Navigating Student Loan Forgiveness through Financial Counseling

The Rev. Damien J. Lake, Associate Conference Minister for the Missouri Mid-South Conference, shares his journey and experiences using LSS Financial Choice through the Pension Boards to navigate the Public Student Loan Forgiveness Program process. 

The Weight of Student Loan Debt

When I first heard about the Public Service Loan Forgiveness (PSLF) Program, I knew it could be life-changing—but navigating the system felt overwhelming. I was trying to figure out how I could possibly continue to deal with this debt. I was aware of the PSLF Program while I was trying to navigate this on my own, and I was struggling. Like many clergy, I had spent years serving faithfully while carrying the weight of student debt. I thought I was following the right steps, but as time passed, I realized something wasn’t adding up. Friends and colleagues were celebrating loan forgiveness, and I was still stuck wondering what I had missed.

The Turning Point

The breakthrough came during a conversation at General Synod 35 with representatives from the Pension Boards. They mentioned that they offer no-cost financial counseling through LSS Financial Choice, and that someone could guide me through the PSLF process. Until that moment, I didn’t even know such support existed. That single conversation opened the door I had been searching for.

Working with a Financial Counselor

I scheduled a session with a counselor during the first week of my sabbatical. Honestly, I didn’t know what to expect. What surprised me most was her approach: she wasn’t just focused on numbers and solving my problem—she wanted to hear my story. She wanted to get to know me. She was caring and gentle. That care and compassion made all the difference.

In one hour, she walked me through the right links, explained the PSLF process clearly, and gave me confidence that I could finally move forward. It was a really positive experience. I felt like she actually cared about me and wasn’t just looking at me like a number—or another person to call to check off her list. She was extremely knowledgeable. And it only took one initial session, plus a few follow-up emails, to get this first step in the PSLF process started.

Because I was on sabbatical, I was able to put in the time and enter all the churches that I had served in the last 13 years into the system. Today, I’m in the final stages of the forgiveness process. There have been a few snags—like verifying EIN numbers for churches I served years ago—but I’m getting closer to financial relief. When those loans are forgiven, it will free up approximately $500 a month—money I can redirect towards rebuilding my retirement savings, which was impacted by my divorce. I also utilized FreeWill, a super easy and free tool to create a legal will so that my children get what they need for their future. I’m on the right track, financially.

Ask for Help

For clergy, financial stress can feel isolating. We’re called to care for others, yet often neglect our own wellbeing. My experience reminded me that seeking help isn’t weakness—it’s wisdom. I would absolutely recommend financial counseling to other ministers. It’s not just about solving a problem; it’s about finding someone who listens, understands, and equips you with tools for greater financial stability.