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Home > Ask The Get Out of Debt Experts > Leaving the US to get rid of school loan debt. – Leah

Leaving the US to get rid of school loan debt. – Leah

I am 22, and swimming in a mountain of debt. Probably about 2,000 in credit card debt, 7,500 from a car repossesion, 4,000 in medical bills, 2,000 from a car accident that I got into while I was uninsured that was my fault, and the biggest pile of all, 40,000 in school loans.

I heard that leaving the US and becoming a citizen of another country for 25 years would make your loans disappear. If that’s true, I’ll be on the first flight to Paris by Summer. Is there any truth to it?

I saw on here your remaining balance is forgiven after 25 years if you make consistent payments, but once I get my loans out of default (which will be in august) they told me I could pay 5 dollars a month if I wanted. Which would equal out to 1,500 over the next 25 years, which is FAR more manageable.

Would they then forgive the rest of the 38,000? I hope this is true, because I would love to live in Europe and I want desperately to get out of paying these school loans. Other countries don’t charge for higher education, because they understand the value of having an educated society. I don’t feel like paying an arm and a leg for something that should be free anyways, so I want to work the system and get out of debt by paying as little as humanly possible.

Sooo, is there any truth to that? Thanks so much for your help. :)


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  • Michaela

    I hope they value your education in France because you will have to earn a huge sum to live at a standard similar to the one you could in the USA. ” The overall rate of social security and tax on the average wage in 2005 was 71.3% of gross salary, the highest of the OECD.”.  To be fair it has dropped some since 2005 but not much and it is still the highest.  Don’t forget the sales tax on top of that…”The current standard rate is at 19.6%. The reduced rate (for food and books) is 5.5% . A specific rate of 2.1% applies only to the drugs taken in charge by the Social Security.”  The unemployment rate is 9.7%.

    You would possibly be better off to get your student loans out of default (I assume from your comment that they are currently undergoing rehabilitation), have the default charge removed (up to 20% of the balance) upon rehabilitation, obtain a job that qualifies for the IBR repayment plan, have your student loan payment adjusted to match your income and then after 10 years have the balance forgiven.  It’s playing by the rules, obtaining the most benefit and not running away.

    The rest of the debts can be worked out through a repayment plan.

    With all of our faults, US citizenship is still priceless.  There is no other country to which people from around the world flock like the United States.

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