Can you just enroll as a part-time student at a Community College forever?
Posted by Shaved-extremes@reddit | studentloandefaulters | View on Reddit | 3 comments
A loophole to avoid/defer federal loan payments is just to be enrolled as a part-time (6 units) a semester at any accredited college. What if I just took bs classes forever and avoided paying student loans-what could happen??
WrongYouAreNot@reddit
Theoretically you can avoid paying the loans if you were constantly enrolled, yes. There is no time limit. The problem is you wouldn’t be able to get perpetual new loans to take out to pay for each new semester, so at some point it would start costing you way more to stay in school part time than to just pay the monthly payments.
OdinAnarki@reddit
They already eventually do not let you take out more federal loans for college after 6 years used to be 8. Even if you pay it off, so your comment is moot. There is no "perpetual new loans" to lose.
OdinAnarki@reddit
I've been doing this for 11 years. It works and most landlords and credit checks ignore student loans so there's almost zero penalty long term. I intend to pay off my crazy amount after success with my own business somewhere right before or after buying a house, in whatever order is easier.