The Ministerial Education Fund is a service loan, which means that it is paid back by years of service to the Evangelical Methodist Church. These funds are available to students in an accredited Christian College in the Wesleyan tradition who is majoring in Bible, Pastoral Ministry, Christian Education or Missions. These funds are also available for seminary students enrolled in an accredited Theological Seminary in the Wesleyan tradition and approved by the Board of Ministerial Education. Students enrolled in a Theological Seminary will be assisted at a higher level than students in an under-graduate program. For each year of full time ministry service, while under a call to an Evangelical Methodist Church or the Board of World Missions, after being ordained an Elder, one sixth (1/6) of the debt is cancelled. Otherwise, six years of full time ministerial service under a call to an Evangelical Methodist Church as an Elder cancels all outstanding loan obligations.

If an applicant does not complete the process of Ordination as an Elder or drops out of school, the loan is repayable at an interest rate of 6% per annum or the interest rate specified at the time the loan is issued in writing. The Conference Treasurer should be contacted to set up a plan for repayment. Years of service as a Member On Trial do not qualify toward repaying the loan debt. Years of service prior to the loan do not qualify toward repaying the loan debt. If an Elder withdraws or is discontinued from ministerial service the balance of the unpaid loan becomes due and is repayable at an interest rate of 6% per annum or the interest rate specified at the issuance in writing.

Checks for distribution of the Ministerial Education Fund resources are made jointly to the applicant and the school that he/she is attending. The funds must be used only for tuition expenses at the school and cannot be reimbursed to the student. If all funds allocated are not needed by a student, the individual school should refund any surplus to the General Conference Treasurer.

An applicant must be a person in process toward ordination as an Evangelical Methodist Elder to receive funds and must be recommended by the applicant’s home District Superintendent and Board of Ministerial Relations.

Applications are good for the entire academic year (September-May). One does not need to reapply for funds for the Winter/Spring Semester. No funds will be distributed retroactively.

If an applicant is less than a full time student (at less than 12 hours per semester), then the loan will be prorated based upon credit hours being taken.

The loan amount will be set per year by the General Board Ministerial Education and Advance Studies based upon funds on hand and interest rates at the time. The General Board of Ministerial Education and Advanced Studies will confirm the ministerial loan amount.

The purpose of the Ministerial Education Loan Fund is to assist in providing an adequately trained ministry for Evangelical Methodist Churches by:

1. Relieving some of the pressure of limited means, where such pressure may well prevent a ministerial candidate from obtaining the necessary education.
2. Reducing the necessity for too much employment while attending school thus allowing more time for adequate study.
3. Financially assisting students so that Evangelical Methodist pastors will be well trained, well read and well educated to minister fully and freely in Evangelical Methodist churches.
4. Assist financially in churches acquiring program/ministry interns for brief periods of time.
a. An intern may receive financial assistance for three months or one semester whichever is appropriate by the proposed job description.
b. An intern must be a member of good standing in an Evangelical Methodist Church.
c. An intern must be a College, Bible College or Seminary student.
d. The local church must submit a job description to the District Chair of the Board of Ministerial Education and Advanced Studies.
5. Assist in funding the EMC Pastor’s Schools.
6. Provide scholarships for pastors to attend approved Continuing Education Programs in years when the EMC Pastor’s School does not meet.

As of 2/23/2000, an approved Continuing Education event would be:
• Asbury Theological Seminary Minister’s Conference
• Billy Graham School of Evangelism
• Wesley Biblical Theological Seminary Minister’s Conference
• Western Evangelical Theological Seminary Minister’s Conference
• Events sponsored by the Church Growth Institute

Applications will be available from Headquarters.

Regulations and Guidelines for Ministerial Fund Service Loans

A. Loans are made to students who are preparing for membership as an Elder in the Evangelical Methodist Church.

1. All applicants must be a member in good standing in an Evangelical Methodist Church.
2. All applicants must provide a photocopy of the following:
a. High School diploma
b. College or University diploma, if applicable.
3. All applicants must maintain a “C” average or better to be eligible for additional loans the following school year.
4. All applicants must provide a letter of certification of enrollment from the academic institution.
5. A letter from the District Board of Ministerial Education indicating progress toward ordination as an Elder.
6. A letter from the District Board of Ministerial Relations stating that the applicant is a candidate for ministry and seems to be a person with gifts and graces for ministry.
7. A letter of recommendation from the academic institution.
8. A letter of recommendation from the District Superintendent.

B. The Board of Ministerial Education will consider only applicants who are enrolled in a Christian College with a major of: Bible, Christian Education, Pastoral Ministry, Youth Ministry, or Missions or an equivalent Discipline.

C. No loans shall be made for Course of Study work or degrees beyond the Master of Divinity Degree.

D. Criteria for approving applications for loans: The resources being available in the Ministerial Education Fund.