Anonymous asked in Education & ReferenceFinancial Aid · 2 months ago

Once coronavirus travel restrictions lessen, should I leave the US to escape my private student loan debt?

I am 32. I have paid over $100,000 in interest since graduating college with a useless B.A. in English, but I haven't paid a dime of principal. (I haven't been able to pay more than the interest).

I currently owe $76,000 in private loans and 40,000 in federal loans. The lowest possible federal payment is $275/month on income-based repayment. The lowest possible private payment is $560/month. I'm paying over $800/month in interest only on my loans, but I only take home $2,400/month after taxes. (It's a 40k customer service job).

I lost all of my 20's living at home with my parents. I can only afford to rent a room--not apartment--in a very, very unsafe town in my state. No where else is even affordable. Do I leave this god damn country at this point? What would you do? The loans have very much ruined my life. I didn't get to experience love, relationships, or anything like a normal adult.


I had a nervous breakdown and had to leave state school. My parents pushed me to go to a private university. As I was psychotic and didn't want to be in college in the first place, I chose an easy major.

Next time, answer the question or at least provide some helpful advice.

8 Answers

  • Anonymous
    4 weeks ago

    It sounds like your country really betrayed you.  Move to fuggin Pakistan and become a member of ISIS or something.

  • 2 months ago

    This is a civil matter. You can't be put in jail. Best I can tell is find a 2nd job and consolidate your loans.  Also I heard bjs  help.

  • 2 months ago

    Leaving the country won't erase your debt.  It is impossible to legally live indefinitely in most European countries without getting permanent resident status which is hard to obtain and you will not be able to work without that status.  Unlike the US, illegal aliens can get in serious trouble in the Caribean and most other vacation stops. and being in debt in the US  is a lot better than being in jail in Jamaica.    If you have hopes of ever returning to the US,  your debt will be waiting for you.

  • 2 months ago

    Nothing wrong with a BA in English.  It is an academic not a vocational subject but perfectly valid.  Sounds though as if you graduated with a great deal of debt and did not focus on paying it off as quickly as possible whilst you were living cheaply at home.  That bad decision has got you where you are now.

    Leaving the US now is not an option unless you have another citizenship.  Besides, running away never solves anything.  You need to cut your expenses and increase your income.  Spend the next three years making this your top priority.

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  • 2 months ago

    Federal Student Loans do not go away.  IF you are determined to be permanently disabled, you can get FEDERAL student loans discharged - read your promissory note to determine what the requirements are.  PRIVATE student loans can be dismissed or settled through bankruptcy, though.  Hope this info helps.

  • 2 months ago

    lol, no. Report to debtor's prison. If I must suffer to pay your debt, you must suffer, too.

  • 2 months ago

    Why did you do such a useless degree?

    How did it manage to cost that much -- I know people with STEM and medical degrees who graduated with less in loans than you have paid in interest! And few of them were in well-off families!

  • Brian
    Lv 7
    2 months ago

    You'd have to go to a counyry that doesn't have extradition to the US.

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