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

By on November 16, 2010
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..

Emily




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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.

2 Comments

  1. Nelnetcustomersolutions

    November 18, 2010 at 3:01 pm

    We understand your frustration with paying back your student loans even though you are not using your degree. We would be happy to talk through your options and explain the consequences of not paying back education loans. Just give us a call at 1.888.486.4722 or send an e-mail to nelnetcustomersolutions@nelnet.net. If you do contact us via e-mail, we ask that you place “blog response” in your subject line and provide us with your full name, date of birth, and your Nelnet account number so that we can locate your information. For your security do not place this information on this blog website.

    Sincerely,
    Tricia Kubik – Nelnet

  2. Nelnetcustomersolutions

    November 18, 2010 at 8:01 pm

    We understand your frustration with paying back your student loans even though you are not using your degree. We would be happy to talk through your options and explain the consequences of not paying back education loans. Just give us a call at 1.888.486.4722 or send an e-mail to nelnetcustomersolutions@nelnet.net. If you do contact us via e-mail, we ask that you place “blog response” in your subject line and provide us with your full name, date of birth, and your Nelnet account number so that we can locate your information. For your security do not place this information on this blog website.

    Sincerely,
    Tricia Kubik – Nelnet

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