Change Maker by Compass Catholic Ministries

Money Stories: The Effect of Student Loan Debt on Vocations

June 26, 2020

In this week's episode of Money Stories, Anne Folan discusses the toll student loan debt is taking on vocations. Anne is a member of the board of directors of the Mater Ecclesiae Fund for Vocations, a nonprofit Catholic organization that makes grants for student loan debt relief for young men and women with vocations to religious life. 

45 million Americans owe student loan debt, collectively owing more than $1.5 trillion dollars. Two out of every three college graduates will graduate with a student debt load averaging over $30,000. For individuals discerning a call to religious life, student loan debt can create a tremendous obstacle they didn't consider when pursuing their college degrees because religious communities usually don't allow a person with unresolved debts to enter formation. 

Mater Ecclesiae Fund for Vocations:

Compass Catholic Ministries:

Matthew 6:24-“No one can serve two masters. He will either hate one and love the other, or be devoted to one and despise the other. You cannot serve God and mammon."



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