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Graduates Flee US to Escape Student Loans

Student loans are increasingly necessary for many students to pay for college, but these massive debts are causing some graduates to flee the country. It may seem dramatic, but leaving the country sometimes seems like the only option for grads that have defaulted on their student loans and can't find another way to escape the debt collectors.

CNN Money profiled a student loan fugitive named Chris who got a foreign address to escape his $160,000 student debt from getting a master's degree in music. He anticipated his monthly payments to be around $600, but they turned out to be a completely unmanageable $2,400. Chris says, "I am upset at myself. I could have gone to a cheaper school. But I'm most angry at the fact that for anyone who has debt that's not student loan debt, there's relief."

In some cases, student loans are discharged or partially discharged because of hardship. Chris and other graduates who feel helpless should explore these options before fleeing the country.

Image Source: Getty
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citibankrobbers citibankrobbers 3 years
My site is new, but I'll be offering tips on how you could go the expat route. Or answering specific questions if I can.  There's no "one" way to do it, and I did not become an expat to avoid loans.  It just occurred to me after I moved abroad that I COULD bial and it would not be as hard as you might think.  I am back in the U.S., dutifully paying my loans, but it's nice to know that I could pretty easily take off should I decide to.  http://www.citibankrobbers.com/2012/06/22/would-you-become-an-expatriate-to-avoid-student-loan-debt/
esoteric714 esoteric714 4 years
Does anyone know of any useful links to a site that describes how this can be done? What the laws of other countries are w/re to bankruptcy and student loans vis-a-vis immigrants? I have well over $100k of student loans and I will never be able to pay them back.
Bornhorscht Bornhorscht 4 years
I owe $250 K in student loans. Will have to work until I'm 81 to pay it off, that's while living in rental housing. Welcome to debt serfdom, no discharge in bankruptcy, no offer in compromise. Escape is possible, as love and freedom exist beyond these shores. Look around, is this your America?
edgemont1 edgemont1 5 years
Well, I wish I could flee , sometimes i wish some billionaire or multi millionaire would just pay for my student loan. But than my bubble burst and I realize there is nothing I can do. The whole student loan system is set up as a big disincentive to pay plan. There is no real incentive to pay otherwise why would this dude run to another country. The government should have never been in the loan buisness they should tax the corporations and pay for people to go to school as buisness is the only one that reaps the benefit of an educated public. Everyone else loses.. taxpayers, students, graduates and government buisness wins as they do not have to pay for anyones education. This whole system needs to change
roninmd roninmd 6 years
It's called expatriating. When you renounce US citizenship... you must first obtain residency in another country that will accept you later as a citizen. Once you obtain citizenship in another country.. you can renounce your US citizenship. It doesn't free you from your loan obligations but it does free you from the country that put you in debt slavery. For 8 years afterward, they still make you pay US taxes if you make more than 80k.
roninmd roninmd 6 years
bottom line. when the loans are due and no one will hire you.. you are destined to get screwed by the government and banker and they will keep harassing you even at your job so you have to leave your job too then they don't get their money and the cycle continues. Leaving the country is becoming more attractive in these fascist times.
roninmd roninmd 6 years
Student Loans really are a con job. Today, unless you have rich relatives, you cannot avoid going into this form of slavery. Your country has sold you out to the slave masters (bankers). And the government bailout program is keeping the slave masters alive when they should have died through their own gluttony and greed. Students Loans are enslavement instruments to keep you in a bondage that you were never meant to get out of it. The best option is flee the country. The US is becoming fascist anyway.
4peachMoney 4peachMoney 7 years
Wonder if running from it, like any other responsibility in life, makes it worse when it catches up with you?
ferret ferret 7 years
i remember being in line to pick up financial aid. people were talking about buying cars with their education money and disregarding the fact that this was for their education & living expenses. :? even though i was completely not savvy about money, i knew it was a LOAN and it had to paid back. how does that not make sense? all of this is personal choice. no one forces you to take the money. that's what i don't get. what's up with blaming others and not realizing that loans are provided for opportunity and freedom of choice? perhaps angry people wish they could reverse time and change their actions, but that is the learning experience of life. sorry, i wish i was more sympathetic. fortunately, there are options, even though they are not the most pleasant ones. however, all of us who took out loans benefited from them at the time, right? :shrug: i definitely had a nice meal and a drink through financial aid checks! i def don't love my loan, btw. i'm not that masochistic.
Ladytron7000 Ladytron7000 7 years
Whatever happened to equality of opportunity? Tax rich people more since they make easy money off our interest payments and profits on money they've invested, not earned through wage or salary. Let the state forgive loans for people who graduate (that way, people will work harder to graduate). Or at the very least, please make my student loan payments deductible (yes, even the principal). Why do rich people's way of making more money and contributing to the economy get favorable tax treatment while working people's way doesn't?
hithatsmybike hithatsmybike 7 years
why was my post edited? Now she totally missed what I was commenting on. Sorry, anarchy but apparently we can't have a conversation here.
AnarchySupporter AnarchySupporter 7 years
I just dropped a class today, ironically. Yea. Most of it is for school. I fixed my car, went to the doctor, I need my wisdom teeth taking out... but it is for school. Degree: Major in Life.
hithatsmybike hithatsmybike 7 years
Are you sure you're using those loans for school, anarchy?
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