Debt Numbers Are Down . . .
The Future’s Looking Up!
The financial future is looking brighter and brighter for MLC graduates.
The numbers are in, and we can report that for four straight years, our graduates borrowed less money to pay for their education at MLC. The average debt decreased four years in a row, with this year’s graduating class seeing the biggest drop. Borrowers in the class of 2022 borrowed $1,600 less, on average, than the class of 2021. That’s substantial. In addition, 1 out of 3 graduates in 2022 borrowed no money at all. They are leaving MLC debt-free.
Reducing student debt is one of the primary objectives in our strategic plan, Pursuing Excellence Under the Cross, and we are making progress!
Congregations are giving more to the Congregational Partner Grant Program. (See page 14.) Families, organizations, and other groups are establishing more legacy scholarships. (See pages 26-27.) And individuals like you are being led by the Spirit to give out of the goodness of your hearts. These donors all understand the importance of raising up the next generation of called workers—pastors, teachers, and staff ministers who will share the gospel in congregations and schools across the United States and the world.
Please know that we’ll keep working hard to boost our financial aid and keep our costs in check. We know how important it is that we offer an education of the highest quality . . . at an affordable price.
As those debt numbers keep going down, the future keeps looking up!