Seminary Loan Repayment Aid
For Active Clergy Serving Congregations. ​The simple truth is that over several decades in the Episcopal Church, seminary costs have skyrocketed while parish and diocesan support have decreased. Our expectations and requirements for well-educated clergy, however, have not changed. Our clergy are caught in the middle with some saddled with huge seminary debt. Others called to ministry may be deterred from going to seminary at all because of the cost. This is difficult for clergy and their families, but the greatest loss may be the health of our congregations when pastoral leadership and care become scarce.
 
The Episcopal Diocese of Indianapolis is committed to assisting our clergy to overcome this barrier. Utilizing the Ministerial Excellence Fund, the diocese offers seminary loan assistance to our active, stipendiary and non-stipendiary clergy serving congregations.
 
The Ministerial Excellence Fund will provide $500 for loan assistance to each person submitting an application. Additionally, the Fund will match the applicant’s personal loan payments made in 1/12th increments for each year of participation in the program. For example, a cleric participating for the first time will receive $500 PLUS a 1/12th match of personal seminary loan payments made the previous year. During the second year, the cleric will receive another $500 PLUS a 2/12th match of personal payments made, and so forth.
  • Clergy who wish to participate in the program must submit the appropriate 2020 loan payment documentation and application to the Canon for Administration and Evangelism by February 15, 2021. Please see the form below.
  • Payments will be paid directly to the lending institution(s).
  • For clergy employed for a partial year, the diocese will pay $500 for the previous year. The 1/12th match will kick in on the cleric’s first full year of employment.
  • If a cleric is able to make an unusually large payment in a single calendar year, the Ministerial Excellence Fund will match the payment up to $5,000.
  • If a cleric pays off his or her loan during the calendar year, the cleric should contact the Canon for Administration and Evangelism to negotiate the final estimated match.
  • The diocese through the Ministerial Excellence Fund provides assistance for seminary debt only at this time.
  • Clergy receiving seminary aid are responsible for paying all applicable income taxes based upon current IRS and state guidelines for the full amount paid to lending institution(s). Please consult your personal professional advisor for more information.

Questions?
Please contact Melissa Hickman, Pathways to Vitality Program Director, at melissa.e.hickman@gmail.com