If you’re asking whether the United States will send bounty hunters or Marines to drag you back across the border, the answer is no. However, you still owe that money.
I followed up with you and asked one crucial question: Did anyone co-sign for your loans? It turns out, your parents did on about half of what you still owe.
If they can’t get you, they’ll go after someone you love. If you have a co-signer on your loan, then they’re responsible for your loan — mom, dad, grandma, grandpa, whoever. And if you move back to this country, the debt is once again yours.
So if you succeed in emigrating to Canada — and as Forbes reported during the last presidential election, that isn’t easy or quick — I’d suggest you keep making your payments. Otherwise, you’ll be sticking your parents with the bill.
If you want to lower your student loan payments, read Debt.com’s Do-It-Yourself Student Loan Consolidation Guide. Unfortunately, the DIY process is as time-consuming and complicated as filling out the paperwork to become a Canadian citizen. So you can also call Debt.com at 1-800-810-0989 for a free consultation with one of our trained counselors. They’ll help you wherever you live.
Have a debt question?
Email your question to email@example.com and Howard Dvorkin will review it. Dvorkin is a CPA, chairman of Debt.com, and author of two personal finance books, Credit Hell: How to Dig Yourself Out of Debt and Power Up: Taking Charge of Your Financial Destiny.