Sunday, June 21, 2015

A Free Way to Pay Student Loans

Congratulations graduates! You made it! You're on your way to a great life with a respectable education and the hopes of a prodigious profession. Now, all you have to do is find that perfect job, so you can start paying off your student loans – great.

That won't be a problem for some. They will go on to find the job of their dreams and live the lives they’ve always imagined. They will continue up the ladder of success, paying off their debts as time goes on.

For others, they may have problems finding the right fit, at the right company. They may even go back to school, hoping to put off paying their student loans until they get things figured out.

Whether you're one of the few who finds their dream job or not, one major reason behind enrolling in college was to increase your ability to specialize in the profession of your choice. Since college and university costs have increased over 400% in the last 30 years, it is difficult to imagine keeping up with student loans when the individual purchasing power of a recent graduate has increased by only a fraction of that rate over the same timespan.

How do you think working for the next 30 years to pay down the last 4 years of your life will feel? If you said not great, then is a startup that might be a match for you.

The concept is simple – you exchange service hours for payments towards your tuition or student loans. The platform is geared towards students and alumni who have a few hours a week to give back to their community. The ideal user wants to give back to the community but foregoes doing so because they are more concerned with working to keep up with their tuition or student loan payments.

The site pairs students and alumni with local organizations for service opportunities. Once the service has been performed and confirmed by the service site, a payment will be disbursed to the student loan company or college/university.

Believe it or not, there are generous donors that believe recent graduates should not be prevented from making major life decisions such as purchasing a home or getting married because they are bogged down with tremendous student loan debt. Give your time to a homeless shelter, do the bookkeeping for a non-profit organization, or provide legal aid to an underserved community. In return, a payment to your student loan is made!

At this time, Startnoo is receiving applications and opening the doors to students and alumni for a test group that will pay $500 towards the tuition or student loans of each participant. The deadline to apply is on June 30, 2015 at midnight (EST).

About the Author

Shamil Rodriguez

Author & Editor


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