Some Borrowers Are Moving Abroad and Abandoning Their Student Loans
The New York Times • • world
Key Points:
- Amanda Lynn Tully, burdened by $65,000 in federal student loans and no job prospects, defaulted on her loans and moved to Prague shortly after earning a master’s degree in historic preservation.
- Tully’s experience highlights a broader issue, as over 40 million Americans carry federal student debt, with a record 7.7 million in default according to the Education Department.
- Some borrowers choose to leave the U.S. and live abroad to escape debt collectors and alleviate the psychological stress of student debt, often seeking a better quality of life despite lower incomes.
- Many individuals who move overseas to avoid student loan repayment, like Tully, have no intention of returning to the United States.
