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Organizations that offer student loan forgiveness opportunities recruit recent college graduates to perform certain types of work, based on open positions at any given point in time. Each program has different hiring needs, and the amount of loan forgiveness individuals may qualify for varies from one program to another. Examples of organizations that offer student loan forgiveness programs include AmeriCorps, Teach for America, the National Health Service Corps, along with many others.
AmeriCorps, for example, recruits recent young people from a variety of backgrounds to commit to a year of community service through one of the organization's programs. Participants receive a modest living allowance during their term of service, and receive up to $4,725 to apply to student loan debt for each year of full-time service.
Teachers who participate in the Teach for America program have an opportunity to earn an equivalent amount of funding for student loan forgiveness for each year they work in a qualified teaching position in certain inner city school systems or schools located in remote, outlying areas. Additionally, many states offer their own student loan forgiveness programs as a tool for recruiting skilled teachers for high demand subjects such as math and science.
