Back in the day, you could claim bankrupsy. Now you can defer, stay in school or a million different ways to procrastinate paying back. I've used them all up, except for going back to school. I want to change my major and have ruined my credit and want to be able to just erase the money I borrowed. Do I have a choice?
2007-11-25 13:12:33 · 22 answers · asked by jedigurl 2 in Education & Reference ➔ Financial Aid
Congress finally got wise to the people who would declare bankruptcy just before they started their doctor, lawyer or other high paying careers.
You should have considered whether or not you would want to pay it back before you borrowed it.
2007-11-25 13:18:37 · answer #1 · answered by lcmcpa 7 · 3⤊ 0⤋
You should visit CREDIT-SOLUTIONS.INFO- I am sure here you can find the best option for you
RE Has anyone found a way around paying school loans back?
Back in the day, you could claim bankrupsy. Now you can defer, stay in school or a million different ways to procrastinate paying back. I've used them all up, except for going back to school. I want to change my major and have ruined my credit and want to be able to just erase the money I borrowed. Do I have a choice?
2014-10-14 15:53:28 · answer #2 · answered by ? 1 · 0⤊ 0⤋
First of all, if you have gone to school, it certainly was not to learn how to spell !
"Bankrupsy????"
If a school loaned you the money through a student loan, YOU ARE OBLIGATED to pay it back. You wrote you have found a milliion different ways to paying back and have used them all up except for going back to school.
GO BACK TO SCHOOL, GET AN EDUCATION AND PAY BACK WHAT YOU BORROWED.
You will ruin the system by not paying back and this effects others that want to borrow.
Also, when you finally do become gainfully employed, you risk having a court order for partial monthly payments deducted from your pay or if unpaid and not attempt to pay, the loan server can notify the IRS and if you are due any refunds, the money is taken to pay back your student loans.
SO, DONT BE A DEADBEAT AND PAY UP !!!
2007-11-25 21:19:01 · answer #3 · answered by evelynj1948 3 · 5⤊ 0⤋
The only legitimate way to not have to pay school loans back is to end up becoming permanently and totally disabled to the point where you can never be gainfully employed again. That being said, it is much better to pay for your schooling with grants and scholarships, get a better paying job and then repay your student loans. That money was there when you wanted to go to school, why shouldn't it be there when students want to go to school in the future?
2007-11-25 21:17:15 · answer #4 · answered by creativesoapz 2 · 1⤊ 0⤋
Defaulting on your student loans makes it more expensive for others to get student loans...to cover the unpaid loans, others will have to pay a higher interest rate. Please don't do that, I have enough loans of my own to pay back.
If you want to change majors and keep going to school then do it. The only problem your credit will cause you is if you go to a bank to get a loan. The government loan/grant programs are based on your financial need-not your credit.
2007-11-25 21:16:57 · answer #5 · answered by Moon 4 · 4⤊ 0⤋
I, _____, do solemnly swear (or affirm) that I will support and defend the Constitution of the United States against all enemies, foreign and domestic; that I will bear true faith and allegiance to the same; and that I will obey the orders of the President of the United States and the orders of the officers appointed over me, according to regulations and the Uniform Code of Military Justice. So help me God.
2007-11-25 21:17:36 · answer #6 · answered by David 4 · 1⤊ 0⤋
Sorry, no such luck. The only thing to do is to start paying them back and stop putting it off. Student loans are notoriously punitive to those who try to ignore them so do your best to start the process and get your credit back on track.
Good Luck!
2007-11-26 11:15:36 · answer #7 · answered by Think 2 · 0⤊ 0⤋
Instead of beating around the bush and wasting your credit, just pay it back. It'll feel nice to pay that last check on your way out of debt.
2007-11-25 21:17:45 · answer #8 · answered by colleenicole! 4 · 1⤊ 1⤋
The only thing I can think of is death. They will want the money back and if you don't pay it they will get collection agencies to start hounding you day and night.
2007-11-25 21:16:10 · answer #9 · answered by Stuck in the middle of nowhere 7 · 3⤊ 0⤋
pay yor bills... Work hard and learn to enjoy the struggle. The American dream is not attained by dodging responsibility. Don't define yourself as a loser by your actions. Use your knowledge to overcome adversity. You can do it. it's a choice!!!
2007-11-25 21:18:33 · answer #10 · answered by romans 10:9-10 1 · 1⤊ 0⤋