I found out about Sponsor Change, which helps graduates pay back their student loan debt through volunteerism:
SponsorChange Will Pay Your Student Loans
by Rachel Rowan · February 26, 2014
grads now owing, on average, $29,400 upon graduation, student loans
continue to be a great burden on our society. And if you’re struggling
to find a job in your field or can only get part time work, you may be
stressed about how you’ll pay your student loans. One program we’ve
recently come across can help with that. SponsorChange.org rewards volunteers with money paid directly toward student loans as a reward for donated time.
How SponsorChange Operates
was started by brothers Raymar and Robert Hampshire in 2009 in
Wilkinsburg, Pennsylvania to put the power of crowd-funding and
microfinance to work to help nonprofits and student loan debtors. That’s
a win-win-win in our books. The program recently moved its headquarters
to Washington, D.C., but has retained a presence in Pittsburgh and
expanded to Chicago as well. Currently, SponsorChange only works with
graduates in these three cities, but hopes to add an online program as
There are three components to the program reflected by their motto: You Serve. They Sponsor. Change Happens.
Student loan debtors volunteer at service organizations, private groups
and individuals sponsor you by pledging money to the volunteer
organization that will be used to help pay your student loans.
Non-profits host debtor volunteers and either they or sponsors (or a
combination of the two) give money to help the volunteer pay their
How the Money Gets to Your Loans and How Much You Get
volunteer engagements are typically project based rather than being
open ended and volunteers give 8-10 hours per month, but this can vary.
This means you could do this in addition to a part or full-time job to
generate extra funds for your student debt. Volunteer gigs pay $10-$20
per volunteer hour. Once the volunteer organization has verified your
hours, SponsorChange pays the funds directly to your loan servicer to
apply to your loans.
Caveats and Questions
you must live in Pittsburgh, D.C. or Chicago to participate in
SponsorChange. Also, it looks like you should get involved with signing
up sponsors to fund your volunteerism if you want to get the best
results. This may be off-putting for some people that aren’t comfortable
trolling for bucks to benefit themselves. But if you don’t have a
problem with this and like to volunteer, this can be a boon to your debt
How to Get Involved with Sponsor Change
If you live in one of the SponsorChange cities, go to their website SponsorChange.org and read the information for Change Agents –
the moniker they’ve applied to participating volunteer debtors. You can
sign up on this page to try and get yourself a volunteer gig to help
pay your loans. If you know of an individual or a company that’s looking
for a tax deductible opportunity to do good (and help you out), send
them to the Sponsor Page
to sign up. If you are already volunteering at a non-profit in one of
these cities and want to try and convert your gig to one that will churn
some student loan assistance, send them to the Nonprofits Page to get info and sign up.
Edited by sexyandfamous - Feb 26 2015 at 3:05pm