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There must be some better way to attack student loan debt, right? Well, how about something novel? The Teach for America program through the AmeriCorps service gives you money to apply to student loan debt in exchange for your time.

If you get in to the AmeriCorps program, you will be sent to a rural or urban location where you will teach. In exchange, you get automatic forbearance on your loans and additional money to be applied to their repayment.

The specific situation is easily amended, but the latest figures show a nice bonus. If you are new to the program, you can receive an award of nearly $4,800 at the end of each year to apply to your loans. That means roughly $10,000 paid towards your debt for the two years of service.

Teach for America hopes to end educational inequality through placing qualified graduates within certain education systems. In addition to recent graduates, this program also includes highly trained professionals from all types of academic backgrounds. Do you qualify for this program?

With a name like Teachers for America, this program must obviously only be for teachers, right? Nope. Just recent college graduates. It does not matter if you have any teaching qualifications or not. You will be taught those before being sent to your destination.

Many candidates are often placed in Atlanta, Baltimore, Chicago, Houston, Los Angeles, New Jersey, New York City, Phoenix, and many more cities that are in need of good teachers. Even if you have no previous education training, you can still help to impact many young lives.

The Teach for America program is one of those efforts that actually makes the government seem competent at times. It gives you the advantage of paying off your loans faster while giving areas in need a source of education and inspiration.

The biggest complaint of most college graduates is they feel like they are no longer making a difference. Well, Teach for America gives you a chance to avoid that issue and pay down your student loan debt. How could you possible resist?

This entry was posted on Sunday, September 21st, 2008 at 11:24 am and is filed under Finance.You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.