Cash And Student Loan Forgiveness: The Perfect First Job

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College costs are not getting any cheaper, and this just adds to the mounting debt that many college graduates (and drop-outs) are facing. Adding to the problem is the growing number of highly-qualified college graduates unable to secure a job. If you are having trouble repaying a student loan, read on. There are many programs available to help you repay, or even forgive, your student loan. 

Volunteerism

It may not be what you envisioned when you were in law school, but joining a volunteer organization can help you repay your student loans. These programs provide a certain amount of money to repay your student loan, and in some cases a stipend, for each year that you volunteer with the organization. Here are some options:

  • AmeriCorps
    What it is: AmeriCorps is an organization with members that address critical needs in communities within the United States. As a volunteer, you might mentor disadvantaged youth, improve health services, teach computer skills or help communities respond to disasters.

    Benefits of Service: 
    Full-time members who complete 12 months of service earn an award of $4,725 to pay for college, graduate school or to pay back qualified student loans. Some members may also receive a stipend of up to $7,400 for living expenses during the term of service.

    More Information: 
    http://www.americorps.gov/

Read more here at Investopedia.com.

Last Updated: May 2, 2013
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