One-third of the 1991 graduates brought some from their undergraduate years. Undergraduate debt displayed by percentiles is shown in Table 3. 1,867 Undergraduate debt carried over into theological school was modest and not as widespread as often supposed. Reported Total Educational Indebtedness by Percentile. In summary, the general picture in theological schools is a mixed one.
Borrowing is widespread but far from universal.
It cannot be characterized as extensive among all graduates. A slim majority of Master of Divinity students avoid taking loans for theological school, and just under half graduate without any formal educational debt. Thus it can be said that theological debt, though more prevalent than it used to be, is not the extensive problem some believe. At the same time, however, a minority of graduates carries a burdensome level of outstanding loans.