I Owe $100,000 in Student Loan Debt And Might Have to Leave the U.S. My H-1B is Expiring. – Venkat

“Dear Steve,

I have been in US from 2002, I have been working full time from 2004. I have been working on my part time MBA from a Top business school from 2008. I am on currently on a H-1B visa now. The green card is no where in sight.

I have minimum credit card debt and i have cleared nearly all my credit card debt. But I will have around 100,000 in Student loan debt when i come out of school. But my H-1B visa is running out and i am not able to find an MBA job using my H-1B. I dont want to stick with a IT job or My stupid leech of a consulting company.

Can a person on H-1B file bankruptcy?

What are my options?

WIll the student loan go away in bankruptcy?

If i get a good finance job in Hong Kong can i say to debtors that they can take all my Savings in US and Settlle.?

Can i offer some kind of settlement.

If my H-1b Expires and i have to leave US will it be a criminal offense?


Dear Venkat,

Student loans are the worst type of debt you can have. It is not dischargeable in bankruptcy and they are not anxious to accept settlements, but it depends how much you have in savings and are willing to offer.

You can’t discharge student loans in bankruptcy unless you went for a Chapter 11 bankruptcy and could prove they were an ‘undue hardship’ which is a tough hurdle to cross.

Your H-1B status does not prohibit you from filing bankruptcy but I can’t see how bankruptcy would benefit you with the student loans being the primary debt.

Not repaying the student loans will not be a criminal offense but it can result in a lawsuit being filed against you for non-payment.


You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.

Do you have a question you'd like to ask me for free? Go ahead and click here.
Damon Day - Pro Debt Coach

See also  Student Loan Adversary Filing - Robin A Lynn - Adversary Proceeding
Follow Me
Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
Steve Rhode
Follow Me

1 thought on “I Owe $100,000 in Student Loan Debt And Might Have to Leave the U.S. My H-1B is Expiring. – Venkat”

  1. I have a question. I have 60,000 in government Student loans. I was forced because of the work market to retire at 62 with an income of 1275.00 per month. Will the government be able to take monthly payments of 15% out of my ss check? I still want to work, but at my age, even though they say discrimination is illegal, it is done everyday. I have been looking feverishly since March of last year. Can you help me?


Leave a Comment