Thursday, June 7, 2012
Can i pay US student loans if i move overseas?
Can i pay US student loans if i move overseas?
And would there be a decrease in the amount i would have to pay since my salary would be much lower in Brazil. Is there a website i can use to do a research on this topc? Thank you so much I wil be moving abroad right after college...
Financial Aid - 2 Answers
Random Answers, Critics, Comments, Opinions :
1 :
No. You owe them--and you have to pay them a certain amount. It matters not how much you make, unfortunately.
2 :
YES, YES, YES...to all three questions. You can pay US student loans wherever you go in the world (they would think this was very nice of you actually). Your amount you would have to pay COULD be reduced due to salary ("Loan payments are limited to no more than 15 percent of the amount by which the borrower's AGI exceeds 150 percent of the poverty line income applicable to borrowers' family size"). And the website you need to go to check it is below. You MAY want to take advantage of the income-based repayment (IBR) program available to both FFEL and Direct Loan borrowers on all Stafford and graduate PLUS loans. This will provide a loan forgiveness after 25 years of payments, as due to your income, your payments may not keep up with interest and it would really never be paid off. Good luck--Hope this helps! +Magnoaldus
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