Taking too long? Close loading screen.
Connect with us

Tech

Can You Escape Your Student Debt by Leaving the Country?

Published

on

Illustration for article titled Can You Escape Your Student Debt by Leaving the Country?

Photo: Day Of Victory Studio (Shutterstock)

With the student loan debt crisis only getting worse, many borrowers might be be tempted to leave the country and live debt-free. Can it work? Yes. Is it a good idea? Not if you ever want to return to the US later in your life.

Advertisement

Moving doesn’t freeze the debt that you owe 

Your student loan debt is still considered active when you leave the country, and that debt will accumulate through interest and late fees. While it’s a myth that student loans can’t be discharged through bankruptcy, negotiating a discharge isn’t always successful. Bankruptcy is not to be taken lightly, either—it murders your credit score.

Advertisement

You won’t necessarily be isolated from the IRS living abroad either, as they can still garnish 15 percent of your wages for federal loan payment if you work for a US-based company, according to Debt.com. Private loans do have a statute of limitations, but you’re also out of luck here—the limitation can be paused if lenders can prove you’ve left the country. If you have co-signers on your loans, you’ll really want to rethink leaving your debts behind, as they’ll be on the hook for it (and easier to find).

Lastly, if you change your mind later and return to the US, you will become an immediate target of debt collectors. Wages can be garnished, you can be charged late penalties, or even be sued.

Other options 

Fortunately there are a number of options available for federal student debt relief: Check out Lifehacker’s posts on student loan forgiveness and refinancing for more information. If you’ve been abroad in the military or in the Peace Corps with unpaid student loans you can also qualify for loan forgiveness.

Advertisement

Private student loans don’t have the same built-in protections as federal loans, but you can always contact your lender to negotiate better terms. Private lenders want to ensure they get paid, so they’ll likely agree to lower your monthly payments or offer a limited period of deferment.

Bottom line

You have to be fully committed to living in exile if you truly want to leave your student loan debt behind. This decision should not be taken lightly or be based entirely on the short term—especially if you’re younger and in your twenties and, say, the election doesn’t go your way in November. Just remember you’re making this decision for all your future selves—circumstances change, people change, but the debt will remain.

Advertisement

Source

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Tech

Conquer Your Pup’s Dander and Fur With $700 Off a Cobalt or Charcoal Bobsweep PetHair Plus Robot Vacuum

Published

on

Best Home DealsBest Home DealsThe best home, kitchen, smart home, and automotive deals from around the web, updated daily.

Bobsweep PetHair Plus Robot Vacuum & Mop (Cobalt) | $200 | Best Buy

Bobsweep PetHair Plus Robot Vacuum & Mop (Charcoal) | $200 | Best Buy

Allergies can be bad enough as the seasons change. Don’t let pet hair and dander add to that by vacuuming it up early and often. That chore is easier said than done— unless you have a robot vacuum to do the work for you. This lovely bright cobalt Bobsweep PetHair Plus robot vacuum and mop, only $200 today at Best Buy seems like an ideal option. That’s a whopping $700 off, by the way.

Advertisement

You can get the same deal for the charcoal version of the robot vac, too. This model is not only specially made for picking up pet hair, it self docks and charges when it’s finished with the work.

It also comes with a mop attachment, so it can take care of those kitchen floors for you as well. Grab it while it’s still available for this fantastic price!

Advertisement


Source

Continue Reading

Tech

Apple will replace AirPods Pro for free with faulty noise cancellation, static or crackling

Published

on

Today, exactly one year after Apple first launched the AirPods Pro — and thus the same day the very first AirPods Pro owners will see their one-year warranties expire — Apple has launched a repair program that offers free repairs or replacements for another whole year if your AirPods Pro experience issues with noise cancellation or static.

Specifically, Apple will fix:

Crackling or static sounds that increase in loud environments, with exercise or while talking on the phone

Active Noise Cancellation not working as expected, such as a loss of bass sound, or an increase in background sounds, such as street or airplane noise

Apple says only a “small percentage of AirPods Pro” are affected by the issues, but it apparently wasn’t just an early batch — Apple says affected units were manufactured “before October 2020,” meaning every AirPods Pro ever made might be eligible. That’s quite a recall if so. Apple says it will repair faulty AirPods Pro for two years after you first buy them.

We’ve heard complaints about degraded noise cancellation before, and at least one Verge editor has replaced their AirPods Pro under warranty. It’s nice to hear that Apple isn’t just cutting buyers off as soon as that warranty expires.

Source

Continue Reading

Tech

This 55″ 4K TCL Smart TV Hangs on Your Wall for $200

Published

on

Best Tech DealsBest Tech DealsThe best tech deals from around the web, updated daily.

TCL 55″ S434 4K Smart TV | $200 | Best Buy

Best Buy has an insane deal going for a brand new 55″ 4K TCL smart TV. It’s the S434, which is pretty baseline for TCL’s lineup, but at just $200, there’s little to complain about. TCL’s panels are plenty sharp and accurate, and with this set, you’ll get HDR10 compliance for enhanced color and brightness in supported games and video content. This model has Android TV onboard for all your app needs, and with an included voice remote, all your favorite content is just a shout away with the help of Google Assistant.

Advertisement


Source

Continue Reading

Trending