The reality of student life is that, at some point, everyone incurs debts due to loans made to finance university education. It is a price every student pays so long as one is able to finish college and eventually finds a good-paying job after. However, landing in one usually is not that easy. Employment these days has been quite tough given the fluctuating economy, which also does not offer that much help to new graduates looking to pay off their debts with their would-be salaries. Some courses are also more inclined towards the public service, which is pays less in comparison to corporate jobs. This is the reason why a lot of graduates usually have to deal with thousands of dollars worth in school loans and are burdened even after years of graduating from college.
However, certain schools have taken the initiative to implement forgiveness programs aimed at cancelling the remaining debts of students as long as they are qualified and can fulfill the necessary counterpart expected from them. These universities will reconsider so long as one is also willing to serve publicly and dedicate a portion of his time to social causes and become a part of volunteer organizations.
They make considerations for these socially driven individuals who would rather spend their time and energy immersing themselves in public service works rather than be part of high profit careers. School loan forgiveness programs are focused on repaying debts of students. In turn, they serve in an organization of their choice. Their 'earnings' will serve as repayment of their debts. The following are some of the organizations that offer school loan forgiveness programs: AmeriCorps, Peace Corps, the Military, legal, medical and teaching professions.
AmeriCorps offers one-year's worth of salary and additional financial award at the end of the commitment of the student. The same thing happens in the Peace Corps where volunteers are given stipends, which they can save too. On top of this, they will also be awarded money upon completion of their contract.
The money gotten out of these volunteer organizations can either go to the personal savings of the individual or go into the payment of existing debts incurred during college. For the legal profession, as long as the individual goes into public service posts or non-profit organizations, he or she can qualify for these school loan forgiveness programs. The rationale behind this is that people in these careers often do not earn much. It also becomes a way to inspire people to work in public service areas to help out less fortunate citizens avail of social services as well. Students who want to avail of this must consult their universities and apply for possible posts at organizations that offer loan forgiveness. The right attitude and dedication, plus having a heart for service, can surely pave the way to a school debt-free life.
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