Financial Wellness Program
Economic Challenges Facing Future Ministers
Aims and Purposes
At 麻豆视频 (麻豆视频) our approach to theological education is unique. Though some students come our way directly after completing their bachelor degrees, we actively target second-career students and enable them to customize schedules that fit with their complex work and family lives. Students can enroll part-time or full-time in day and evening classes on our two campuses: in New Brunswick, New Jersey, and in New York, at St. John鈥檚 University in Queens. Many students remain fully employed and we maintain our relationships with them through personalized, individual attention and advisement.
Our delivery of this program emphasizes coaching and individual attention, which are the successful trademarks of our unique education. Our aim continues to be to change the thinking and habits of affiliated churches and organizations by enhancing their awareness of the need to help support the financial costs of seminary education and also to consider more broadly the fairness of compensation for clergy and faith leaders as an issue of justice and faith as well as promoting physical and spiritual health.
Click here to request a financial coach.
Program Components
The program components are designed to provide consumer information, courses, financial aid workshops and one-on-one counseling. Students will be exposed to core topics concerning financial wellbeing, including:
- Financing Theological Education. Guidance on potential sources for funding a theological education infused with real-life examples of successful seminarians who used multiple approaches to financing their education.
- Negotiating Fair Compensation and Benefits, including 鈥淧ay-for-Service.鈥� Realistic salary ranges, the trend toward consulting or 鈥減ay-for-service鈥� versus in-house resources, and understanding cost structures of self-employment (taxes, insurance, vacation, sick time, etc.).
- Evaluating Prospective Employers. The job interview goes both ways鈥攅valuating the financial soundness of prospective employers (for-profit, non-profit and churches).
- Approaches to Handling Debt. A comprehensive look at consumer debt (car loans, mortgages, credit cards, etc.) as well as education loans as part of a person鈥檚 total financial health. Research and present models of debt repayment programs and re-negotiating debt repayment based on percentage of actual salary.
Click here for a list of helpful Financial Resources.
Financial Resources
Video – Student Loans and Seminary Costs 鈥� This 30-minute video by Auburn Theological Seminary provides an overview of what students can expect when financing a seminary education.
– Sign up for free webinars designed to help you on your path to financial wellness. Topics include goal setting, credit reporting, managing credit, debt repayment, and budgeting.
– Create and follow a spending plan. A realistic monthly spending plan is a valuable tool to guide your spending and saving decisions.
–聽Learn how to responsibly manage and get rid of debt.
–听Financial calculators make financial decisions much easier based on hard and fast numbers.
For additional information or questions contact
Dr.聽 Terry A. Smith
Associate Dean of Institutional Assessment
Associate Professor of Biblical Studies
(732) 247-5241
tsmith@nbts.edu