Student loan strategy: Kicking the can down the road

vendredi 30 octobre 2015

I found an interesting thread on the fatwallet finance forums:
http://ift.tt/1MxHsSM

The original poster wrote this:
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I think I may have discovered a loophole in how to get out of my student loans for a few cents on the dollar. It is your turn to poke holes in this idea. Let me know any reason why it wouldn't work.

I graduated in in June 2015 and my loan payments are supposed to be $1250 each month when I have to start paying them in December. In my case, IBR would not reduce my payments.

I was thinking that I could register at a community college for 8 credits, then withdraw after classes start. This would give me another 6 months without payments. I could repeat this process every few months forever. It would cost me less than 2k/year to do this. In my case, this would be SIGNIFICANTLY lower than my student loan payments.

In 50 or so years when I get old and die, my student loans will be discharged, so this would not effect my estate.
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The person's username is Doxazosin, so I suspect this may be a pharmacist or doctor.

Would this actually work? Seems risky, but I can't explain why.

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Student loan strategy: Kicking the can down the road

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