Students, Student Loan Debt, & Personal Relationships
My ministry locally is with college students. My official job is as a recruiter or mentor. However, one thing has become evident in the last several months. In the ministry, which is a missions organisation, we have put heavy emphasis on the Great Commission. However, the problem that has evolved has been the focus on the Great Commission. When many people think about the Great Commission, they think about missions and then think about foreign missions. However, the Great Commission is more than foreign missions. It is about everything that we are to be doing as a church and more specifically a Christian.
And Jesus came and spake unto them, saying, All power is given unto me in heaven and in earth. Go ye therefore, and teach all nations, baptizing them in the name of the Father, and of the Son, and of the Holy Ghost: Teaching them to observe all things whatsoever I have commanded you: and, lo, I am with you always, even unto the end of the world. Amen.” Matthew 28:18-20
The Great Commission says to teach all nations, which is inclusive of our own, no matter where we live. If we are not about teaching and discipling, then we are not carrying out the commands of Jesus. Education is part of the commission. In discipling, it requires teaching the Bible. One of the major areas of omission is in finances. According to USA Today, college seniors graduated in 2006 with an average of $19,000 in school debt. Currently, Liberty University says that at the time of graduation in 2007, the average student had borrowed $21,171. They estimate payments for 10 years at 7% interest to be $246 per month. Moving on to credit card debt, the average graduate student in 2006 had a balance of $8612 according to Nellie Mae. Of great importance is the next statistic from Nellie Mae:
Of the graduate student survey respondents, 93% would have liked more information on financial management topics before they started school and would like financial management education made available to them now.
For undergraduates in 2004, Nellie Mae says that the average outstanding balance was $2,169. More than half of the undergraduates that had credit cards had a balance less than $1000.
Between credit card debt (especially for graduate students) and student loan debt, seems to be a growing issue. Then you have to ask yourself, is getting my degree going to pay in the long run to have several thousand in debt to make a minimal salary? Moreover, should ministers be accumulating such debt? Then thinking of missionaries, if they have large student loans, it may be a barrier to mission service.
To be continued....