Yesterday's post included some initial thoughts on educational loans and some ways to avoid them. This is an especially important issue for those of us in ministry because, let's face it, most ministry positions will not pay enough to service large educational loans and allow one to meet other family obligations. I am convinced that many ministers leave the ministry each year because financial issues have created such stress for their families that seeking other employment is seen as the only way out of their mess. You can criticize that if you want and say that those of us called to ministry have a greater responsibility to that call, but the Scriptures speak harsh words to those who do not care for the needs of their families. I've never had a debt waived because I was in the ministry. When ministers struggle with financial issues it affects their ability to focus on ministry. I am convinced we in leadership positions need to do more to address personal stewardship issues with those already in or those entering the ministry.
In my post yesterday I explained how I spread my education out over several years which allowed me to pay for it as I went. I also benefitted from my employer's policy of paying the tuition for any course which might benefit them. Many companies continue to have such a policy, and some are even more liberal than mine was. Some will pay for any class regardless of how it might apply to the work you are currently doing.
Another way to reduce the cost of education is to look for less expensive alternatives. The professor for an undergrad class I took on production management was retired from a major automobile manufacturer. For many years he worked in the HR department. He explained to us that they cared nothing about what degree a person had or where they earned it. He said the only thing a college degree meant to them when hiring was that this was a person who was capable of learning. Maybe a degree from some high dollar university might mean something to some people, but for most regular people it has very little value. Going to an instate school is much less expensive and has the same value to most people who are seeking employment. Starting your education at a community college can also save you a lot of money. It is possible to take the first two years of required courses at a community college at a fraction of the cost of attending a university. Just make sure this is a school whose credits will transfer to the university when you're ready to complete that degree.
Everything I'm saying also applies to when your children are ready for college. Some parents get themselves, and their children, in financial trouble trying to send them to a school that is beyond their financial ability to cash flow. There is nothing wrong with your children following the advice given above, working during school and the summers to help pay for their education, and cash flowing their education. Your precious eighteen-year-old may want to attend the big party school across the country, but if they are depending on your financial assistance, that is not a choice they get to make. You may have to be the adult here, but part of raising children is refusing to participate in their foolish decisions that will be harmful to their future. Your child can get a quality education that will prepare them well for the future without going into debt and putting their family in financial distress.
Tomorrow I will discuss pursuing seminary education, a topic I've covered in previous posts, but it seems to be appropriate to include it in this discussion of financing education.
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