LadyOfSorrows Posted August 11, 2014 Share Posted August 11, 2014 Okay. So I need to tackle my student loans...I finally received some information and realized that I am 40,000 in debt. Yikes... and 20,000 is from one year of grad school. I expect I'll be putting my lean teacher's salary toward my loans right away. Does anyone have any experience with different groups that provide loan assistance? Mater Ecclesiae, maybe? What are the chances of receiving help? To me, it wouldn't feel....proper? to "fundraise" the way I see some aspirants doing these days. I do know that people would like to offer assistance, but I just can't justify creating a fundraising page and expecting everyone to contribute. Although I have offered assistance in the past this way, I personally would feel uncomfortable doing this. Thoughts? Link to comment Share on other sites More sharing options...
krissylou Posted August 11, 2014 Share Posted August 11, 2014 The two that everyone talks about are Mater Ecclesiae and Laboure Society. Laboure will expect you to do the fundraising stuff. That's their model. I'm certainly not saying you SHOULD do the fundraising thing -- but think of it not as expecting everyone to contribute but giving people the opportunity to contribute. Some will want to, some won't. That's okay. But if you have been happy to offer assistance to other people, wouldn't some other people want to offer assistance to you? And would it be a bad thing to give them that opportunity? (Not expectation but opportunity. Some people will and some people won't and both have to be okay.) After all, especially if you're looking at mendicant orders but to some extent with all communities, you'll largely be living off donations for your religious life ... Link to comment Share on other sites More sharing options...
CatherineM Posted August 11, 2014 Share Posted August 11, 2014 Look at it this way. If you had gone in earlier, your order would have paid for your schooling. Where would they have gotten that money? Orders receive funding through internal work, but also through donations. If it is okay for an order to fundraiser to pay tuition costs for members, why is it not okay in your mind to fund raise to pay for tuition costs for an education that will enrichment a religious community? Asking for help is a wonderful opportunity to practice humility. At least that's what my SD is always telling me. On the other end of the equation, I highly recommend looking at Dave Ramsey's website. Following his advice allowed us to become debt free so that we could pursue a desire to adopt a bunch of disabled kids. Link to comment Share on other sites More sharing options...
dominicansoul Posted August 11, 2014 Share Posted August 11, 2014 My thought is this: Please hurry and set up your fundraising page because I am eager to donate... :) Link to comment Share on other sites More sharing options...
TheresaThoma Posted August 12, 2014 Share Posted August 12, 2014 Put one together, if people donate, even a small amount then great. If they don't then you didn't really lose anything. Link to comment Share on other sites More sharing options...
blazeingstar Posted August 13, 2014 Share Posted August 13, 2014 If you're a teacher you can do a few cool things depending on your state First, see if you are eligible for any principle reduction Second, see if you are eligible for no-interest deferment Third, see if you pay your loans tax-free by directly paying them (like a medical bill) Link to comment Share on other sites More sharing options...
Lilllabettt Posted August 13, 2014 Share Posted August 13, 2014 I don't know if you have a time table in mind ... but if your loans are Federal, a portion of them can be cancelled depending on where/what subject you teach. If you work for any tax exempt non-profit for 10 years you can get all remaining federal loans cancelled ... but my guess is you don't want to wait that long! There are also a couple religious communities I know of that will work with you on student loan debt, (more are out there), because as Catherine said they would expect to pay for your education anyway ... maybe you already have somewhere in mind, but its something to consider if you feel strongly about trying religious life sooner rather than later. Link to comment Share on other sites More sharing options...
Lilllabettt Posted August 13, 2014 Share Posted August 13, 2014 Okay. So I need to tackle my student loans...I finally received some information and realized that I am 40,000 in debt. Yikes... and 20,000 is from one year of grad school. I expect I'll be putting my lean teacher's salary toward my loans right away. Does anyone have any experience with different groups that provide loan assistance? Mater Ecclesiae, maybe? What are the chances of receiving help? To me, it wouldn't feel....proper? to "fundraise" the way I see some aspirants doing these days. I do know that people would like to offer assistance, but I just can't justify creating a fundraising page and expecting everyone to contribute. Although I have offered assistance in the past this way, I personally would feel uncomfortable doing this. Thoughts? Re: Mater Ecclesiae My understanding is the chances of receiving help the first go-round are slim unless you have a low amount of debt. But if you make progress on your debt and re-apply your chances go up. I know someone who had a 60,000 dollar debt that she got down to 40k over a couple years, and they helped her. Link to comment Share on other sites More sharing options...
Dominican Nuns Menlo Park Posted August 14, 2014 Share Posted August 14, 2014 Why don't you try the Laboure Society. We have a candidate who went to law school and ended up with a huge debt. She received great support from the Laboure Society who trained her to do fundraising. She has recently 'graduated' from her class because she raised enough money to be able to enter our monastery soon. The Laboure Society is currently accepting application for their next class. You can check them out here: http://labouresociety.org/contact-us/ And the advantages? 1) You'll have good support from the organization and peer group. 2) You'll learn the how-to of fundraising which would be helpful for your congregation in the future :) And 3) People may be more willing to give money to an organization on your behalf than giving it directly to you whom they may not know and not sure of how your vocation would turn out. Praying for you. May God bless your journey and may Mary accompany you! :) Link to comment Share on other sites More sharing options...
Nunsuch Posted August 14, 2014 Share Posted August 14, 2014 (edited) Just cuirous: what happens to assistance from a group like Laboure if someone later discerns out of religious life? [Sorry if this has been answered elsewhere before.] Edited August 14, 2014 by Nunsuch Link to comment Share on other sites More sharing options...
truthfinder Posted August 15, 2014 Share Posted August 15, 2014 Just cuirous: what happens to assistance from a group like Laboure if someone later discerns out of religious life? [Sorry if this has been answered elsewhere before.] I can't remember if it's laboure or Mater Eccelesiae, but with at least one of them, they'll stop putting payments towards your debt when you discern out but there's no obligation to repay what they had already covered. Link to comment Share on other sites More sharing options...
Sister Andrew Posted August 15, 2014 Share Posted August 15, 2014 I agree with others who have posted about the Laboure Society. I've known a couple women that were helped by them and it is a very good program. They give you lots of training and resources and you end up doing lots of fundraising yourself (at least as much as you are able!) I would suggest contacting them and they can tell you what their process is. I'm pretty sure you have to have been accepted by a community to begin working with them (or as least have some kind of agreement with the community that you will be entering). God bless you! Sr. Andrew Link to comment Share on other sites More sharing options...
TheresaThoma Posted August 15, 2014 Share Posted August 15, 2014 With Laboure you do have to be accepted by a community, or have a solid agreement. I believe they pay out in one grant. Mater Ecclesia makes monthly payments though while you are in formation and if you discern out they stop making payments but you don't have to pay anything back. HopefulBride worked with both Laboure and Mater Ecclesia to pay off her debts. If you want to ask her about it I can pass your questions along to her. Link to comment Share on other sites More sharing options...
LadyOfSorrows Posted August 15, 2014 Author Share Posted August 15, 2014 Thank you everyone! I've spoken to both Mater Ecclesiae and Laboure Society and have learned quite a bit! We will see what happens. :) Link to comment Share on other sites More sharing options...
Theotokos123 Posted August 25, 2014 Share Posted August 25, 2014 I paid off all my student loans in a little less than 2 years. I wanted to pay them because I borrowed the money for nursing school. I worked extra shifts and put all my extra money towards them. I graduated 4 years ago and now I am joining a orthodox monastery in January. My advice is set a goal and pray for guidance. If you can get assistance thru one of those organizations go for it. We don't have organizations like that in the Orthodox church. God will guide you Link to comment Share on other sites More sharing options...
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