Does anyone here owe $100,000 in student loan debt?

i guess if you are willing to run away from your country for the rest of time, you will get away with not having to pay the loans. yikes!

I do not owe anything (paid off long ago).

Some of the answer would depend on the type of student debt.
At some point it might be turned over to a collection agency. It then gets dicey as collecting would depend on the country you moved to and its laws. There likely is some way to get the money even if you are overseas through wage garnishment perhaps.



The above does not speak specifically to moving abroad.

Finally, you took out a loan. Pay it back. It is the right thing to do.

nerdwallet.com

What Happens if You Don’t Pay Student Loans? - NerdWallet

Never paying your student loans can lead to a host of financial problems, such as late fees, default and a damaged credit score.

Link:www.nerdwallet.com/article/loans/stude...

First mistake is believing the bank "loaned" you anything. They didn't. It was your signature on the promissory note that funded your so-called "loan". They loaned your money back to you with interest included. The banks pray dumbed down, television watching people never learn this fact.

Moving abroad and not returning to the US can raise questions about what happens with student debt. While it's true that some factors depend on the type of student debt you have, it's important to note that at some point, if not paid, it could be turned over to a collection agency. The process of collecting would then vary based on the country you've moved to and its laws. There might be avenues for collection, such as wage garnishment, even if you're overseas. However, it's worth emphasizing the importance of fulfilling financial obligations. Taking out a loan entails a responsibility to repay it, regardless of location. It's not just about legality; it's also about integrity and doing the right thing.

How about you repay the money that was given to you?. What a NOVEL concept...

Pathetic

Before first Christmas after college graduation, with my mid-December commission check, paid student loan debt off.

I feel like a lot of you must have gone to college in a different time. I have over $100K of loans and after being graduated now for 10 years and paying $800 a month consistently, with the interest accrual I haven't even made a dent in what I still owe.

27k for me. America is such a generous country to me.

not all of us want to work in construction buddy

Give us more details if you don't mind? Public flagship out of state tuition or public flagship in state tuition? Public local state university in state tuition? Did you attend a private college?

I don't understand why people are taking out these loans. Was going in-state to a cheaper school not an option? Why not knock out some core courses at the community college (cheap) level? I feel like parents/high school counselors, need to start advising kids better about taking on debt.

If you don't have any assets in a US bank it will be difficult to find you to garnish wages or seize assets. The exception is the IRS. US citizens are required to file a FBAR for any funds exceeding $10K in all accounts combined for tax purposes. Foreign banks also report this to the IRS.

So you can probably hide from your lenders if you don't do any business with US financial institutions but you can't hide from the IRS. They also have the power to revoke a passport.

have you been under a rock? one of biden's proposed plans the other day was wiping out accrued interest.

biden was making noises like if you are on IDR he's gonna try to have people sincerely getting out after 20 years.

first off, spare us the pretend maturity lecture. we won't let 18 year old kids drink, take out unsecured credit cards, or rent a vehicle alone, but we'll let them take out student loans then criticize them for being naive.

second, we have gutted state university funding and passed it on to the kids. state school is now in excess of $10-20k. this makes the only school one can really afford out of pocket the military academies or juco. i would work all summer 40 hours a week at slightly over minimum and i couldn't have afforded state school way back when at that rate.

third, in-state state schools, while nominally cheaper "sticker price," offered more expensive "drive out" due to limited financial aid. unless you can afford $10-20k a year cash.

fourth, maybe care about college affordability. you're the "inflation" people but don't seem to care about that inflation. what exactly are our options?

fifth, most people with significant student debt racked up most of it going to grad school trying to get into a good career. undergrad student debt tends to be limited. when it adds up is grad school as they quit giving grants and just load you up with loans.

You literally had YEARS of 0% interest, and you didn't make a dent? 42 months X $800 you should have paid of at least $33K in principal. Just during COVID relief.

Student loan forgiveness is not a fair or practical solution.

Something close to European near tuition free education is the only practical solution.

Some private education institutions would be purchased by federal government, others would be allowed to go out of business.

yep. as rates dropped for me, payments stayed the same, and final payment was quicker

my wife had something like 120k. she paid it off within 5 years. What'd she do - oh, I don't know... she worked. She worked a 55k salary job and side jobs to get to about 100k. Most our non rent/then mortgage $ went to our student debt (40k). Work and find a second job until you don't need to.

The great thing about the European system is the college is only 3 years long and most students attend an institution akin to trade school. No moron wasting 100k on a gender studies degree.