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Do Good For Debt: Student Loans Traded For Charity Work

Most students who complete a post-secondary education find themselves overburdened by the abundance of student loans they were forced to take out to finance their educations. As a result, they find themselves struggling to pay their bills as they try to start building their careers, which leaves little time or money to do anything else; finding the time to contribute to charity just is not a reasonable possibility. To make both things possible, Do Good for Debt was created to allow those with looming student loans to trade their debts for charity work.

The non-profit UK based organization was started by Ian Wallace, who found himself so constricted under the weight of his 14,000 GBP student loans that he took a job in a factory while looking for a job in his chosen field; law. With his life decisions completely surrounding making his debt payments and keeping a roof over his head, this innovative entrepreneur decided there had to be a way to look after his best interests, and give back to his community at the same time.

Do Good for Debt was created, with a main goal of working with charities to encourage recent college graduates to give back, while taking a little something for themselves in the process; complete student debt repayment. Perhaps monetary compensation for charity work, defeats the purpose and takes away from the philanthropist mentality, but hey, recent grads have a better chance at making a contribution to society if they don't have the burden of student loans hanging over their heads.

In order to join Do Good for Debt as a former student or a charitable organization willing to exchange debt repayment for a helping hand; visit their Myspace page.

Via: Business Opportunities and Ideas

Comments
May 17, 2009
by Anonymous

Great way to clear up debt

This is a very imaginative ideaand a great article explaining the details. I'm going to post a link one my website that focuses on positive news www.positivepage.com
Good news for everyone

May 17, 2009
by Anonymous

Not Volunteering

"Perhaps monetary compensation for charity work, defeats the purpose and takes away from the philanthropist mentality, "

It not only defeats the purpose but changes what it is. If you're being compensated, it's not volunteering but just work.

May 17, 2009
by Anonymous

Community organizers

Wow, just what we need. Thousands of new "voluntary" community organizers to eat up our tax dollar. I live in Albuquerque and I get 2 or 3 of these things knocking on my door every week. They are all looking for anyone who can speak Spanish. Need to show them the ropes. Most can't speak English and need to know where the nearest welfare office is.

May 18, 2009
by Anonymous

The carrot on the end of the stick?

Sometimes the only way to enable someone to do something is to dangle the carrot. That same person could choose to strive for a better job and make the money they need to pay their college debt. It's situational, but the idea is solid.

An alternative could be to secure corporate sponsorship, which could segway into finding that job they went to school to get. Sponsorship from friends and relatives could also help to service the loans from college, similar to a charity race or event.

Creativity is limited only by the needs of the individual. The more a person needs, the more creative they become.

May 18, 2009
by Anonymous

Efficient use of American tax dollars

I want the government to pay my way thru college. Afterward I will work for the government as a community organizer for 4 years, feed babies in Africa or whatever they want me to do. Now, I do plan on staying alive while doing all this volunteer work. So, they pay my way thru school, then they pay my salary, my rent, insurance, food, car and all other expenses for 4 years. If they support me during this time how can it be called volunteering ? I flatly refuse to hibernate during this time. Neither will I volunteer for absolute 0. What a deal ! It only cost the government twice as much to send me thru school this way. Very efficient use of American tax dollars. Almost as good as 1.5 billion a year to Pakistan for 5 years. Anybody out there old enough to remember the 60's ? The Government owes me a living.

May 18, 2009
by Anonymous

Update on story?

This article and its refrences are from 2007. Is there an update. Has this organization ever gotten off the ground? I saw no activity past 2007.