An Unusual Strategy For Repaying Student Loans
If you are a recent, qualified, graduate, you may be able to sign up for the Teach for American program, and receive a monetary award that can be put towards your current student loans. This program is part of the AmeriCorps service network that helps to connect graduates with underprivileged students.
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 Teach for America program works on a bonus situation. Basically, you get a monetary award at the end of each year of the two year commitment. Currently, that award is a total of roughly $9,600 to be applied to your loans.
The goal of the program is to create a win-win situation. It puts highly educated individuals where they are needed and gives needy communities a step up in the teaching arena. The biggest issue for most potential applicants are their qualifications.
Surprisingly, Teach for America is not interested solely in those with an education background. This program seeks recent graduates from all types of disciplines. If you are accepted into the program, you will be placed in various cities and states depending upon where you are needed the most.
Currently, the trend is to place applicants in urban areas of need. These range from cities like Baltimore in the east to Los Angeles in the west. There are, in truth, cities in need of teachers across the nation, so you could end up anywhere.
This opportunity is a great idea for anyone wishing to lower their student loan debt. In addition to helping out those in need, this program will help to lower those monthly loan payments. Every way you look at it, Teach for America is a great idea. All it takes is one great teacher to change hundreds of lives.
If this program sounds appealing to you, head to the Teach for America site to apply. Once you are placed within a specific region, you will start to earn money towards those loans, gain a decent salary, and begin impacting the future of America through your good works.
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