Is Americorps or the Peace Corps worth joining (mostly for the purpose of loan forgiveness)?
My credit and paychecks are crippled by student loans. At this point, I don’t expect to ever work in my field as it has been several years since I graduated. I am seriously considering joining one of the aforementioned organizations and putting in around 5 years of service- a huge commitment, I know, but not as huge as my loan. Has anyone done this sort of work? Is it worth it? Did it take you anywhere? What are the best organizations to join? I know this is several questions, but I’m looking for all the info I can get as this is a very important decision.
I was in the Peace Corps and it is a two year service program although you can possibly serve twice so that would be 4 years (and 6 months – each term is actually 27 months). I believe you can possibly have school loans deferred for at least two years, not sure about for extra time. One thing you might consider is the huge emotional impact this has and it is very difficult work and not to be taken lightly simply for loan deferral. I went to Africa in the Peace Corps and it was trying but if you go into it with a mindset to help people it can be worthwhile. I wouldn’t do it just for loan deferral.
