As resumption of educational debt repayment looms, more than 7 in 10 borrowers say they are taking on extra work, while half say they don't know whether they'll be able to make payments come October.
The way student loans are structured you can’t not pay them. Don’t pay your loans and default, we’ll get your wages garnished. You get a tax refund normally, well they’ll take that. Oh you are on government assistance well they’ll cut the amount you get. Want to declare bankruptcy sorry still gotta pay the loan.
It will only be worse for incoming freshmen since the rates will now be between 5.50-8.05% last I saw.
No matter what people who lent money for student loans will get paid unless the whole system changes and judging by those in charge there is a snowflakes chance in hell that happens unfortunately.
You can get on income-based repayment. You have no American income, so you pay nothing. Eventually the debt is cancelled, as long as you don’t move back.
The way student loans are structured you can’t not pay them. Don’t pay your loans and default, we’ll get your wages garnished. You get a tax refund normally, well they’ll take that. Oh you are on government assistance well they’ll cut the amount you get. Want to declare bankruptcy sorry still gotta pay the loan.
It will only be worse for incoming freshmen since the rates will now be between 5.50-8.05% last I saw.
No matter what people who lent money for student loans will get paid unless the whole system changes and judging by those in charge there is a snowflakes chance in hell that happens unfortunately.
Time to leave the country and never return.
I don’t think your debt disappears if you expatriate.
Banks hate this one simple trick.
it doesn’t go away but if you don’t come back it doesn’t really matter
Removed by mod
Can’t garnish me or take my things if I expatriate and just become homeless. Checkmate government!
It does if you expatriate into ¡Gregorio Sanchez, Title Alligator Boxer Extraordinaire!
You can get on income-based repayment. You have no American income, so you pay nothing. Eventually the debt is cancelled, as long as you don’t move back.
Wow, I had no idea. See ya!