Debt-Free College Strategies for Ministry Families
In episode 19 of the Pastors & Money Podcast, we conclude our three-part series on how parents in ministry can prepare their pastor's kid to earn a college degree debt-free. This episode focuses on practical strategies for current college students or those about to begin college. Topics discussed include adjusting mindsets, reassessing career goals, exploring affordable education options, maximizing scholarships and work-study opportunities, managing budget and expenses, and planning post-graduation finances. Hunt also emphasizes the importance of mentorship and faith-driven financial management. Resources and tips are provided to help families commit to avoiding additional student loans, thus ensuring a financially stable future.
Related Episodes:
Part 1: Early years through middle school planning
Part 2: Second half of high school planning
Resources from this Episode:
"Debt Free Degree" by Anthony O'Neil
Every Dollar budgeting app
Financial Peace University course
Scholarships for Pastors Kids
How to Create a Budget for Beginners
Find a Financial/Career Coach
Transcript:
Helping Pastor's Kids Navigate College Debt-Free
Welcome to the Pastors & Money Podcast. I'm Joy Suzanne Hunt, pastor and financial coach, bringing you conversations about personal finance, church finance and how we disciple our churches in the areas of finance and stewardship. You can find the episode show notes, and more at pastorsandmoney.com. And here's the show. [00:00:00]
Introduction and Biblical Mentorship
Hi there, and welcome to episode number 19 of the Pastors and Money Podcast. Today, we're wrapping up our three part series on college education for ministry families. And our first two episodes, we focused on preparing ahead to avoid student debt. But what if you're currently in college or your student is, or they're about to start?
That's what we'll tackle today. Before we dive in, I've been reflecting on a powerful pattern of [00:01:00] mentorship in the Book of Acts. I love the Book of Acts. It's just one of my favorites, but we see Barnabas going out of his way to find Paul and bring him into the ministry at Antioch. And then later we see Paul and Barnabas doing the same thing with John Mark, bringing him along on their first missionary journey. And this pattern makes me wonder. Who are we bringing alongside us in ministry today? It doesn't have to be a formal mentorship.
Sometimes that's the right thing. Sometimes it's not, maybe it's asking someone to help you set up for an event or having them shadow you while you do hospital visits or while you plan out a banquet. Maybe it's letting them be your armor bearer at a conference or outreach. These seemingly small opportunities to serve and learn can be the starting point for developing future ministry leaders.
So my challenge to you is to think about that. Well, think about who are you bringing alongside? In ministry today. Now let's dive into some practical solutions for college students. [00:02:00]
Core Strategies for Pastor's Kids in College
This is the final episode in our three part series on sending your PK to college debt free. Today, we're focusing on strategies for current college students or those about to start college. So this applies to you if you have a student who is in school already in college already, or about to start. It also applies to you if you are a pastor or studying to be a pastor and you are in college right now, and you realize, Hey, I see so many people around me graduating with crippling student loan debt. I don't. Don't want any of that? What do I do? I'm already in school. If you or your student is already in college and facing debt, don't lose hope. It's not too late to make a change. Let's go ahead and dive in.
Mindset and Financial Management for Students
So first we need to address mindset.