Remarkably inaccurate answers from a lot of folks here. Doing this is possible. I've never done it "(and won't)" but you could easily get on Income Based Repayment if you make less than $10,000 legally - it's best if you make zero. Then your payment will be adjusted to $0/mo and forgiven in 25 years. It is treated as taxable income, when the forgiveness comes, so simply anticipate that tax bill when it comes or else take your money out of the US.
That's another thing, any debt can be taken out of the US and the only way for it to be recovered is if debt collectors employ very expensive international skip tracers. They are generally not going to do this for small cases, and if they do, they'll look for a paper trail, taxes, some proof you exist. Which, how we live, there would be nearly no record of in many nations.
Further, in terms of property ownership in the US and likely some places overseas, if you do not own your land but a company does, a company that is yours, they must take issue legally with the company - not you - to go after it. So start an LLC and run a tiny little ebay business or something small and totally legitimate, and have the property be business-owned. Then proceed to squat on your company's land. This is a precaution in case they find that you had no intent to repay the loan when you took it out - which is a violation of your Master Promissory Note and totally illegal. If they can demonstrate that intent, they've got you, so be fucking careful. Or leave the US, which is always an excellent option in any scenario.