INDIANAPOLIS -- A commitment to serve in the Peace Corps is back on track for an Indianapolis student teacher whose money for school was instead used to pay off his parents' debt.

Ball State University student Ethan Jackson secured a loan for more than $4,000 on his own to pay for his last semester and to cover his medical exams to enter the Peace Corps, 6News' Rafael Sanchez reported.

But the money went missing from his account at Forum Credit Union last month, prompting Jackson to call 6News.

"I was desperate and I needed help," Jackson said.

6News learned that when Jackson was 15, one of his parents co-signed on his account.

When his parents racked up debt, Forum Credit Union took Jackson's money to repay a debt his parents owed, in accordance with regulations governing what financial institutions are allowed to do when collecting from a borrower whose name is attached to open accounts.

Jackson said he went to local branch, but his plea rescind to the decision was denied.

"They said that they had every right to do it, and my parents could pay me back," he said.

6News reached out to Forum Credit Union Chief Marketing and Retail Officer Andy Mattingly, who reviewed the issue and ordered the original amount credited back to Jackson's account.

"Our intent is to always put the interest of our collective membership at the forefront, which is the basis for the loan agreement provisions involved. We endeavor to make exceptions to these provisions when there are extenuating circumstances that are known and verified," read a statement from Forum. "We are an organization that attempts to be flexible when the opportunity calls for such action and to remedy unfortunate events, if possible."

Jackson said he's grateful for the reversal of fortune.

"I felt awesome. All that stress and worry is gone," he said. "I get to accomplish my dreams, and that is awesome."

Jackson said he plans to complete his student teaching in the spring and then await his assignment in Africa, where he will spend three years helping children learn English.