Loan Forgiveness – Volunteer Work
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Do you need to apply for a student loan to pursue your college degree?
Forgiveness is seldom a word you associate with financial loans. But knowing the possibilities out there could help you shave thousands of dollars off that student loan debt when you become a volunteer. Volunteering to help others is not easy work, but it is surely rewarding and often times noble. Why not give back to the world? May it be assisting people facing hardships in a foreign land or aiding children to gain food shelter, education or medicine, it’s one effort you’ll be happy you checked into.
These volunteer organizations offer loan forgiveness:
AmeriCorps. Serve for 12 months and receive up to $7400 in stipends plus $4725 to be used towards your loan. Call 1-800-942-2677.
Peace Corps. Volunteers may apply for deferment of Stafford, Perkins and Consolidation loans and partial cancellation of Perkins Loans (15% for each year of service, up to 70% in total). Volunteers make a real difference in the lives of real people with two years of service in more than 70 developing countries. Contact the Peace Corps at 1111 20th St., NW, Washington, DC 20526 or call 1-800-424-8580 or 1-202-692-1845.
Volunteers in Service to America (VISTA). Volunteer with private, non-profit groups that help eradicate hunger, homelessness, poverty and illiteracy. Provide 1700 hours of service and receive $4725. Call 1-800-942-2677 or 1-202-606-5000.
Data: 2011-2012
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