Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Is there really any incentive to pay back? Seems to me like worst case I pay back later in life when I am financially in better shape. Best case they never hear from me again. < $35,000?
Would the same general logic apply for debt owed to the court system. < $5,000?
The student loan: How about - you have a moral obligation to pay it back? The government took my money and gave it to you with the understanding that you would pay it back because 1) you said you would and 2) that way there are funds for the next kid that needs assistance to go to school.
The county system: That will turn into something that will get you a visit to the pokey.
Student loans can be legally deferred and can be set up so that the amount you pay is based on your income. You didn't share the story behind the owed court fees but likely agreeing to pay those funds kept you out of jail, they will get either their money or your time unless you are planning of staying away from this country the rest of your life. Be a responsible adult instead of an amoral pig and fulfill your obligations.
__________________
When I post in bold red that is moderator action and, per the TOS, can only be discussed through Direct Message.
Is there really any incentive to pay back? Seems to me like worst case I pay back later in life when I am financially in better shape. Best case they never hear from me again. < $35,000?
Would the same general logic apply for debt owed to the court system. < $5,000?
You borrowed the money you should make a good-faith attempt to pay it back. $35k is not an impossible amount of money to pay back. I have over $125k in student loans (I have a doctorate degree), I pay them even if it means that I need to work on an additional job teaching online. Here's what happens if you don't pay your student loans and leave the country:
Cons
1. You'll default after 9 months and you'll own the entire loan plus penalties.
2. You'll never receive a tax return if you're entitled to it.
3. You won't receive social security when you retire.
4. You'll never be able to work in the US again even with an online job because they will garnish your wages.
5. The penalties that they will tack onto your original loans are ridiculous and completely not worth it, they'll be about 20% on top of what you already own.
Pros
1. The government and lending institutions cannot (at this moment) collect from you or garnish your wages from abroad.
With that said, are you sure you can stay in Europe? You can't just walk into Europe and start living there. Even if you have a student visa, once you're done studying you can't stay there on a student visa, you'll need to get residency and a work permit or marry a citizen (unless you already have citizenship in your country of choice).
If you don't intend to repay your student loans, I'd actually rather that you do leave the US and stop living off of the bennies that you can receive here. Oh .. and don't let the door hit you in the butt on your way out. Feel free to never return.
The government has launched student loan forgiveness programs which have been very successful.
The average student loan debt on graduation is now up to $29K.
One program sets your payment as a percentage of your paycheck and after 10 years working in the public sector the balance is forgiven.
The FedGov eats the loss.
Might pay to get yourself a public sector job for 10 years and have the loan wiped out.
The student loan: How about - you have a moral obligation to pay it back? The government took my money and gave it to you with the understanding that you would pay it back because 1) you said you would and 2) that way there are funds for the next kid that needs assistance to go to school.
The county system: That will turn into something that will get you a visit to the pokey.
Student loans can be legally deferred and can be set up so that the amount you pay is based on your income. You didn't share the story behind the owed court fees but likely agreeing to pay those funds kept you out of jail, they will get either their money or your time unless you are planning of staying away from this country the rest of your life. Be a responsible adult instead of an amoral pig and fulfill your obligations.
The court fines are for a DUI. I'm considering taking out a massive student loan to pay for it and then skipping overseas with my programming degree.
Why do you want our approval for this?
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
