As many Austinites know, some pretty amazing ideas come out of SXSW. This year, a noprofit called SponsorChange received a community service award for their innovative solution to crushing student loan debt facing many millennials and the talent/manpower gap faced by just about every nonprofit organization out there.
The model of SponsorChange is simple:
- Recent college graduates with student loan debt sign up to volunteer through SponsorChange's portal, then log hours doing charitable work.
- Donors also sign up via the portal, and sponsor volunteers, paying down their student loan debt as reimbursement.
Volunteers get valuable work experience while mitigating hefty student loans. Donors see direct impact from their gift and simultaneously help a college grad and a local nonprofit. Everyone walks away happy.
SponsorChange is based out of Washington D.C. and has offices in Chicago and Pittsburgh, but once the portal launches later this year, any college grad can link up with a nonprofit registered with SponsorChange, regardless of locale. Based on their twitter feed, it also looks like SponsorChange is also working on fellowships and other opportunities down the line.
For now, let's just count the days until the launch.
For more info click here.