pillar 1: Students

the need

The growing burden of student debt is hindering ministry effectiveness for future pastors, counselors, and ministry leaders

the vision

Enhance our current scholarship offerings to better launch these future leaders into service for God’s church

THE OPPORTUNITY

COMPLETING FUNDING TOWARD PILLAR 1 WILL ALLOW US TO:

  • Establish 30+ newly endowed scholarships to be given each year
  • Increase annual scholarships by 26%, thus significantly reducing student debt
  • Decrease student debt by $494,000 each year
  • Expand our hybrid/online offerings and resource current learning sites
  • Upgrade campus technologies to serve thousands of learners globally

PILLAR 1: The Goal

$17,000,000

testimony

REV. TONY MYLES (MDIV, ’06)

Senior PASTOR, NEW CITY FELLOWSHIP ST. LOUIS, MO

“I came to Covenant with the help of my mother-in-law. Her financial contributions were the only way I was able to attend Covenant that first semester. Without the full tuition scholarship I received beginning the second semester, I simply would not have been able to attend. Needless to say the scholarship I received helped me finish school and started me on the journey of becoming an ordained teaching elder in the PCA.”

THE facts

  • 52% of our full-time students take out loans to cover seminary training costs
  • Average seminary debt load (not including undergraduate debt): $31,819
  • Amount of government loans students currently borrow each year: $1.7 million
  • Average starting salary in pastoral ministry (in the PCA): $45,000

Donor highlight

On beginning an endowed scholarship for femalestudents in the Master of Arts in Counseling (MAC) program: “Our desire is that many women will receive training so that they can bring the hope and healing of Christ’s love to generations of those suffering with emotional pain and trauma.”

JIM AND JUDY BOYD

campaign DONORS

 

cost to educate a student

  • Average cost of one class for a seminary student: $1,500
  • Average cost for one year of seminary tuition: $15,000
  • Cost to endow a full scholarship for years to come: $400,000

 

the IMPACT OF One SCHOLARSHIP

 

I grew up as an unbeliever surrounded by a life of loneliness, death, and anger. Christ pursued me through the influence and discipleship of a Christian family I knew. My heart was filled with a desire to help people experience the hope and love of Christ that I had found. I spent a few years doing ministry in southeast Asia but knew I needed more training to better serve the Lord. My wife and I saved our pennies for three years so we could come to Covenant to pursue that goal.

As the birth of our second child approached, Kaylee needed to give up her job as a babysitter, which paid our rent. Miraculously, a PCA church in the area offered us free housing in exchange for service in the church. A few months later, though, we found ourselves needing to decide how to divide our last $16 between gas and groceries. Then we got a phone call from the Seminary letting us know I had received the Founders Scholarship, which provided for my final year of study.

When I heard the news, I felt God’s grace pouring over me. All I could do was mutter “Thank you!” over and over again. I could feel Kaylee relax with peace and joy. Six months before the call, we had put $1,000 into my student account at Covenant so that it wouldn’t get spent on anything else. Tuition was now paid for, so we could take that money out to live on.

We will remember that day a long time. It reminds us that God loves our family and is faithful to his promise that we only need to “seek his kingdom and these things will be added unto you” (Luke 10:31). We continue to praise God for his provision for us. We are so thankful to those who give to support the Seminary. -Kyle Maio, MDiv 17