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I am on student visa with special STEM (Science Technology Engineering and Math) OPT program. That means I can stay in the US for 29 months if I work or volunteer. I am volunteering on campus right now.
STEM program exists because the US needs engineers, but apparently the US needs engineers with experience I am a fresh grad that is why I want to move board to gain some experience.
It shouldn't be too hard to stay in the US if I have special skills/experience. I have a good GPA, and I can also always go to a grad school in the US. I was offered to go to grad schools, but that means I wont be making any money. I just want to work first.
@ChunkyMonkey, I am thinking to contact the cc companies too and settle with them.
Is it possible to do that?
all I have is 3K. can I just call them, explain my situation and settle down the debt with 3k?
It would be beneficial for both parties. They get some money and I can still maintain my credit score.
If they dont want to then, they won't make any money and my credit score ruined, but it doesn't matter since I'm not planning to live in the US until at least another 7 years.
Thank you for those who giving me moral lectures, but I would appreciate if you could just focus on the practical solution: the pros and cons.
In this tough economy, it's not purely moralistic vs legal debate. It is more of a financial call.
Why do you think that people are simply walking away from their homes that are underwater? Because it makes financial sense to do so - why would I want to pay full mortgage on a house that is worth half now? Is this morally correct - no. But the kind of times we are in, perspectives need to change. If the big firms are protected by writing down their losses, doing funny tax accounting, why shouldn't the individuals do it?
You have nothing to lose to try to negotiate. Be sure it is the original credit card companies and not collection agencies. Don't offer them the 3K yet. You might need that to live on. Explain your situation and see what they can do. If they won't do anything, try for a non-profit credit counseling place. Be careful of the scams that are out there that make you pay a 3rd party in order to pay your credit cards. The non-profit counseling place can try to consolidate and help you.
It is a horrible job market right now, so I feel for you. The problem is that companies do not want to go through the bureaucracy of dealing with your visa issue when there are so many others out there that can do the same job without visa issues. Is there any way of applying for a green card or start the process? I know it is a very long and arduous process, but if you can it will take a huge albatross from the employer's perspective. You probably will have to hang in there because, I'm afraid if you leave the country, it will not be easy to get back especially with political pressure against issuing visas to immigrants for American jobs.
I'm still not wraping my brain around the 28 year repayment schedule. You said the minimum payments are $200 and if you make the minimum payments over the entire course of the loan you'll wind up paying $17,500. Based on may calculations that is 7.3 years until the loan would be paid off with the $200 monthly payment. Still not great, but you only have $10k in debt, which is not too bad. I would assume you could get some type of job in the US that would pay more than minimum wage and you'd be able to pay your loan off in a reasonable amount of time?
Maybe you already are, but I think you should be volunteering at a company which might see your value and offer you a job in your field. Maybe people call them internships. Either way they get your services free of wages. But it might be a foot in the door.
I don't doubt you are having trouble getting a job. You know there are many people just like you and I think it is pretty much world wide.
no jobs for international students in USA. sadly this is the fact and the earlier a person realises that, the better. Thousands of international students are leaving USA after their Masters, Ph.D.No point in hanging around for OPt, CPT, volunteer, extending the course duration because no matter what you do, nobody sponsors your H-1B visas. sadly people come straight from indian IT companies on H-1B visas but those international students who do Ph.D., post doctoral research in USA are kicked out.
I have a friend who went through a very similar situation. She even had less time to find a job because she wasnt an engineer major. Just keep looking for a job, apply everywhere and stay positive. Meanwhile, keep paying the minium and get another minimum wage job to increase your income. If you dont get a job in 29 months then you will get booted out of the country and then you can ditch on your credit card loans guilt free. Keep working at it and dont give up!
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I am a fresh grad that is why I want to move board to gain some experience.
