I'm thinking about reneging on my student loans
#21
This post should have came to mind...so much to do nowadays. By hiring certain professionals I will have to stay one step ahead of the bastards that seek to enslave me and my descendants.

http://www.returnofkings.com/8595/how-to...easy-steps
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#22
(09-22-2019, 06:54 PM)ChicagoFire Wrote: This post should have came to mind...so much to do nowadays. By hiring certain professionals I will have to stay one step ahead of the bastards that seek to enslave me and my descendants.

http://www.returnofkings.com/8595/how-to...easy-steps

That article is already out-of-date.

As someone with a shitload of student debt, more than I feel comfortable disclosing out loud because I don't feel like being vilified, I'll mention a few options.

Forbearance again. You know you have the option of extending a hardship forbearance for up to 3 years, right?

IBR, listed in the article above, is "okay" by student loan payment standards, but if you owe a lot and and you're making any amount of money in the future, it can balloon significantly.

PAYE is a better option. I had to apply for this recently and I don't pay anything at the moment. You don't need to hire a professional to tell you to do a PAYE or even an IBR. Do it yourself online through your student loan portal.

That said, I've been in the same boat as you. The difference being defaulting on a student loan is one of the worst things you can do because they can later on garnish your wages. Unless you're living out of the country like me, that's a pretty big deal. I don't plan to ever return and even I make sure to have my student loans in some kind of positive status. There's also no guaranteeing that one day they won't go after all the American immigrants abroad in the future for defaulting. Almost all of Europe and Asia complies with FATCA, right? So there's no reason to believe that won't be the case later with people who have defaulted on student loans.

tldr apply for another forbearance period or PAYE

Quote:I don't want to fund the evil Department of Education with a degree I'm not using

You'll be funding it and then some if you default and they begin garnishing your wages.
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#23
^^

Thanks for the reply. My IBR timeframe is going to inspire in a couple months. I never knew about PAYE. Will have to fill out an application.
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