There is a tension between the virtues of Prudence and Faith. This tension is of particular interest to you if you apply for a grant from the MEFV and then enter your order before you know the outcome of your grant application.
The following facts are of interest:
- We currently turn down half of all applicants to the MEFV.
- If you have been turned down, your chances of success at reapplication are very poor if you have not lowered your loan payments by pre-paying (see this answer in our FAQ) or at least lowered your outstanding balance.
- We forbid reapplication if you are no longer making a good faith effort at loan repayment.
For almost everyone, entering religious life means no longer having an income. This is proper. The goal of aspirancy, postulancy, and the novitiate is to test your vocation and be formed in religion, not making money. It is also very difficult to do fundraising while in formation and it may even be detrimental to proper formation.
With regard to your student loans, the practical result of entering religious life is that you will not be able to make payments and your balance will rise from accruing interest. Therefore, should you be a member of the unfortunate half of our applicants that get turned down, you will not be able to reapply to the MEFV.
Faith says that God has called you to life in religion. Faith has confirmed this call in more than one way and you are eager follow the will of God. We rejoice with you and thank you for your generosity in responding. Faith also makes it clear that God will find a way to get you into religious life in spite of your student loans.
Prudence councils patience and a calm assessment of how best to achieve the life to which you are called.
We cannot judge where the intersection of Faith and Prudence lies for you personally. That you must work out in prayer with the assistance of your vocation director.
However, we want you to understand that if you apply, enter religious life, and are then turned down for a grant, you will probably not be allowed to reapply. This is one of the meanings of first certification statement on the application form just above your signature: If I do not receive a grant, I will be eligible to re-apply only if I have made a good-faith effort to reduce my debts.