Emory University's Candler School of Theology has received a $250,000 grant from Lilly Endowment Inc. to develop a model curriculum for improving the financial literacy of its students.
"We're thrilled to partner with Lilly Endowment to help our students learn to navigate the ever-changing financial landscape,"says Jan Love, dean of Candler.
"Candler wants to prepare the next generation of clergy to make wise financial decisions that will alleviate debt, strengthen their administrative and fiscal leadership, and support ministries in the local church and beyond,"she explains. "This grant allows us to make great strides in that."
Grant to assist in examining financial literacy issuesLilly Endowment awarded the grant as part of its Theological School Initiative to Address Economic Challenges Facing Future Ministers, which is designed to assist theology schools in examining financial literacy issues in order to improve the economic well being of future pastoral leaders. Candler is one of 16 schools to participate in the program.
The grant will fund a three-year required curriculum for Candler's master of divinity degree students that focuses on:
- personal financial literacy,
- financial administration in ecclesial settings, and
- financial management for ministerial professionals.
Training in personal financial planning and debt management will be included in Candler's advising groups for first- and third-year students. Second-year students will learn to handle finances in ministerial settings through the school's field-based Contextual Education Program. In each year of study, students will meet with a financial advisor to tailor a financial plan based on their individual goals, resources and responsibilities.
Based in part on success of Candler Advantage
Set to begin in the fall of 2013, the new curriculum is based in part on the success of Candler Advantage, a program the school created in 2009 after studying the problem of student debt. A competitive internship program, Candler Advantage provides stipends, professional development opportunities and financial counseling.