Volunteers in Service to America (VISTA)

The federal government will cancel all or part of an educational loan under certain conditions. This benefit is available provided the borrower has not defaulted on his or her loan. Student loan cancellation is also called loan forgiveness.

Education loans may be cancelled when a borrower undertakes volunteer work.

Volunteers in Service to America (VISTA) members serve private, nonprofit, public interest groups that work to eradicate poverty, illiteracy, homelessness, and hunger. If a volunteer provides 1,700 hours of service, he or she receives $4,725 toward educational loans.

Peace Corps

The federal government will cancel all or part of an educational loan under certain conditions. This benefit is available provided the borrower has not defaulted on his or her loan. Student loan cancellation is also called loan forgiveness.

Education loans may be cancelled when a borrower undertakes volunteer work.

Volunteers in the Peace Corps can apply for deferment of Stafford Loans, Perkins Loans, and consolidation loans. Up to 70% of the total amount of a Perkins Loan can be forgiven; 15% increments are forgiven annually until 70% of the original amount has been forgiven.

Student Loan Forgiveness Basics