I think Americans need to start very seriously considering working in another country after college. Student loans can't be discharged in bankruptcy, but it is extremely unlikely they will be legally enforced overseas.
For that matter, some serious thought should be given to going to college overseas. I don't care that "American universities are always more prestigious," there are some countries that are handing out full ride scholarships to internationals and some where the full sticker cost is as little or less than a US in-state public school. Most high school counselors know nothing about this and most students don't even consider it.
Ironically, many American study abroad programs probably cost more than just enrolling in the foreign institution directly for a semester (whereas the same is never true in reverse).
A friend of mine did exactly that. Entered U of Waterloo on math scholarship. Lost the scholarship in the first year because of bad grades. Second year transferred from Honirs Math t9 General Math. Third year transferred from Math to film studies. Fourth year transferred from film studies to Independent studies. Fifth year a lot of drinking and soccer - Independent studies did not require any classes just some sort of progress towards some type of essay. I think in sixth year Ontario government cut his student loans. He was on the hook for something like 50,000 CAD. Left to teach English in Seoul. Been there since 2000
For that matter, some serious thought should be given to going to college overseas. I don't care that "American universities are always more prestigious," there are some countries that are handing out full ride scholarships to internationals and some where the full sticker cost is as little or less than a US in-state public school. Most high school counselors know nothing about this and most students don't even consider it.
Ironically, many American study abroad programs probably cost more than just enrolling in the foreign institution directly for a semester (whereas the same is never true in reverse).