Volunteer 1,700 hours of your time to AmeriCorps and receive a Segal AmeriCorps Education Award. Contact AmeriCorps/VISTA program at 800-942-2677. You will be working to help eradicate hunger, homelessness, poverty and illiteracy. You can receive $5,350 toward your loan to reduce your debt as of 2010.
Apply to work for AmeriCorps or Peace Corps to get a student loan reduced from the U.S. Department of Education (Stafford Loan Forgiveness). This reduces the amount owed as long as you work for 10 years. It is considered a forgiveness program because you work to serve the community, so you earn help with loan debt in return.
Become a full-time teacher in an underprivileged or rural school district. You can have a portion of your Stafford Loan forgiven under the Teacher Loan Forgiveness Program. Speak with your school district's administration to learn which schools are included under the federal loan forgiveness program.
Sign up for the Army National Guard. You may be eligible for the Student Loan Repayment Program, which offers up to $50,000 for certain programs. Talk to a National Guard recruiter for detailed information.