• Lower your monthly payments
  • Reduce stress and live your life
  • Avoid personal bankruptcy court

How to reduce or pay for your student loans

Hello all-

I received a question through my free Debt Cures email newsletter about reducing student loans or eliminating them. Unfortunately, student loans are not able to be reduced or eliminated like a regular credit card debt. You can not get rid of them through bankruptcy either.

You’re stuck with them until you pay them off – in my case, that will be in about 25 years…sigh

There is some good news though.

There are some programs out there that can help you reduce how much your owe. These programs are called student loan forgiveness or student loan cancellation programs.

If you go to this website on Finaid.org, you can read about several student loan forgiveness programs.

Here’s a sample of some of the available programs:

Volunteer Work

These volunteer organizations offer loan forgiveness:

AmeriCorps. Serve for 12 months and receive up to $7400 in stipends plus $4725 to be used towards your loan. Call 1-800-942-2677.

Peace Corps. Volunteers may apply for deferment of Stafford, Perkins and Consolidation loans and partial cancellation of Perkins Loans (15% for each year of service, up to 70% in total). Volunteers make a real difference in the lives of real people with two years of service in more than 70 developing countries. Contact the Peace Corps at 1111 20th St., NW, Washington, DC 20526 or call 1-800-424-8580 or 1-202-692-1845.

Volunteers in Service to America (VISTA). Volunteer with private, non-profit groups that help eradicate hunger, homelessness, poverty and illiteracy. Provide 1700 hours of service and receive $4725. Call 1-800-942-2677 or 1-202-606-5000.

You can also receive help paying down your student loans if you join the Army National Guard, if you become a teacher in certain areas, or if you become a nurse and agree to work at a critical shortage location for a few years.

The main point is that you have to give your time, energy, and talents to people who need it and then in return, you will get help paying down your student loans.

Here’s an option for if you want to become a teacher and agree to work for 5 years at a low income school.

So there are ways to lower your student loans if you’re willing to do some work to get them.

So even though Kevin Trudeau wants you to believe that there is millions of free money waiting for you to get it as he says in Debt Cures They Don’t Want You to Know About, it’s the free money that usually costs the most. But, you will be a better person if you do decide to volunteer for 1-2 years in some of the programs above.

Have a great day!


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  1. I have a question reference to repairing credit scores. Due to a past hardship (illness) settlement on accounts and 1 court judgment, that I have been paying on for over a year, regularly. My mortgage was just paid in full and no other credit card debit. I am trying to repair my credit scores. I am in a relationship, which my partner has excellent credit. I would like to know if I am added to his card to start building, will it put him in any danger to his credit, if so, then what is the best way to proceed. Thanks!

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