Student Debt Kills

Joshua Walker —  June 4, 2012 — 1 Comment

Ball and ChainEternity Bible College exists for several reasons; one of them is to provide a quality, life-transforming education at a price that students are able to afford so they can graduate debt-free.  We are committed to this because we believe student debt is deadly.  How many dreams of serving God in various ways have been killed by student debt?  How many people do you know who wanted to serve God overseas but had to stay and pay of their debt first and never made it?

One of the main responsibilities of the church is to pass on what has been entrusted to us so that another generation can run their race faithfully and prepare another generation to follow them.  We, as the current generation of the church, are responsible to prepare a generation to run their race faithfully as we hand them the baton.  The problem with the high cost of Christian education is that we end up shackling a 40 lb. iron ball to their leg at the same time that we’re asking them to run their race.  That isn’t right, and we’re out to change it.

The total cost for a Bachelors degree from Eternity is currently less than $21,000 for an entire 4-year degree.  That is not per year, even though it would still be cheaper than many Christian colleges even if it were.  There are two main ways that we are able to offer this degree for this price.  First, we keep our costs down by being efficient at what we do.  We are no-frills.  This is more like a boot camp than a country club.  Our total expenditure per student is currently at $5,800.  The average for Bible Colleges our size (less than 200 full time equivalency) is $26,432 (according to data from the Association for Biblical Higher Education).  By that measure, we are incredibly efficient – cutting about 78% of the cost of an average school.

The other way we do this is by generous donors who believe in this same vision.  This is where I’d like to ask you for help.  We have a current need of $115,000 between now and August.  If you believe that the future generation of leaders in the church should not be shackled by a giant weight of student debt, would you consider investing in Eternity?  That may sound like a number that is too big for you to help, but it isn’t.  One of the greatest supports that Eternity receives is from regular donors who give $20, $50, or $100 per month on a regular basis.  If you feel like you can’t help, trust me, you can!

You can give a one-time or recurring gift here.

On May 19, 2012 Eternity graduated 25 students.  Those students are serving in 19 different local churches.  They graduated paying less than $14,000 for their Bachelor’s degree.  They are involved in ministry.  They are pursuing God’s calling on their lives.  They are part of the future generation of leaders for the church.

Please consider investing in the almost 200 students that are currently enrolled at Eternity, living and serving here in Simi Valley, CA and around the country (and several other countries!) through our online program.

Some of our faculty will also be exploring the problem of student debt in great depth over the next several days. Stay tuned. You might be surprised.

 

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Joshua Walker

Joshua Walker

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Joshua Walker is the president of Eternity Bible College. He has been a follower of Christ since 1990 and is married with two elementary age children. He is an elder at Cornerstone Community Church in Simi Valley, CA. He originally studied to be an engineer, but after working the aerospace industry for 7 years was convinced the Lord wanted him to go to seminary. In 2004, a year before graduating from Seminary, he was part of the team that started EBC. His passions include: reforming Christian Higher Education, developing kingdom workers to go to the ends of the earth, and helping the church develop a robust biblical theology.
  • Robert

    Thank you for your vision! As someone working very hard to pay off student loans I know the struggle of being “a slave to the lender.” It really does limit what you’re able to do in terms of ministry. I pray that God would provide as you seek Him.