CNN: Students Head Overseas to Evade Student Loans
I've occasionally discussed student loans at IYM. I posit that they are NOT the "good debt" that so many gurus espouse them to be. Rather, I suppose I'd call them "not-quite-as-bad debt." And really, I think I'm being generous.
Once student loans clog up your personal balance sheet, you're hooked. File BK, if you like, but those student loans aren't going anywhere. So what have some young'uns done to escape their student-loan responsibilities?
They've run overseas.
Like this Chris guy, who rang up $160k of student-loan debt on his way to a master's degree in music.
Punished for being a better person, Chris?
You're being punished for making shaky decisions. You paid over-inflated rates for schooling which bestowed little future earning value, and you used taxpayer-backed funds to do it. Effect, meet cause.
Glad to see your way of dealing with YOUR crappy decisions, Chris, is to cut and run. Let someone else hold the bag. Paying all those loans back yourself? No. That'd be mean. And unfair.
Enjoy your time overseas, you "better person," you.