Get Out of Debt Using “Loan Forgiveness” Programs

Dear Billy and Akaisha –

Re: Your reader Chris’ comments about your overseas lifestyle, and questions about getting out of debt, particularly student loans, I’d like to offer a suggestion – or maybe a couple – in additon to your very valid suggestion of  working a second job:

There are any number of “loan forgiveness” programs, some in the U.S. and some with overseas opportunities.

Here are a few:

  • Americorps. If you’re willing to devote a year of your life to volunteering for Americorps, you’ll be rewarded with $4,725 to spend on your college debts, and a stipend of up to $7,400. That doesn’t sound much like volunteering to us, but hey, we didn’t write the dictionary. For more information, visit the Americorps website or call them at (800) 942-2677.
  • Peace Corps. Go traveling with the Peace Corps and you’ll get to defer most of your student loans until after you leave the program. Not only that, but you may even get some of your loans reduced (maybe as much as 70%, if you’re lucky!). Call (800) 424-8580 for more details.
  • VISTA (Volunteers in Service to America). VISTA, which is all about community development and ending poverty, homelessness, and illiteracy in the United States, will pay off $4,725 of your loans if you join in on their cause for at least 1,700 hours. Call (800) 942-2677.

There are programs for Law school loan  forgiveness, Med School loan forgiveness, Occupational or physical therapy education loan forgiveness…  Lots of opportunities, if one is willing to WORK! and do a little research!

We’ve been living and working overseas, on and off, for years (Tim’s been in 60+ countries, I’ve been in about 20. We are currently in Armenia for another 3 or 4 moths, and spent 3 years in Odessa, Ukraine. We keep trying to “retire” but getting paid to live and do work we love in an “exotic” and different locations is hard to pass up. We may be in Moldova or perhaps the Far East next!)

Elizabeth and Tim K. (U.S.A.)

Your Retirement Dream IS Possible, Click here

About Retire Early Lifestyle

Billy and Akaisha Kaderli retired two decades ago at the age of 38 and began traveling the world. As recognized retirement experts and internationally published authors on topics of finance and world travel, they have been interviewed about retirement issues by The Wall Street Journal, Kiplinger's Personal Finance Magazine, The Motley Fool Rule Your Retirement newsletter, nationally syndicated radio talk shows and countless newspapers and TV shows nationally and worldwide. They wrote the popular books The Adventurer's Guide to Early Retirement and Your Retirement Dream IS Possible.
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