Community Service & Student Loans

Cheap student loan consolidation is not the only way to make a dent in your student debt. You might also consider participating in a public service loan repayment program.

Health Care Professions

If you have an educational background in a healthcare-related field, you can choose from an abundance of public service opportunities to supplement your cheap student loan consolidation. For example, the National Health Service Corps pays 4,000 healthcare employees per year to work in underserved areas. By doing so, professionals in the healthcare field can receive up to $50,000 of loan repayment if they make a two-year commitment. The agency may even continue to offer loan repayment support after the initial commitment expires if they still need professionals in the area.

Attorneys

Attorneys can also strengthen their cheap student loan consolidation efforts with loan-repayment public service. Currently, around 90 law schools award loan repayment scholarships to graduating students who go into public service or other low-paying specialties. For instance, the Legal Assistance Foundation of Metropolitan Chicago employs law school graduates to dispense free legal advice to occupants of low-income housing. The attorneys receive a salary as well as up to $15,000 per year in loan repayment assistance.

Educators

If you teach in an area with low-income families, you can use any number of loan forgiveness programs in addition to cheap student loan consolidation. The Department of Education will cancel up to $5,000 of government Stafford loans for teachers who have taught for five consecutive years on a full-time basis in a low-income area. In some cases, the DOE may also forgive all of your Perkins Loans if you teach in a field where there is a shortage of instructors.

Government

Federal cheap student loan consolidation is not the only way the government can help ease your student loan burden. Federal agencies like the SEC and the Department of Justice given their employees up to $10,000 per year of student loan repayment support. Likewise, joining the Army National Guard can get you a total of up to $20,000 in student loan repayment.