There's a certain aura to the academic life. An image that comes to mind is of a person absorbed in knowledge, flipping through books and data in an effort to find the answer to the most intriguing questions. (Bonus points if your mental image places the person in an ancient Library somewhere.) However, the relative glam and prestige of having an academic career, let alone getting a PhD, is somewhat dimmed once you understand the financial side of things. And while getting funds, grants, and scholarships for the more STEM-oriented fields can be a real pain, funding research and academic endeavors in the humanities is even harder. This is why a fully funded PhD in theology is such a gem.
A fully funded program will ease the financial burden such an effort usually entails and allow the student to focus on their studies with no financial stress and distractions. Depending on the program, it will cover tuition and a stipend for living expenses. The institutions that will offer such programs are usually well-established, prestigious, and possess nice, deep pockets. That kind of luxury allows them to fund fields off the beaten path and develop research that could lead to careers in both academics and religious services.
The right school will provide a PhD theology student with the tools, connections, and adequate staff to make sure that their needs are met, but it will also require the student to make an effort. They will need to use all of those resources, attend courses and discussions, and make significant contributions to their field and relevant research. These efforts will eventually translate to theological development in both the academic and professional worlds.
Taking part in a fully funded PhD program does more than allowing you to write a dissertation. It also usually means you'll get to interact with key figures in the field in various capacities. This is how you start networking and build your academic and professional crowd and support system. Take advantage of all the workshops and seminars you possibly can in order to milk the best opportunities out there. The best part is that high learning institutions as well as the theological community tend to stay connected regardless of where they are in the world. This means you can both collaborate and make an impact internationally with very little effort. Nothing like global connections to create a lively, productive dialogue.
Now, let's not forget the academic field we're talking about is actually deeply spiritual. It involves a great deal of philosophy, morals, and culture in ways that shape how people conduct themselves in this world. Having access to a fully funded PhD program means you get to dive in spiritually to death that only very few people get to experience. The opportunity for personal and spiritual growth is priceless.