Korean Job Discussion Forums

[madoka]

Well, there's always teaching in Mississippi:

Students who majored in education and teach in Mississippi may be eligible for the William Winter Teacher Scholar Loan. This program forgives one year of your loan in exchange for one year of service (it forgives two years of your loan if you teach in a shortage area).

Here's a whole page of loan forgiveness ideas:

http://www.staffordloan.com/repayment/forgiveness.php

[Fox]

I always wondered something about this. As someone mentioned, student loans can't be escaped via declaring bankruptcy, but other types of loans can. What if someone were to simply borrow substantial funds from a variety of sources, use them to pay off the loan in question (or even take a big dent out of it if you weren't able to pay it off entirely), and then declare bankruptcy a short time later to escape those obligations?

This is more a hypothetical than a suggestion.

[Sleepy in Seoul]

[mmstyle]

[Dazed and Confused]

I'm suprised no one has mentioned the US military. Get sent to Iraq or Afganistan and you get combat pay and tax free salary. There used to be deferment and partial loan forgiveness for entering the military.
Plus you might excellent health care if you are injured on the job.

[mmstyle]

[AsiaESLbound]

[perkxplosion]

-become a gold prospector
-join deadliest catch
-get addicted to gambling
-become a treasure hunter
-any form of fraud (exploiting charitable organizations for example)
-break a world record and seek endorsements
-make a famous youtube video that is an embarassment but makes you famous and then seek endorsements
-meet famous people and then become famous (aka windy city heat)
-prostitution
-learn to yo-yo very well
-write lots of books
-become a religious/political extremist (great profit potential here - think Fred Phelps)
-make a movie about something that sucks in your life that you want to blame corporate enterprises for (Super Size Me)

Hmm I could do this all day I suppose.

[Beyond]

55k is better than my 60k, and I went to state school (US) and got out in 4 years, worked some of the time, too. From my experience, if you're lower-middle class, then you pay the highest interest rates.

[D.D.]

Let's just say I know a guy who never paid his student loans in a place in north america that isn't close to mexico. They sell them off to a debt collector right away and they harass you for 2 years and then you never hear from them again. I guess if you worked there they might dock your pay but he never works there so wouldnt know. Student loans suck and are a way to enslave people to the system. Make you think you need a piece of paper and charge you royally for it plus interest. The interest part is the dirty part if you ask me.

[.38 Special]

[Unposter]

I think you should post on Dave's ESL Cafe...no joke.

You see I heard that Bill Gates deposits $10 in a secret account everytime you post on Dave's, of course, you have to use Internet Explorer. You are supposed to get that money when you go on social security but I hear you can get that money if you are in serious debt.

So, all you have to do is post 5,550 times on Dave's and your debt free! At least, that is what I would tell my parents.

The even better news is that $55,000 is around one year's salary for an average job which is not all that much to pay for a good education. The most important thing is to use that education for good purposes.

[CeleryMan]

Default. It's the "American" thing to do. You're entitled to that money and self -accountability is so yesterday.

[Fox]

[themagicbean]

@OP: Look into any refinancing/consolidation you can do. There are many options (in the US, at least, I don't know much about Canada) for refinancing at stable rates or longer-term payment plans. Yes this can result in your total interest paid being greater but getting the monkey off your back while you build a career can be a great stress reliever

@Fox News: In bankruptcy, misfeasance by the debtor will result in denial of discharge (meaning you act bad, you keep your debt). An obvious preferential transfer (paying off one guy while screwing another), particularly one funded by dischargeable debt (private loans) to pay off nondischargeable debt (student loans) would definitely qualify as malfeasance and either the private loan guys would recover from the student loan people the money (in which case you still owe the student loan people, and may owe them and the privateers some attorney's fees, too) and/or the court might not discharge your debt to the private loan servicers. Not a good idea.