A New Way to Pay off Student Loan Debt

Volunteering for a noble cause is one the best thing you can give back to the community. There is no greater feeling of taking the time to help give back to those who are in need of help. What if you could help a noble charity and pay off your student loans at the same time? This is an actual possibility now as there are programs that exist that reward charity-minded individuals and pay off their vast student loans at the same time.

Student loans are a major problem for people. Student loan debt now averages almost $30,000 a year for graduating seniors. It has become a major burden on young adults that are just starting out. Having this major debt can impede a person’s ability to buy a house or even accomplish major milestones such as getting married or having children. In short, crushing student loan debt combined with a weak job market is keeping a lot of individuals on the sidelines of being truly independent adults. This has really made an impact on the economy and the worldwide financial bottom line.

The premise of doing volunteer work in exchange for credit on your student loans is really quite easy. You would first sign up at an organization such as SponsorChange which connect users to non-profit organizations in your area that are participating. Eligible individuals would then perform the volunteer service and get help with the payment of their student loans by sponsors or donors who are interested in helping. Non-profit organizations are also free to post projects that are in need of volunteers after they have been approved by the site. The basic goal is to help those that are struggling with their student loan payments and still want to help others in their community at the same time.

One of the few drawbacks to services such as these is that they are not available in all locations but fear not. A lot of these organizations are located among big cities more populated areas of the country. So what is a small town boy or girl with heinous loan debt to do? The advent of “virtual volunteering” is well on it way of being developed. Charitable organizations need help that does not always need to be done at a physical location. Things such as raising awareness through social media  or helping to build company websites can all be done from afar. It is not widely available, but it will open the door for others wanting to contribute who live in more remote areas.

Student debt does not have to be the drag that holds you down for the rest of your life. Besides budgeting and frugally living, there is more that one way to pay off student loan debt. Sometimes thinking outside the box can be very advantageous to your wallet and bottom line. Now it is possible to help out a great cause and even pay down loan debt at the same time. It’s a great time to be alive for sure while paying off your education and supporting worthy causes at the same time. It’s a great option to check out if you are actively paying off student loan debt.

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