The federal government should institute a program to forgive federal student loan debt to borrowers performing qualified volunteer work. An ideal program would offer immediate relief to borrowers on upcoming loan payments due, for a rough example: volunteer for 10 hours in a month and reduce next monthly student loan payment by $100.
This program would promote community involvement and provide an avenue for unemployed borrowers to spend productive time volunteering and networking. It also encourages borrowers to stay current on their obligations and demonstrate a solid credit history. Reducing the debt burden among young Americans would increase their spending power, promote household formation, and attract more students to noble professions.