A few weeks ago, I wrote that our Bible school faculty would soon meet to discuss how best to divvy up the scholarship money you gave over the summer. Well, the faculty met and we decided to prioritize students who had a heavy burden of debt. We ended up receiving enough money to cover seven people for a whole year, which is one less than the number of students in the upper promotion (the class that is currently in its senior year). With one exception, all of these students had accrued a heavy burden of debt.
As a result of the large amount of unpaid debt, the faculty decided to condition the offer of a year’s scholarship to the student upon repayment of 25% of his debt. In the worst case, the student still ended up paying only 50% of what he would normally have paid for the year. (In most cases, students paid 20-25% of what they normally would have paid while cutting into the debt that would have kept them from receiving their diploma upon graduation.) All seven are on track to make their payments, receive their scholarships, and graduate on time. Thank you to those of you who partnered with our students to help make their education affordable!