According to the Consumer Finance Protection Bureau (CFPB) about 37 million Americans have incurred student loan debt that averages $26,600 per borrower. How will young people manage the burden? One answer is to take a job in public service.

Several types of relief from student loan debt are available to anyone who works for a federal, state or local government entity or 501(c)(3) tax-exempt organization. The CFPB has estimates that this group includes 33 million U.S. workers, 25 percent of the U.S. workforce.

A new CFPB consumer guide, Public Service & Student Debt, explains the variety of ways public service employees can:

1. Qualify for affordable loan payments;
2. Reduce the loan interest rate; and
3. Receive principal forgiveness.

As the guide explains, an effective strategy for paying off federal direct loans is to start by choosing an Income-Based Repayment option right out of college. Under this method, most entry-level public service employees qualify for low monthly payments based on salary and family size. After 10 years of on-time payments, a public service worker qualifies for full forgiveness on any remaining federal direct loan principal. (Privately issued and Perkins loans are not eligible for principal forgiveness.)