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I came across this comment on All Education Matters today in response to Cryn Johannsen’s post about AEM’s two-year
anniversary:
“Has this blog done anything?
I'm thinking that this entire AEM is a pretend nonprofit that you "work" for so that you can get your student loans forgiven after a
decade! Right?”
It got me thinking…why not?
Have any borrowers actually thought of going this route? Wouldn’t it be wonderfully ironic if student
debtors had their loans forgiven by starting non-profits that fight against the
student lending industry? Here’s a link to the eligibility requirements for public
service loan forgiveness.
I know one of the requirements is that the borrower must
work “full-time” for a non-profit, but it doesn’t give a definition of “full-time.” I’m sure some un(der)employed JD out
there will find a loophole somewhere!
This is a good thought. I would consider such a thing if I had an idea for a nonprofit organization.
ReplyDeleteWhat about something related to JD's who are employed in fields other than law? Some kind of organization that would build a network of similarly-situated JD's and help them with networking, resume building, etc. That way, you can still work a day job to pay the bills, but you can still fulfill non-profit duties by planning events (even virtual ones, so you could do it from home), etc.. Each state has its own requirements, and I know there are federal forms to fill out, but it might be possible for someone who is determined. You'd be providing a service, of course, in exchange for having your loans forgiven in 10 years rather than 25.
ReplyDeleteThat might work. After all, loopholes are everywhere in men's political structures and opinions, i.e. law.
ReplyDeleteI found this discussion thread regarding non-profits and student loan forgiveness. Sounds like you need to earn at least minimum wage at the non-profit. It might be possible...
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