Besides the Annual Fund, the General Unrestricted Endowment provides the most income for the day-to-day operations of the seminary. By spending a small portion of this large endowment, LSTC ensures that the fund continues to grow as it accumulates interest. As the fund grows, so does the amount LSTC may spend annually. You may also choose to restrict your gift to the endowment for scholarships, fellowships, or specific faculty chairs.
Thanks to the support of individuals, congregations, synods and the ELCA, LSTC is able to keep tuition low, under $13,000 a year. But for students carrying debt from their undergraduate studies or for second career applicants who will leave a job to pursue their call, paying for seminary education can be a challenge. Endowed scholarships help students meet the cost of tuition, books, and living expenses.
LSTC’s goal is to have enough endowed scholarships to guarantee that no graduate will pay more than 10% of his or her salary to pay off loans incurred during seminary. Your gift for endowed scholarships will help students graduate from LSTC with little or no debt.
Current Endowed Initiatives
Whether students are learning in the classroom or online, knowledgeable, engaging faculty are at the heart of LSTC’s ministry. To ensure LSTC’s continuing academic excellence by being able to call the best teachers available in the basic areas of seminary instruction, LSTC seeks to endow every faculty position.
The Herbert W. Chilstrom Chair in New Testament
At LSTC, New Testament faculty guide their students to a deeper understanding of the Scriptures in ways that keep Christ at the center. Through a permanently endowed faculty chair, LSTC will continue to attract and retain the very best faculty for teaching the New Testament to future generations of church leaders and teachers.
This chair will honor alumnus Herbert W. Chilstrom (Augustana Seminary, 1958), one of the significant Lutheran leaders of the 20th century.
The Philip Hefner Chair in Religion and Science, Systematic Theology
Named for the distinguished theologian who taught at LSTC from 1967-2001 and served as founding director of the Zygon Center for Religion and Science from 1988-2003, the Philip Hefner Chair in Religion and Science, Systematic Theology will make permanent LSTC’s long-term commitment to education and leadership in this area.
The Mark Bangert Fund for the Cantor to the Seminary Community
The gifts of a talented musician are vital to the worship life at LSTC. The Mark Bangert Fund for the Cantor to the Seminary Community will establish an endowment to permanently fund the position and honor the faithfulness and commitment of an accomplished musician, worship leader, professor and music historian.