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Home > Reader Questions > Why Shouldn’t I Just Open a Bed and Breakfast in Italy Instead of Repaying My Student Loans? – Emily

Why Shouldn’t I Just Open a Bed and Breakfast in Italy Instead of Repaying My Student Loans? – Emily

40,000 citibank private student loan with co-signer
10,000 Gov. loan Ford
20,000 Gov. loan Nelnet

I have filed bankruptcy for about 20,000 credit card dept.

I have no assets and I am currently selling cars at a local dealership.

My MA degree is useless.

I have paid over 8,000 in interest on these loans and my principle balance is the same.

I am desperate to know the solution to my over-rated education debt. Excuse the sarcastic attitude but, I want to make the right decision with my school debt. Now that I have bad credit anyways, why even pay these? seriously what are the consequences? i know a girl who never paid back a dime of her NYU debt. and now she owns a thriving Bed and Breakfast business in Italy.

I will pay because I want to do the right thing, SOOOOO, my question is ….If I do not make a payments,,how long does it take for my student loan companies to settle with me? I could pay back say 1/2 of what I owe ,,,I need advise….thank you..


It’s time to put debt behind you and start dreaming about your life after debt. – Click to Tweet

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