Next Generation Grant

The Next Generation Grant is a ministerial incentive program designed to attract and retain outstanding ministers in the Assemblies of God. Under the provisions of the Next Generation Grant, the AG Trust will use monies to help with the retirement of educational debt incurred. The office of The Alliance for AG Higher Education will award up to $24,000 to each recipient selected to be distributed over a specified period of time to the recipient’s approved lending agencies. Monies will be awarded to graduates (beginning spring 2007) of AG endorsed schools who are making a commitment to credentialed AG ministry.

Under the provisions of the Next Generation Grant, the AG Trust may assume payments of up to $400 per month for up to five (5) years in outstanding educational loans in return for five (5) consecutive years of full-time ministerial service as an AG credentialed minister in an approved Assemblies of God ministry.
Participants who serve in a District affiliated church or in church planting may receive up to $100 of additional loan assumption per month each year for up to five (5) years.

Selected participants must sign a Next Generation Agreement (NGA). The NGA stipulates that the AG Trust will authorize loan assumption payments if the participant provides five (5) consecutive years of ministerial service. Next Generation grant payments begin upon proof of full-time ministerial service. The AG Trust will make monthly payments directly to the lending institution(s) after all ministerial service and loan information is verified. Based upon loan balances, the AG Trust will authorize NGG payments each year up to $400 per month or up to $500 per month if the recipient is serving in a District affiliated church or in church planting.

Note: NGG participants must continue to meet their scheduled payments on all student loans throughout their participation in the NGG program.

• Eligibility Criteria
• Be a U.S. citizen or eligible non-citizen
• Have completed a baccalaureate or graduate degree in an approved program of professional ministerial preparation from one of the endorsed Assemblies of God colleges or universities no earlier than May 2007
• Have received an educational loan to meet the costs associated with obtaining a baccalaureate or graduate degree through one or more of the following programs: Federal Family Educational Loan program, Federal Direct Student Loan Program, Federal Perkins Loan, or privately funded institutional educational loan – the loan outstanding must have been received for debt responsibly incurred
  
• Be in good standing with any repayment of any state or federally funded educational grants and state or federally insured educational loans
• Be in good standing with all financial commitments to the District and to the General Council
• Be an active participant in District events and activities

Download application (pdf)