Volunteer your student loan away with Do Good 4 Debt

Do Good 4 Debt is a way to volunteer yourself out of debt.

The simple concept was devised by Oxford graduate, Ian Wallace, who explains: ‘Do Good 4 Debt is an excellent opportunity for graduates as they can have a gap year of sorts, help worthy causes and clear their cumbersome debts at the same time.’

Basically a company sponsors you to work for a charity for eight months. The charity gets you and your skills, you get you debt paid off (in part or full) by the sponsoring company, and the company gets a report from you so it can see exactly how its sponsorship benefits the charity, as opposed to just making a blind donation.

Twelve charities in the UK and two projects in Africa have already signed up ahead of the official launch in January. If you’d like to register as a candidate to volunteer in return for your debt, you can complete a profile now. It does cost £16, which goes towards marketing the concept in the UK.

If you’re one of the 500 people signed up in January you can then choose from a small group of charities to go and work for in exchange that part or all of your debt is paid off under the sponsorship. And we can’t find a catch.