Board Approves Plan to Leave Federal Student Loan Program

The Bethany Theological Seminary Board of Trustees gave approval to a plan for the institution to leave federal student loan program, known as Title IV, during its Fall meeting, September 18-20, 2026, at the Seminary’s Richmond, Indiana campus.

The decision to leave Title IV, the program that allows students to take out Federal student loans, follows five semesters in which not a single Bethany student has borrowed money through the program.

“This decision marks an important milestone in the history of the Seminary,” notes President Jeff Carter. “For several years, Bethany has been focused on making the education we offer affordable and accessible to any qualified student who is answering a call from God to ministry and service. A key element of those efforts is providing students with a pathway to complete their education without taking on additional debt. I am grateful that our Trustees, like our students, have embraced this vision.”

The decision to leave the Title IV program sets in motion a process that will conclude later in this academic year. It follows the announcement last summer of a new scholarship that covers all tuition costs for students who are members of the Church of the Brethren, and removes the financial barriers from the path of those from the denomination who are seeking a graduate theological education and pursuing careers in ministry.

During the meeting, Trustees also engaged in discussions of the Seminary’s residential program and strategic plan. The Board also agreed to designate money raised in this year’s annual fundraising campaign to the 2:1 match provided by the Lilly Endowment Inc. The gathering also included time for worship, fellowship, and an opportunity to attend a concert by the Richmond Symphony Orchestra which the Seminary sponsored. Trustees also interacted with Nigerian student Lisa Moses as well as Dr. Dan Ulrich, Wieand professor of New Testament studies, who plans to retire from the Bethany faculty at the end of the current academic year.

The Bethany trustees will gather for their next meeting in March.

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