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Can You Escape Your Student Debt by Leaving the Country?

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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.

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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.

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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.

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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.

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Charge Your Phone Wirelessly With 50% off a Multifunctional LED Lamp

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

White Wireless Charge Lamp | $18 | Amazon | Clip coupon + code ABC88699
Black Wireless Charger Lamp | $20 | Amazon | Promo code ABC88699

When you’re ready to turn in for the night, you don’t want to forget to charge your phone— especially if your mobile device doubles as your alarm clock.

With this wireless charger lamp, you can make this crucial step of your nightly routine even easier by just setting your phone on the wireless charging pad and… well, that’s all there is to it!

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Other functions include multiple lighting modes as well as a sleep timer option for auto shut-off of the light after 30 or 60 minutes.

This lamp can be yours in white for $18 if you clip the coupon on Amazon (it’s below the original $40 price) and add promo code ABC88699 at checkout.

You can snag the black version for $20 using the same code—no coupon though, sorry.

Don’t sleep on this deal! Who knows how long stock or the coupon code will last?

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Keep That Hotdish Hot With 65% Off a Luncia Casserole Carrier, Only $11 With Promo Code

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

Luncia Double-Decker Dish Carrier | $11 | Amazon | Promo code SDDU9S7F

It has been a long time since the days we could safely have a potluck or other gatherings, but we have a fantastic deal perfect for once those times return. These double-decker Luncia dish carriers can be had for 65% off when you add promo code SDDU9S7F at checkout and clip the coupon on the site (it’s just below the price). These holders fit 9″x 13″ sized baking dishes.

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That means you can insulate and keep two dishes of food warm for only $11 instead of $30. What’s more, your Luncia carrier will arrive by Christmas if you order today as a Prime member.

Just add promo code SDDU9S7F and clip the 5% off coupon to bring the price down to $11 for the blue or the grey option.

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Grab this offer while it’s still around!


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

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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.

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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!

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