How to Get Rid of Your Student Loans by Joining AmeriCorps

Joining AmeriCorps could be a great alternative for people who want to volunteer and yet aren't quite up to joining the Peace Corps for two years. AmeriCorps requires just a one-year committment, and will give you $4725 at the end of your service to help pay off your student loans. Plus, your loans will be deferred during your service, which is a good thing because as a volunteer, you won't be making any money above what's needed to survive.

Instructions

1. Check out the available jobs on AmeriCorps.gov. You will see that there are countless ways you will be able to serve people, especially those in impoverished areas. You can volunteer to help with the victims of Hurrican Katrina, become a teacher in a low-income school, work on environmental projects or in community development.

2. There are three AmericaCorps programs -- AmeriCorps State and National, AmeriCorps VISTA and AmeriCorps NCCC. Each has different eligibility requirements based on age and location. AmeriCorps NCCC is only open to those between 18 and 24, but VISTA is open to anyone over 18, and the State and National program is open to those 17 and older.

3. Prepare to have hardships during this program. Volunteers are paid a small stipend for living expenses, and often share dorm rooms with other volunteers. On the upside, you get valuable training, job experience, student loan deferment, as well as the knowledge that you're contributing to a better world.

Resources

• AmeriCorps
• How to Get Out of Repaying Your Student Loans