Lan Posted August 8, 2010 Share Posted August 8, 2010 When Student Loans Live On After Death http://online.wsj.com/article/SB10001424052748704741904575409510529783860.html?mod=WSJ_newsreel_personalFinance In summary, a 20 something died and left his student loan to his father, the co-signer of the private student loan. Unlikde federal loan, which forgave student loan if the holder dies, private student loans don't have that clause. So they could go after co-signers until debt is fully paid. It's indeed a sad story and no one wants to think about death. But I think it's worth to ponder. "To all you people who have cosigned a note with your son or daughter, buy a term life insurance policy to cover the amount of the loan. The rates for somebody in their twenties is very cheap and it could save you financial hardship later on." Quote Link to comment Share on other sites More sharing options...
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