1. Spiritual Growth: Engaging with the Bible through study helps Catholics deepen their relationship with God. It provides an opportunity for personal prayer, reflection, and spiritual growth by exploring the teachings, parables, and life of Jesus as well as the connections to the Old Testament.

2. Understanding Doctrine: The Catholic Church teaches that Scripture is the inspired Word of God and is central to its doctrines. Studying the Bible helps believers understand the Church's teachings, the sacraments, and moral directives more profoundly. It connects the dots between biblical texts and Church tradition, which together, form the basis of Catholic faith.

3. Community and Fellowship: OLT Bible Study occurs in a group setting, fostering a sense of community while providing opportunities for sharing, insights, asking questions, and supporting one another in faith. This communal aspect strengthens one's faith through shared understanding and discussion. 

4. Formation of Conscience: The Bible offers moral guidance which is crucial for forming one's conscience according to Catholic moral teachings. Through study, individuals can discern right from wrong in light of biblical wisdom and apply these principles to contempory issues. 

5. Liturgical Participation: For Catholics, the Mass is central to spiritual life, and it is filled with scriptural references. Understanding the Bible enhances one's participation in the liturgy, making the experience of Mass more meaningful as one can appreciate the scriptural context of prayers, readings, and hymns. 

6. Historical and Cultural Context: Studying the Bible also involves learning about the historical, cultural, and literary contexts of the texts, which can enrich one's understanding of how the faith has evolved and how it can be lived out today. This includes understanding the Church's history, the role of saints, and the development of doctrine over time.

7. Apologetics: In an increasingly secular world, understanding the Bible equips Catholics to explain and defend their faith. Knowledge of Scripture can be instrumental in dialogues about faith, whether with those of other Christian denominations, other religions, or non-believers. 

8. Personal Transformation: The Bible contains teachings on love, forgiveness, justice, and peace, which are transformative when internalized. Through study, we are moved to change personal behavior, attitudes, and lifestyle in alignment with Christian virtues.

9. Encouragement and Comfort: The narratives, psalms, and letters in the Bible provide comfort, encouragement, and hope during personal trials. Bible study can be a source of solace and strength, reminding believers of God's presence and promises.