Seminary to Purchase 100,000 Volumes from Seabury-Western Holdings
EVANSTON, Ill - In response to the nation's unprecedented financial difficulties, Garrett-Evangelical Theological Seminary is offering a one-time $500 tuition grant for all returning and new full-time students enrolling in the 2009-2010 academic year. The seminary also will maintain the current levels of overall scholarship support.
President Philip A. Amerson announced these financial commitments to students in a letter recently distributed to the seminary community.
"Even in the face of significant reductions from our endowment income support, we affirm that our top priority for the future is maintaining support for our students," he wrote.
He also announced in the letter that Seabury-Western Theological Seminary has accepted Garrett-Evangelical's offer to purchase Seabury's library holdings of approximately 100,000 volumes. The acquisition preserves the United Library as one of the nation's top theological collections.
Amerson said Garrett-Evangelical will proceed with initiatives outlined in the strategic plan despite a projected loss of more than $1 million in endowment income by the fall of 2010, requiring reductions in the operating budget.
"We will need to delay some plans and reduce the size of programs and staff," he wrote. "Still, while we may move more slowly, we will move ahead on matters outlined in the strategic plan."