MEF – Seminary Debt Reduction
Through its grant from the Lilly Endowment National Initiative to address the economic challenges facing pastoral leaders, the Episcopal Church Foundation (ECF) is offering grants in 2021 to help designated students alleviate their seminary debt. You are eligible to apply for this grant as you attended one of the Church Pension Group/Episcopal Church Foundation’s Success After Seminary regional meetings as follows:
- April 9, 2021 (virtual)
- April 17, 2021 (virtual)
- September 24-25, 2021, Philadelphia, PA
The grants must be used to make loan payments above and beyond the normal repayment/amortization schedule (i.e., principal) and will be awarded on the basis of financial need and the demonstrated capacity to manage debt, handle day-to-day finances and plan for the future. Grants will range from $3,000-$5,000 and will be paid in one lump sum.
To apply for a grant, applicants need to:
- Submit an application on ECF’s website by November 1, 2021.
- Match the amount of the grant from your own finances or from family, friends, congregation, diocese or other sources and provide a letter from the source of the matching funds verifying the amount and date to be received. Letters should be submitted to Kjerstin Besser at firstname.lastname@example.org.
- Establish a relationship, if one does not exist now, with a financial planner/advisor or a Church Pension Group representative to review your financial planning and debt reduction plans.
Grantees will be notified if the application has been accepted and awards will be made by December 2021.
Feel free to share this announcement with your potential donors/sources for your matching funds. If you have any questions or would like support from ECF in discussing this opportunity, please contact Kjerstin Besser, Associate Program Director of Leadership, at email@example.com.
For further information on ECF’s Lilly Endowment Initiative, please refer to our website here.
Lilly Project Coordinator