According to www.studentaid.ed.gov/students/attachments/siteresources/RepayingYourStudentLoansEnglish2003_04.pdf Death of the student cancels Perkins loans, FFEL/Direct Loans. Stafford and Plus are included. Not sure about private loans.
If there was a co-signer on the loan, then the co-signer will be responsible for the balance of the amount still owed. If not, then the lender can sue, or place a lien on the estate of the deceased for the amount owed on the loan.
Their going to come after you to pay the debt. YOU CO-SIGNED! That means in the event that the primary borrower can not or does not pay the loan you are responsible to pay that loan. There is no way around that.
If the co-signer dies the surviving borrower is responsible for paying the loan.
You are still respnsible for paying should the borrower die.
the borrower
borrower dies then it is not suitable that amount recovered from gaunter because of person taking guaranty of live person nor death
That's the borrower.
The other signer is responsible.
Federal 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.
A personal item is returned to the borrower
If the student dies, the loan dies with him/her. It's all in the fine print of the Master Promissory Note.
Yes, unless the loan is settled by the estate.
Generally, yes. That is generally the purpose of requiring a co-signer for any loan. In the US, the answer may be no if the loans are federally guaranteed student loans. Once the borrower dies, the government will forgive the loans. Contact the Ombudsman's office with the Department of Education.