These Americans fled the country to escape their giant student debt

[mfcorey1]

Chad Haag considered living in a cave to escape his student debt. He had a friend doing it. But after some plotting, he settled on what he considered a less risky plan. This year, he relocated to a jungle in India. “I’ve put America behind me,” Haag, 29, said.

Today he lives in a concrete house in the village of Uchakkada for $50 a month. His backyard is filled with coconut trees and chickens. “I saw four elephants just yesterday,” he said, adding that he hopes never to set foot in a Walmart again.

More than 9,000 miles away from Colorado, Haag said, his student loans don’t feel real anymore. “It’s kind of like, if a tree falls in the woods and no one hears it, does it really exist?” he said.

https://www.cnbc.com/2019/05/25/they-fled-the-country-to-escape-their-student-debt.html

[ck4829]

1. K&R

[KentuckyWoman]

2. He should have moved before borrowing the money.

College is set up completely ridiculous. The debt these kids end up with is horrifying. But college is a choice. There are not many better ones I agree.

However if you are going to move to India... then just move to India and skip the debt.

[Blue_true]

16. Very good points on all levels.

The guy sounds like the type of person who will order and eat a big meal and then skip out if the bill is too large.

[tonedevil]

18. It doesn't sound like...

he had India in mind while he went to college. Only after post college life brought crippling debt did India became an attractive option.

[Scarsdale]

3. He should have run for office

on the (R) ticket. THEY all end up as millionaires.

[gordianot]

4. They all end up as millionaires.

Speaking fees and financial gain is baked into the system. There is actually some oversight baked into the system monitored by other milionaires.

[spooky3]

5. The problems of the people in the article stem as much

from their difficulty in finding good jobs after graduation as from loan debt.

[MichMan]

7. Perhaps they should have done more research before choosing a major and field of study

[Blue_true]

17. Or accepted that their job prospects would be poor and they

would need to work another job other than what they trained for and live in crappy housing as they paid off student debt.

I am ok with a person taking Literature as a major, knowing jobs on that field are scarce and that they may have to work as janitors while they did their first novel.

[MichMan]

6. Couldn't find a job in his field, so he doubled down and borrowed more for a masters...

in Comparative Literature no less. He only owes 20K, yet is willing to uproot his entire life to avoid paying it.

I borrowed 10K in 1988 ( value of 22K now) so a similar amount, and it was by far the best investment I ever made in my life. Of course even at the time, I was well aware that an Engineering degree had enough value to justify the investment. Too bad for Mr. Haag that he couldn't figure that out before he borrowed all that money

[Recursion]

8. Did he not even look at income-based repayment?

You really just have to make the minimum coupon payment for 20 years and then it's all gone.

[JoeOtterbein]

9. I'm a parent who has spent over 100 grand for my children's education. And I still owe...

...a few grand.

I should have left the US decades ago!

[ravencalling]

10. Very interested in people leaving the US

Not just over debt but crushing health care costs. My family would not like India though I don't think. I would but they would vote no.

[MineralMan]

11. One wonders how he'll enjoy his concrete hut in the Indian jungle

20 years down the road. Meanwhile, compounding interest does not stop.

The cost of higher education is outrageous, but I can't see how moving to bare-bones housing in India is making good use of the degree he earned, somehow.

I'm pretty sure that his is not the best solution for the problem.

[NJCher]

12. note how hard it is to be a teacher in America

But these students are quite happy with their work--they just found teaching jobs in another country.

How stupid is our U.S. policy? We are training teachers for other countries (if this trend gets big enough).

Also, it's easy to say just don't take out the loans. Would that we were all wise when we're 18.

[MichMan]

13. Of the three examples in the article, not one studied education or obtained a teaching degree

They majored in communications, history, and comparative literature.

[NJCher]

14. so?

College teachers don't need education degrees. Neither do tutors. Teaching is not confined to public school educations where certification is required.

I'm a teacher. Many people come to teaching after another career because careers in private industry are rarely as satisfying as teaching. My point is not about a teaching degree. My point is that we are educating people who are leaving the country. And you'll note that one of the individuals tried adjunct teaching but couldn't get enough hours--not an uncommon situation at all in America. We're not doing much of anything to make it easier for these people. In fact, because of the circumstances, we provide educated workers for other countries and the taxpayer gets stuck with the tuition bill.

[TexasBushwhacker]

15. The history and comparative lit majors could have gotten teaching certificates

and taught in middle or high schools. Starting salaries in Houston for public school teachers is over $50K. It's not easy. I did it for 9 years. But it beats moving to India.