College Grad Who Couldn't Find Job Leaves U.S. to Avoid Paying Student Loans

Updated March 30 2021, 7:44 a.m. ET

In 2011 and at 30 years old, Chad Albright sought a new beginning over 7,000 miles away from his home and loved ones. China was a long way from Pennsylvania, but it also distanced him from a dreaded $30,000 student loan debt. 

Such an extreme move came after years of depression from bills piling up and one failed job interview after another. "I had to escape this debtors’ prison," Chad said. "That's what America became to me, a prison. So I left." He felt like this was his only choice, his only hope for a better life.

As with many students embarking on the college journey, taking out student loans seems like a viable option when savings and other financial aid options aren’t enough. The rationale is that you’ll be in debt temporarily, and then you’ll graduate with your degree, get a job that pays well, and be able to square away your loans within a few years.

But with the country’s outstanding student debt exceeding $1 trillion, and 1 million people defaulting on student loans every year, many graduates like Chad regret ever going to college and feel like the stress of finding a job and paying back loans isn’t worth the experience. “I was expected to make a $400 loan payment every month, but I had no money, no sustainable income,” Chad said during a Skype interview. “College ruined my life."

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