I’m Studying to be an Episcopal Priest But Have Student Loans and Credit Card Debt. – Adrienne

“Dear Steve,

I’m a graduate student finishing up my Masters and working toward a PhD. I aspire to be a professor of Ancient Hebrew/Bible and an episcopal priest within the next 10 years.

I will have $100,000 in student loans by the end of my master’s degree program next May, and currently have $30,000 in credit card debt. I would like to find a loan that will cover student credit card debt while i’m finishing up my degrees. My monthly payment on the credit cards is $700.

I live on student loans that and whatever money i can get from work-study programs and odd jobs, and have just barely made my bills. But i don’t have enough in my checking and savings to make it work anymore. Do you have any advice for me?


Dear Adrienne,

Lots of people are praying for a solution in situations similar to yours. It sounds like you might have a leg up though.

Seriously, the only legit loan I am aware of would be a unsecured fixed rate debt consolidation loan from LendingClub.com. LendingClub is a peer-to-peer network where people lend to others, cutting the banks out of the loop. In fact I help people myself through LendingClub.com. The downside is that the limit on these loans is $25,000 and you will need a credit score above 660 to even get in the door.

Good luck on those student loans. My understanding is that the salary for an Episcopal priest is around $40,000 plus a housing allowance or provided housing. That should be enough to start paying on those student loans as soon as possible. Don’t defer them if possible. The interest that builds is a killer.


You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.

Damon Day - Pro Debt Coach

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