What authority would say a private student loan company have over me if I leave the country? Could I simply not pay them back if I don't intend to return?
What authority would say a private student loan company have over me if I leave the country...
And fucking stay out you non-white.
Ayaya
Just be careful where you go, or it might be worth their while to hire a local debt collector to come break your kneecaps.
wondering the same but mine are from Dept of Ed
Department of Education means you can just put them on IBR ($0/month payments) as long as you make under like $108k/yr overseas).
If you're leaving America then it's not worth it. You just simply cant find a good income in another country that won't make you pay back the debt and then you could never go back.
That's not true.
explain?
AYAYA
Had a roommate once who moved to britbong land leaving behind some car payments and a loan. Got some angry phonecalls from debt collectors before just telling them to fuck off and that he bounced. He came back to visit his mom a couple years later and brought along his kid and wife he got over there. Nothing ever happened to him far as I know.
I'm going to be renouncing US citizenship though, I could stay gone forever if I wanted to
Still, while waiting for new citizenship the IBR option is the way to go. I'm planning to renounce US citizenship too so I don't get locked up 25 years down the line when the direct loans go as "tax" income.
I'll have israeli citizenship relatively instantly
that being said can I forgo payment entirely?
Yeah.
what would happen if I came back to the US on a tourist visa, assuming my loans are federal?
Nothing, not even private would have any effect. Debt is not a criminal matter.
source?
Debtors prisons were abolished in the US.
All of the other replies are ignoring the fact that written-off debt is considered taxable income.
If you default on a private loan, after some years (I can’t remember if it’s 5 or 8) the bank officially writes off the debt and reports the written off debt to the federal government as income that you now owe taxes on.
If you’ve already renounced your citizenship by that point, you’re probably fine.
Has been mentioned
Although, thanks for the tip regarding private loans.