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Student loan forgiveness for employees of religious nonprofits? Maybe
02/29/2012

Two reports worth reading
02/26/2012

After bye-bye board member, then what?
02/21/2012

Checking the weather is a board responsibility
02/19/2012

Megadeth = good publicity
01/31/2012


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 Student loan forgiveness for employees of religious nonprofits? Maybe

Student debt cartoon

In January, the U.S. Department of Education released new rules on "loan forgiveness for public service employees." Some seminarians have borrowed money under the assumption that working in a parish setting or chaplaincy would make them eligible for student loan forgiveness under the College Cost Reduction and Access Act of 2007, but the new rules say no. "Your employment at a non-profit organization does not qualify if your job duties are related to religious instruction, worship services, or any form of proselytizing," the new rules say.

The Huffington Post interviewed a Department of Education spokesman to clarify the new rules: 

"Many employees at faith-based social service organizations will be eligible for the PSLF [Public Service Loan Forgiveness] program," said Daren Briscoe, the DOE spokesman. "Individuals working at religiously-affiliated non-profit organizations who perform at least 30 hours of non-religious activities are eligible for PSLF." He added that "consistent with similar long-standing programs, the federal government does not subsidize explicitly religious activity."

Read the new guidelines here. Read the Huffington Post article about the topic here.

 

Posted By: Jay Blossom
Topics: Finance | Students | Vocation
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 Two reports worth reading

For those interested in trends in American religion:

Downward trend arrowA fairly recent report issued by the research coalition Faith Communities Today is called "A Decade of Change in American Congregations 2000-2010," and it contains much worthwhile material. From the executive summary:

Conducted in 2000, 2005, 2008 and 2010, the FACT series shows that the decade brought:

  • A continued increase in innovative, adaptive worship
  • A surprisingly rapid adoption of electronic technologies
  • A dramatic increase in racial/ethnic congregations, many for immigrant groups
  • A general increase in the breadth of both member-oriented and mission-oriented programs

It also gave witness to:

  • An increase in connection across faith traditions
  • A twist in the historical pattern of religious involvement in support of the electoral process

But the decade also saw:

  • A steep drop in financial health
  • Continuing high levels of conflict
  • Aging memberships

The net, overall result:

  • Fewer persons in the pews
  • Decreasing spiritual vitality

This is sobering, but boards and other leaders of theological schools need to understand the religious landscape if they are to be effective. This report and many others from Faith Communities Today are available on the research group's website.

 

For those interested in endowments and major giving:

Upward trend arrowThe Council for Aid to Education recently released its report on fundraising at America's richest institutions. The only surprise: Harvard wasn't on top.

But digging down, it's clear that the year was pretty good even for small institutions. The stock market was up, and giving increased across the board. Almost 95 percent of institutions reported that their endowments were up.

Read the eight-page press release about the council's giving report here. And visit the Council for Aid to Education website for more data on private giving to education.

Posted By: Jay Blossom
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