mcguire holds a bachelor of arts from lee university, master of arts from assemblies of god theological seminary, and honorary doctorate of divinity degree from east coast bible college. in 1994, he was selected as lee university's distinguished alumnus of the year. as a student at lee, he was elected student body president for the 1965-66 school year and was one of the early members of upsilon xi. he was honored in 1998 as upsilon xi's alumnus of the year.