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What happens to a student loan when the borrower student dies?
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.
Who would pay the loan if the borrower dies and there is no co signer?
Unless there is insurance to pay the loan the estate of the deceased will pay it. If there is no estate, the lender is out of luck.
Who is resposible for the loan if the title is in the deceased name only?
The estate is responsible for the loan. If it is not paid the bank will take the property.
What is responsibility as an heir to deceased's loan?
There is no responsibility. The loan is the responsibility of the estate. They are required to pay off the loans if possible.
Is life insurance considered part of deceased persons estate when money is owed to loan companys?
If the life insurance has a named beneficiary then life insurance benefits are not subject to debtors claims. If there is no beneficiary or the "estate" of the deceased is the named beneficiary, then loan companies can come after the estate.
Does a student loan go against your estate when you die?
Yes.
What is an easy student loan?
An easy student loan is a loan for students going to college that offer a shortcut for payment but with high interest rates. Easy student loans are not trustworthy.
Can a foreign student get a student loan in the UK?
No, you can't. EU students can get a loan from their home country. Students outside of the EU have to prove they can support themselves financially before they're granted a student visa
Are the surviving adult children responsible for paying off student loan debts of their deceased parents?
Tyoically, debts are the responsibility of the estate, not of the family. An exception may be if a family member was the co-maker of the note.
Is there a student loan payment calculator for all student loans?
Yes, there is usually a student loan payment calculator for most students loans. Some student loan payment calculators can be accessed through the internet.
Does a spouse have to repay student loans after the person with the loans dies?
The student loan should be paid out of the estate of the deceased before it is distributed to the spouse. If there isn't enough to cover the debt, the spouse should not be held responsible for the balance, unless both people signed the loan. Many people misunderstand who pays the outstanding debt. The surviving spouse does not pay the debt, but it comes out of the estate before distribution.
When the loan company sells a deceased person's car but doesn't cover the amount of the loan is the estate responsible for the balance?
Yes, but it does depend on what Country you are in!
