RESOLUTION 6-05
Report R1.2 (CW, p. 42); Overture 7-19 (CW, pp. 373–74); President’s Report, Part 2 (TB, pp. 21–31)
WHEREAS, The seminaries in St. Louis and Ft. Wayne currently participate in the Title IV Federal Student Financial Aid Program, which consists primarily of loan programs, with grant programs limited to the Federal Work Study Program; and
WHEREAS, It is preferable that the seminaries not receive funding from the federal government for student loans; and
WHEREAS, At least two synodwide corporate entities, the Lutheran Church Extension Fund (LCEF) and the Lutheran Federal Credit Union (LFCU) provide loans to church workers; and
WHEREAS, LCEF and LFCU understand and appreciate the unique financial situations of church workers and can provide appropriate loan counseling; and
WHEREAS, Another synodwide entity, Concordia Plan Services (CPS), provides excellent leadership by recognizing students at the seminaries as pre-church workers, covering them under the Concordia Health Plan; and
WHEREAS, It is in the best interest of the synodwide entities and the Synod’s church workers to establish beneficial relationships at an early stage; therefore be it
Resolved, That the administrations of the seminaries, LCEF, and LFCU gather sufficient information and meet to determine the feasibility of privatizing student lending at the seminaries; and be it further
Resolved, That the preferred lender for student loans at the seminaries be a synodwide corporate entity; and be it finally
Resolved, That if this group identifies a reasonable alternative and lenders are willing to participate, the seminaries be encouraged to withdraw from the Title IV Student Financial Aid Progra