As the student loan debt crisis spreads there is a new surge in both interest and ideas for helping graduates resolve their student loan debt. From the dorm room to the White House proposals are swirling hoping any one of several ideas lands on a solution.
While we wait, hopefully, on a piece of legislation to change the way the student loan debt industry is run, unique ideas are popping up all over the country. One graduate reached out to the internet by posting their need on a popular crowdfunding website, raising several thousands of dollars from complete strangers to help her repay her student loan debt.
A new charity exchange program was developed to offer graduates a chance to donate their time to local charities in need of volunteers. The volunteers raise money from sponsors for their efforts in serving the community, which can then serve as money applied to their student loan debt payment. The idea was created by a nonprofit organization called Sponsor Change, who hopes to increase revenue to charities through increased sponsorship while also helping time donors with their loan payments. To learn more about Sponsor Change visit: http://sponsorchange.org
A recent graduate of the University of Oregon Law school has created a new program called “Sponsor A Young Professional”, which puts donors in touch with new professionals serving in their field of interest. This model allows people to directly fund people for their work and efforts in a field. The idea is to circumvent the middle man and selection committee of a scholarship or grant fund, allowing anyone to give funds to anyone of their choosing. This program is still in development, but you can learn more about the idea at: https://www.indiegogo.com/projects/student-debt-crisis-solution#home