What Agencies Will Pay My School Loans?

Getting a college degree doesn't assure a high-paying career that will enable you to pay down your student loans easily. If your income doesn't allow you to pay off your student loans, the right career choice or volunteer opportunity will. Some government agencies are willing to help students pay student loans in exchange for service.

Volunteering For Debt Forgiveness

The government has put together a program called Volunteering Loan Forgiveness, where they forgive some of your debt for volunteering with a qualified organization. Devote a year of service to Americorps and you'll get $4,725 worth of your college-debt forgiven, and even a stipend for $7,400. Travel with the Peace Corps, and your loans are deferred while you serve. Afterward up to 70 percent of your loans can be reduced. Volunteers in Service to America, which is all about community development and ending poverty, homelessness, and illiteracy across the nation, will pay $4,725 if you serve at least 1,700 hours. Join the Army Reserve or National Guard after graduation, and you can receive up to $10,000 to pay off your loans. If you serve in areas of foreign conflict you'll receive even more.

Teaching the Less Fortunate

Teach for America offers total student loan forgiveness to serve in less-fortunate neighborhoods.

Agree to teach under the right conditions and all of your student-loan debt will soon disappear. One way is to teach special education, a position that is almost always in demand. Schools in low-income neighborhoods are in need of teachers too, as are other specially designated areas. Both of which will qualify you for debt forgiveness through the National Defense Education Act. Contact Teach for America to know more.

Work in a Service Organization

Police Officers, and other who work in service organizations, can qualify for student loan forgiveness.

Full-time providers of early intervention services for the disabled can have their loans completely forgiven. Also, employees of an agency that provides services to families of low-income communities, full-time nurses, medical technicians, corrections officers and full-time law enforcement officers can also have their student loans completely absolved. Restrictions often involve the date your loan was made.

National Health Service Corps.

Health professionals can serve for up to $25,000 per year.

This branch of the U.S. Health and Human Services offers up to $25,000 per year, up to four years, for health professionals to work in under-served communities. This includes students who are still in training.