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I am on a student visa and got a student loan to pay for my education. If I leave the country without paying what will happen?
Houston, TX
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Posted 2 months ago in Debt / Lending Agreements
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I am on a student visa and was unable to pay the tuition after a few years. I decided to obtain a private student loan (unsecured with no co-signer) for $50K thinking that I would get lucky and get a company to sponsor me. I want to pay back my debt but I will be forced to leave the country in a few months and there is no way of paying the loan back on the meager salary I will get back home. I would like to know what are the consequences and whether I can still visit the U.S.?
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Answers (1)
Thomas F Urban II
This attorney is licensed in Texas and 3 other states.
Posted about 1 month ago.
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Beside the ethical issues about personal responsibility for repaying student loans, there are significant legal issues, especially if you will ever want to return to this country. In addition, although unlikely, the lender could try to pursue you in another country if treaties with that country allow such suits. I would contact your lender and/or your school's financial aid office and explain the situation. Remember, student loans are usually not dischargeable in bankruptcy and will follow you until paid.
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