Community Assumes Aspirant's Nearly $100,000 Debt.

[LaboureSociety]

[font=georgia, serif]+[/font]

[font=georgia, serif]Dear phatmass Friends,[/font]

[font=georgia, serif]Anytime I hear about a community that has the means to assume large student loans of their new members [/font]
[font=georgia, serif](think near $100,000), I like to share that community with discerners, who may be in a similar situation. I know very little -and would welcome your comments- about this community, but they are The Marists: [url="http://www.societyofmaryusa.org/index.html"]http://www.societyofmaryusa.org/index.html[/url][/font]

[font=georgia, serif]If you have previously thought your vocation was an impossibility because of student loans, I urge you to call us and consider on of these communities! You might be just the person God is sending to infuse new blood, life, and Spirit![/font]

[font=georgia, serif]Blessings![/font]

[Yaatee]

Unbelievable!

I wonder how many other communities are able to absorb large amounts of debt and what the circumstances /requirements are?

[LaPetiteSoeur]

Wow!

I don't think many other communities could absorb that much. Actually, I don't know of any others! Good for him, though!

[Lisa]

Wow. 100,000... That's a lot.

Yaatee- For men, I think the Jesuits will assume quite a bit of educational debt, the Dominican friars will assume some (I've personally heard of them taking 20 thousand... that was just a personal anecdote, though, actually talk to someone who knows something).

Do any women's communities assume debt?

Edited July 28, 2011 by Lisa

[HopefulBride]

Lisa,

I'm not aware of any that do. I am aware of some communities that would allow the aspirant to live them while earning money either through an Apostolate of the community or through outside work.

I actually need to have a conversation with Mother about that....

[Lisa]

[quote name='HopefulBride' timestamp='1311865597' post='2277503']
Lisa,

I'm not aware of any that do. I am aware of some communities that would allow the aspirant to live them while earning money either through an Apostolate of the community or through outside work.

I actually need to have a conversation with Mother about that....
[/quote]

It's not a big concern for me, thanks be to God. I was just curious.

That would be amesome if you could make that happen! How is your debt situation going (you can send me a PM if you'd like). Would this be in case you didn't have it paid off next August, or are you hoping to live-in and work on paying off debt before then?

[HopefulBride]

[quote name='Lisa' timestamp='1311865794' post='2277505']

It's not a big concern for me, thanks be to God. I was just curious.

That would be amesome if you could make that happen! How is your debt situation going (you can send me a PM if you'd like). Would this be in case you didn't have it paid off next August, or are you hoping to live-in and work on paying off debt before then?
[/quote]

I think your box is full, it wouldn't let hit send.

[Lisa]

[quote name='HopefulBride' timestamp='1311866755' post='2277514']

I think your box is full, it wouldn't let hit send.
[/quote]

Fixed!

[Yaatee]

[quote name='Lisa' timestamp='1311861412' post='2277476']
Wow. 100,000... That's a lot.

Yaatee- For men, I think the Jesuits will assume quite a bit of educational debt, the Dominican friars will assume some (I've personally heard of them taking 20 thousand... that was just a personal anecdote, though, actually talk to someone who knows something).

Do any women's communities assume debt?
[/quote]

The well-established men's communities probably have large endowments. Deep pockets. The women's communities not so much, especially as they spend a lot of money supporting older members. Even thriving growing communities have to do this. Wrentham Trappistines, for example, which have founded several daughter communities just built a considerable assisted-living wing.

If you look at the women sister/nun obituaries, their average age is very high, substantially higher than the general women's average. Very nice, but a problem financially. I looked up a sister who died recently at age 85. She had been in assisted living/nursing home since 2001. She has had dementia for a long time. Someone has to pay for that.

[TeresaBenedicta]

I'd always wondered if this could be a solution... If one with debt were to enter, but was able to generate enough smaller benefactors to cover her monthly payments. If these folks, collectively, were able to continue payments, would the individual be able to enter?

[HopefulBride]

[quote name='TeresaBenedicta' timestamp='1311871949' post='2277560']
I'd always wondered if this could be a solution... If one with debt were to enter, but was able to generate enough smaller benefactors to cover her monthly payments. If these folks, collectively, were able to continue payments, would the individual be able to enter?
[/quote]

TB I know the DSMMEs allows someone to enter if they have a benefactor (or benefactors) who pledge to pay the loans on behalf of the students. How the paperwork is handled between the lender and benefactors I am not sure. I think my community does that also, I am not sure; another thing to discuss with them.

[quote name='Lisa' timestamp='1311869773' post='2277535']

Fixed!
[/quote]

K I just PMed you.

[Sarah147]

I looked at their website and I'm curious what they are. They don't seem like a monastery or convent.

[CatherineM]

I've always been hesitant to help pay off a loan because I have no idea if the person is a good fit with the order, and if they would be really making a long term commitment. I do like the idea of paying someone's loans for them while they are in the order. That's a bit like getting some of your loan paid off each year you teach in a low income school. I would certainly think very seriously about becoming a benefactor for a Phatmasser.

[TeresaBenedicta]

[quote name='CatherineM' timestamp='1311886367' post='2277708']
I've always been hesitant to help pay off a loan because I have no idea if the person is a good fit with the order, and if they would be really making a long term commitment. I do like the idea of paying someone's loans for them while they are in the order. That's a bit like getting some of your loan paid off each year you teach in a low income school. I would certainly think very seriously about becoming a benefactor for a Phatmasser.
[/quote]

I think that's fair. It can be quite the risk, since this is only the "next step" in discernment (although those entering look to enter for life, of course).

I wish I'd have thought more about the monthly payment option... I certainly know enough people that collectively, I think I could've managed to find benefactors for payments- perhaps even more than was the minimum. As it is, I've basically committed to one more year of work while living with the sisters. And since I'll have absolutely no living expenses, I am almost certain to have everything paid off in that year's time.

[faithcecelia]

Q gave me a generous donation towards my debt to help me pay off faster (it was around a fifth of the total) and after I had been there a year there was some confusion over one that the company claimed was still owed. I was very worried buy when I told my NM she said just to forward the paperwork to the bursar to sort it out. As it happened, there wasn't anything owed.

The woman who entered after me was able to enter in debt and the community absorbed it.

[CatherineM]

[quote name='TeresaBenedicta' timestamp='1311889473' post='2277752']

I think that's fair. It can be quite the risk, since this is only the "next step" in discernment (although those entering look to enter for life, of course).

I wish I'd have thought more about the monthly payment option... I certainly know enough people that collectively, I think I could've managed to find benefactors for payments- perhaps even more than was the minimum. As it is, I've basically committed to one more year of work while living with the sisters. And since I'll have absolutely no living expenses, I am almost certain to have everything paid off in that year's time.
[/quote]
In the long run, you will probably also feel better about your discernment. Having your loans paid off might make you feel like you have an obligation to stay. That's no way to handle a vocation.

[HopefulBride]

[quote name='CatherineM' timestamp='1311894837' post='2277792']
In the long run, you will probably also feel better about your discernment. Having your loans paid off might make you feel like you have an obligation to stay. That's no way to handle a vocation.
[/quote]

That is one of the reasons why the MEFV does the loan payment monthly rather than all at once. They don't want any discerner to feel obligated. If the person were to "discern out" then they can pick up and take over their loan payoff. I also prefer that option because the idea of my debt being paid off so that I could enter would weigh on me and I would feel a bit obligated to stay. It gets in the way of discernment.

[maximillion]

Does anyone know of a way of assisting someone who wants to enter? I mean other than through the Labore set up?

[Lisa]

[quote name='maximillion' timestamp='1311952100' post='2278095']
Does anyone know of a way of assisting someone who wants to enter? I mean other than through the Labore set up?
[/quote]

The other popular way to go about it is to apply to is the Mater Ecclesiae Fund for Vocations. http://fundforvocations.org/ But just as a warning/description: they have many more people apply than they can give grants to (Thanks be to God that young people are responding to His call).

You can also always fundraise on your own.