CV NEWS FEED// A report by Georgetown University’s Center for Applied Research in the Apostolate (CARA) for the Labouré Society found that student debt is becoming an increasing impediment for people discerning a religious vocation.
The study found that 80% of dioceses have men applying to the seminary who still have student loan debt. Seventy percent of the interviewed religious institutions reported that they are impacted by student debt, and 19% of the institutions reported an increase in candidates who have student loan debt.
The Labouré Society is dedicated to financially assisting men and women who are discerning religious life but have significant student debt preventing them from entering a community. The Society helps participants “raise the funds to resolve the financial obstacles that stand between them and their vocation, while providing lifelong skills that prepare them for a life of service,” their website states.
In response to CARA’s report, the Labouré Society stated that all who finish the Labouré program are “free to enter formation or seminary.” People who undergo their program have “100% mitigation of up to a quarter million dollars per program participant.” The Society deals with all loan issues, whether they’re directly made to students or are parent PLUS loans.
