The citizenship is key though. Many foreign banks are mandated to report to the US if they have any customers with US citizenship in order to keep access to US financial markets. Foreign banks can refuse to open an account for you if they don’t have the ability or are unwilling to do the reporting.
I have no doubt that if enough people stopped paying back the loans and moving abroad, then the US would begin pressuring foreign banks to seize or cut off those people financially.
The citizenship is key though. Many foreign banks are mandated to report to the US if they have any customers with US citizenship in order to keep access to US financial markets. Foreign banks can refuse to open an account for you if they don’t have the ability or are unwilling to do the reporting.
I have no doubt that if enough people stopped paying back the loans and moving abroad, then the US would begin pressuring foreign banks to seize or cut off those people financially.