in 2009, according to H&R Block. Taxpayers can also claim a credit of up to $2,500 through next year. After that, they’ll be able to claim a credit of up to $1,800 for the first two years of college.
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Will the 10-year student loan forgiveness program for ministers and NPO workers
be axed before people cash in on it?:
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Lutheran Seminary Fraud:
Students Are Bankrupting Themselves To Provide an Easy Living for the Profs."No Call for You" Threat Stifles Dissent
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Seminaries Ranked by Cost now in Drop Box:
LCMS Seminary Tuition Costs CN 2008 Articlehttp://dl.dropbox.com/u/34974726/seminary_tuition_cn_2008.pdf
All ATS Seminaries Ranked by Cost (PDF):http://dl.dropbox.com/u/34974726/2010_all_ATS_seminaries_cost_rank.pdf
All ATS Seminaries Ranked by Cost (Excel):http://dl.dropbox.com/u/34974726/2010_all_ATS_seminaries_cost_rank.xls
All ATS Seminaries Ranked by Cost (jpeg of chart):http://dl.dropbox.com/u/34974726/2010_cost_rank_all_ats_sems.jpg
All Lutheran Accredited Seminaries Ranked by Cost (jpeg of chart):http://dl.dropbox.com/u/34974726/2010_cost_rank_luth_sems.jpg
All Lutheran Accredited Seminaries Ranked by Cost (PDF):http://dl.dropbox.com/u/34974726/2010_lutheran_seminaries_cost_rank.pdf
All Lutheran Accredited Seminaries Ranked by Cost (Excel):http://dl.dropbox.com/u/34974726/2010_lutheran_seminaries_cost_rank.xls
