US student loan repayment in Canada

Discussion in 'Credit Talk' started by algorokho, Oct 1, 2003.

  1. algorokho

    algorokho New Member

    My question is regarding my husband's educational loan in US. He is a US citizen, but lives in Canada as permanent resident since 2000. He is repaying his federal educational loan received in Oklahoma. Living in Canada, it's hard to pay in US dollars, and we do not get any tax breaks.
    I was wondering if there is a way to transfer this debt to Canadian institution? Would it still be considered student loan, so he can get a tax break?
    Also, if he just stops repaying, what will be consequences? We are not planning to move to US or apply for any financial loans in US. Can they make us pay somehow?

    Thanks to everyone who replies!

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