Calvin Theological Seminary recently received its largest single gift ever—more than $2 million—and it’s all going to students.
The gift from Sid Jansma Jr. and his late wife, Joanne, significantly boosts the funds available in the Ministry Incentive Program (MIP), a seminary loan program specifically geared to students going into ordained ministry in the CRC. Students who serve as ordained ministers in the CRC for at least 10 years are forgiven 50 percent of their loans.
In recent years the largest source of MIP funds has been special offerings of congregations. These offerings, together with other donations, have made MIP loans an important part of the seminary’s financial aid package.
The gift enables the seminary to significantly increase the amount of MIP loans for students, says Duane Kelderman, vice president for administration. “Over the life of this gift alone, CTS students will receive more than $10 million in loans at a very attractive interest rate and with a great forgiveness provision. We couldn’t be happier for our students.”