Contact: Jo Brosius FOR IMMEDIATE RELEASE
Telephone: 859.858.2309 November 26, 2012
ASBURY THEOLOGICAL SEMINARY RECEIVES A $249,741 GRANT FROM LILLY ENDOWMENT TO ADDRESS STUDENT DEBT ISSUES FOR FUTURE MINISTERS
WILMORE, Ky. (November 20, 2012) – Asbury Theological Seminary has been awarded a $249,741 grant by Lilly Endowment in the Endowment’s Theological School Initiative to Address Economic Challenges Facing Future Ministers. The purpose of the three-year pilot program is to enable theological schools to examine and strengthen their financial and educational strategies and practices in order to improve the economic well-being of future pastoral leaders.
The funding will allow Asbury Seminary to understand the financial issues impacting students and alumni, create institutional efficiencies to reduce costs, explore new partnerships with under-graduate institutions, re-imagine old delivery models and establish a robust financial literacy education program for students and their families. Dr. Timothy C. Tennent, President of Asbury Seminary, said, “We are grateful to Lilly Endowment for funding this initiative. High student debt can undermine a new pastor’s ministry and negatively impact his or her family for many years. This project is unique because it addresses this issue of student debt both within the student’s life and within the institution. This layered approach will position us to graduate students who are not only financially literate but financially healthy.”
Lilly Endowment Inc. is an Indianapolis-based private philanthropic foundation created in 1937 by three members of the Lilly family – J.K. Lilly Sr. and sons J.K. Jr. and Eli – through gifts of stock in their pharmaceutical business, Eli Lilly & Company. The Endowment exists to support the causes of religion, education and community development. Lilly Endowment’s religion grantmaking is designed to deepen and enrich the religious lives of American Christians. It does this largely through initiatives to enhance and sustain the quality of ministry in American congregations and parishes.
About Asbury Theological Seminary:
With multiple campuses, Asbury Theological Seminary is an interdenominational graduate school of theology committed to teaching the unchanging truth of historic Wesleyan Christianity through the most dynamic means available. Asbury Seminary offers a variety of degrees, including the master of arts, master of divinity, master of theology, doctor of ministry and doctor of philosophy in intercultural studies, biblical studies. Total current enrollment nears 1,600 students, representing 91 denominations and 44 countries. For more information, please visit asburyseminary.edu.