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Financing Your D.Min.

You may be interested in a D.Min. program, but you are wondering about how to pay for it.

Money may look like a problem, but it's not an insurmountable obstacle. If this is the place for you, we want to help you find a way to finance your studies. We are willing to contact your church or parachurch board and ask for their help in working out full or shared funding for your program.

Why are we willing to do this? Because scores of participants in our Doctor of Ministry program have told us that it is one of the most significant experience of their lives. It has deepened their understanding and broadened their effectiveness in ministry. It has given them new ideas, new energy, and new direction. We want to help others benefit in the same way from our varied programs.

The following information will give you three ways in which you may be able to underwrite the costs of the Doctor of Ministry studies. Look them over. If you want to study in a Gordon-Conwell D.Min. program, money shouldn't stop you.

Plan 1

Because your church or parachurch ministry will benefit significantly from your studies, begin by seeking funding from that institution. If you wish, Gordon-Conwell will write to your board to propose this.

• You may want to ask your church or parachurch organization to underwrite all of your tuition costs. If your people understand that this is an investment in their own future, they may be willing to take on this expense.
• Because not all organizations are able to pick up the total cost of your program, you may want to present a plan of shared participation in the costs of a D.Min. education. You and your church may discuss your needs and agree to a division of the costs, with you and the church each contributing a percentage of the costs of the program.

The annual cost of the program is $4,300*, billed quarterly ($1,075)**. This makes the monthly cost of the program approximately $358. Your ministry organization may agree to split that monthly cost with you in ways that work for both of you.

Plan 2

If your congregation is able to help with the costs of your Doctor of Ministry studies, you may want to consider the following scenario in four steps:

Step 1:
You and your ministry organization agree on the amounts each of you will contribute to the cost of your doctoral studies.

Step 2:
You apply for a Student Loan (not a government-guaranteed loan) for the program. This includes completing financial aid forms to determine your eligibility.

Step 3:
If you qualify for the loan, your ministry organization sets up an interest-bearing escrow fund into which you and your church contribute on a regular basis. (You may want to have your part automatically transferred from your salary each month.)

Step 4:
Upon the timely completion of your work, when the loan falls due, you can pay off the loan completely with the escrowed fund. Accumulated interest can revert back to the church or be used to cover graduation fees, thesis-project binding, etc.

Plan 3

A limited number of scholarships of up to one-fourth of tuition (funds permitting) are awarded by Gordon-Conwell to outstanding participants based on need, ministry experience, and future ministry goals. Only one scholarship is available per 12 students in a given cohort. Please look at these directions (2007) and application (2007) for this limited scholarship.

If you are a Canadian citizen, please contact the DMin Admissions Coordinator to ask about the Lita and Stewart Gray Canadian Scholarship.

If you have no church or parachurch organization backing you and you need an outside source of funding, low-interest Student Loans can be an important source of support for your Doctor of Ministry studies (see plan 2, step 2). To pursue this fund source, you first complete the financial aid forms to determine your eligibility for the loan program. If eligible, you then complete the loan application.

For detailed information and the application for financial aid, contact the D.Min. Admissions Coordinator at 978-646-4034.

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*The annual costs of the D.Min. track in Marriage & Family Counseling for Professionals is $7,180, billed quarterly ($1,795)**. This makes the monthly cost of this program $598.33.

**effective 7/1/07, subject to change annually.

You can get complete information regarding the application process by calling (978) 646-4034 and asking for the Doctor of Ministry packet of materials. Or you can click here for an on-line request form.