Wiki User
∙ 16y agoFederal student loans do not currently have cosigners. Parents who take out federal PLUS loans for their kids often think they are a cosigner, when they are actually the sole borrower. All federal student loans are discharged if the student dies.
Wiki User
∙ 16y agoYes.
I'm pretty sure the cosigner doesn't have to pay it. If the tenant dies suddenly, I wouldn't think his/her family would be obligated to pay the rent, because I'm sure they would move everything out when the tenant dies.
My belief is that as long as the mortgage is paid on time by the borrower, there would be no reason to go after the cosigner estate.
Yes, unless the loan is settled by the estate.
If the student dies, the loan dies with him/her. It's all in the fine print of the Master Promissory Note.
No you are not responsible but if your step daughter does not pay the loan they can still repossess the vehicle.
I'm not sure if I get the question. Are you talking about having a cosigner orlike in a PLUS loan? If a borrower dies, the loan can be discharged.
The spouse is not responsible and should not have this on her credit. But the estate of the deceased will still be responsible for the debt.
Actually, that's not true - student loans are forgiven when the student dies.
Not as long as you make your payments on time. A co-signer guarantees that you will pay your loan off. If your co-signer dies and you don't make your payments the lender will repossess the car and go after you for any deficiencies.
The loan could be held as a claim against the estate. Such things can cause an estate to take many years to settle.
If a parent were to obtain a federal school loan for their child and the pass away , the child would not be responsible for paying it back. The loan would be discharged due to death discharge. A death certificate would have to be shown to prove death of the borrower.