My dream is to live abroad and now I have one more reason to make that a reality. As everyone knows, student loans are a cement block that drown recent graduates, and as a person earning my JD and MBA, I will be no exception.
The traditional options for dealing with student loans are defer, pay, default, or die. I could stay in school forever and continue to defer my loans, I could pay $150,000, I could face the wrath of a collection agency, or I could die. None of those seem too appealing, so I found a more enjoyable solution: moving abroad.
With an international address, not only would I be spending my days strolling the Champs-Elysees, I would also be more difficult and expensive to find. To collect my payments, a collection company would have to hire international counsel or a third party debt collector, either of which would reduce their profit and, therefore, their incentive to find me.
I could never return to the US, but considering the current state of things, especially if Gramps and the Tramp (as my mom calls them) win, who would want to?