Student Debt + Senior Care Needs = Interesting Proposal

Parents Forum
1

<p>The NY Times "New Old Age" blog discusses a suggestion to set up a program of volunteer caregiving in exchange for loan forgiveness. It's now a whitehouse.gov petition, "Create a Caregiver Corps that would include debt forgiveness for college graduates to care for our elders". There are certainly a lot of holes in the idea, but you may consider it worth a look and possibly a vote on the whitehouse.gov site. </p>

<p>Read more from the New Old Age discussion at A</a> Volunteer Army of Caregivers - NYTimes.com</p>

2

<p>I’m sceptical - I’d worry about people who got into it for the wrong reasons. Plus - how much debt relief would this actually give? If it’s less than minimum wage equivalent then it won’t be worth it on the part of the student debtor - they may as well just work more hours in their regular job. If it’s more than minimum wage, then it would be cheaper for society to just pay professional caregivers. </p>

<p>However, one variant of the same sort of idea is Shared Lives schemes. Essentially, an older person who is isolated / not quite managing their home any more offers free accommodation to a younger person in return for companionship and help around the house. […Homeshare</a>? - Shared Lives Plus - Shared Lives, Small Community Services](<a href=“http://www.sharedlivesplus.org.uk/what-is-shared-lives/homeshare]...Homeshare”>http://www.sharedlivesplus.org.uk/what-is-shared-lives/homeshare)</p>

3

<p>Creating a new program will take more $$$$. When folks graduate with debt, someone has to pay it back. If young people want to serve as caregivers and use their wages to pay off loans they already can. Weary of too many programs, personally.</p>

<p>SRs with space can already barter free or reduced rent for some caregiving.</p>

4

<p>Seems already available if they want to do this. But it would not pay back $50,000 per year. I dated a guy in college a long time ago that lived in a group home as an aid for mentally ■■■■■■■■ adults. He was a social work major and got great experience, got free housing and was paid.</p>

5

<p>There is also a program that currently exists where people can work for qualified nonprofits and get some loan forgiveness. Why one more program?</p>