 |
|
Budgeting for Seminary
Each student’s personal budget will vary depending on circumstances, spending habits,
and values. In addition to educational expenses, students will have other general expenses such
as:
- Housing
- Utilities/Phone
- Grocery/Incidentals
- Auto Payment/Insurance/Fuel/Maintenance
- Clothing
- Recreation
- Health/Life Insurance
- Child Care
- Previous Student Loans for Self or Spouse
- Consumer Debt
- Emergency Funds
Students are encouraged to carefully analyze what their budget needs will be and what sources
of income they may have available to them. For income and resources, students should look at
the following:
- Cash and savings—any liquid assets, but not a home, primary business or retirement
accounts.
- Wages while in seminary. Each student is expected to report a minimum of $4000 of income,
after taxes, each year. The spouse of a student who is not also a student is expected to contribute
a minimum of $8000 in income to the family budget.
- Other income such as VA or Social Security benefits.
- Denominational support from your home congregation, your local governing body, and your denomination.
- Websites and other resources to help you budget and manage your assets, as
well as determine your priorities and values regarding money. Here are a few helpful sites
with information and calculators.
 www.money.cnn.com
www.financialrecovery.com
- The Lloyd Center for Pastoral
Counseling also offers counseling on issues around money.
- Grants, scholarships, or awards from sources other than SFTS. For other sources of support, click
here.
We have projected some of the costs associated with attending SFTS for you to use as a guideline.
Estimated Northern California
Student Expenses for the 2007-2008 Academic Year
| Expense |
Single |
Married |
 |
| |
| Tuition [1] |
$9900 |
$9900 |
| Fees |
$200 |
$200 |
| Bookstore Membership [2] |
$60 |
$60 |
| Books |
$1200 |
$1200 |
| Rent |
$6511 [3] |
$6511 |
| Food and Household Supplies |
$945 |
$1417 |
| Personal Expenses [4] |
$2576 |
$2828 |
| Utilities |
$330 |
$383 |
| Clothing |
$472 |
$945 |
| Telephone |
$614 |
$614 |
| Computer/Internet |
$710 |
$710 |
| Health Insurance |
$2607 |
$5735 [5] |
| Automobile expenses |
$2026 |
$2026 |
| |
| Expense |
Married with 1
Dependent |
Married with 2 or
more Dependents |
|
| |
| Tuition |
$9900 |
$9900 |
| Fees |
$200 |
$200 |
| Bookstore Membership |
$60 |
$60 |
| Books |
$1200 |
$1200 |
| Rent |
$7344 |
$7928 |
| Food and Household Supplies |
$2126 |
$2658 |
| Personal Expenses |
$3534 |
$4417 |
| Utilities |
$456 |
$488 |
| Clothing |
$1050 |
$1312 |
| Telephone |
$614 |
$614 |
| Computer/Internet |
$710 |
$710 |
| Health Insurance |
$7805 |
$7805 |
| Automobile expenses |
$2026 |
$2026 |
| Child care |
(~$6000) |
(~$6000) |
|
|
| Total [6] |
$37,025 |
$39,318 |
Notes:
1. Check the GTU website for MA tuition.
2. One-time-only fee. May be paid in 2 installments.
3. 1-Bedroom apartment.
4. This may include charitable giving.
5. Insurance is only required for the student, however coverage is available for family members.
This amount reflects coverage for two adults.
6. Does not include child care.
| One-bedroom units |
|
$652-723 |
| Two-bedroom units |
|
$745-816 |
| Three-bedroom units |
|
$840 |
| Houses |
|
$1061 |
|
