sephienie asked:


Hello,

My husband and I are trying desperately to move overseas to Australia and New Zealand, and to do that, we’ve gotten new degrees to meet the skills shortage requirements.

However, between all the fees and moving expenses, we don’t know how we’re going to keep paying off our student loans, which are over $100,000 at this point. We’ve been paying faithfully for years, but haven’t made a dent.

1. Can I be arrested, have my wages garnished, have something bad happen to me if I have to default on those loans while in Australia / NZ?
2. My husband’s degree is a license to practice, he has to be evaluated by the national board of whatever country he’s in. If we default on the loans, could he have his license pulled by the issuing college in the states and be ineligible to work in Australia anymore? Would the national board of that country be able to know that he defaulted or is the testing based on his skills and those alone?

Thank you for any help you can give!
I’m not doing this with the intention of skipping out, I’m just concerned because our payback amount is so high, that for a year or two during the move, we might not be able to make this payment and I don’t want it to impact our life over there in the long run if we have to go into default at any given time. They’ve refused to give us a “deferment” because we’re moving overseas.

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Ferretti asked:


Hello I am 22 years old…unfortunately I did make some bad choices in the past and now I am paying the consequences.

I am in debt with student loans and I would like to know how will consolidating my loans, all in one will help me with my financial problems. I have like 15,000 to 20,000 in school loans. Although I am paying them ok, I would like to know what can I do…what options are there out for me to make the situation a little better. I am still going to school and would not want to take more loans, believe me, I will try not to take anymore.
IT also seems like I obviously don’t know how to divide and distribute my money properly…meaning, I don’t know how to plan my monthly budget…what can I do? any advice???

I will appreciate your answers….thank you!

p.s. Where can I get help with loan consolidation…or what company do I use…any recomendations on how to plan my monthly budget (maybe using a computer program or something)….thanks!!

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