Originally Posted by
fosters
Hence why I'd move to Canada!!!
You *could* however transfer to credit cards, then default/bankrupt on those...
Out of curiosity is there any situation that can erase student loan debt? I know bankruptcy won't and if you just fail to pay they will garnish your wages (!). I haven't come across any, I was thinking that after so many years of non-payment they would go away after the statute of limitations has come and gone, but I don't really know anything about that stuff.
There is no statute of limitations on federal student loans. If it is a private loan, it can be discharged in bankruptcy. If it is a federal loan, it can still be discharged if "undue hardship" is shown. Very possible for a regional pilot in this industry. Otherwise, if you just stop paying, it will eventually drop off your credit report in 7 years, even though they can still try and collect the debt.