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Does life insurance have to be used to pay student loans after a persons death?
Wiki User
∙ 11y ago
It depends on who the insurance policy has named as a beneficiary. If the student is listed as the beneficiary then they can spend it however they like. If the beneficiary is a trust then the trust may have stipulations as to how it can be spent and the trustee would then be charged with spending it correctly. All of this would be spelled out in a will or trust.
Wiki User
∙ 11y ago
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Can the mother of adult college student take out a life insurance on the student although the father is the parent who signs for the student loans?
yes
If you have outstanding student loans and die is the estate charged for the student loans?
Actually, that's not true - student loans are forgiven when the student dies.
What policies should be implemented now that you know that Mrs Gonzales’s secondary insurance will not cover her copayments until her high yearly deductible is met?
home equity loans, auto loans, and student loans
Are student loans forgiven after age 60?
Are student loans forgiven at age 60? Are student loans forgiven at age 60?
Will my life insurance policy have to pay my student loans?
No. Life insurance is paid the the beneficiary named in the policy, your creditors have no claim against the insurance proceeds EXCEPT if the proceeds are paid to your estate.
What company provides direct student loans?
There are only a few companies that provide direct student loans. You can go to a bank and get student loans from there, or you can get Federal Loans from your school.
If someone dies while they still owe student loans can the government take the money from life insurance policy?
In most cases student loans include a clause that cover the event of the person's death, usually by having the loan written off completely. You should doublecheck the loan agreement for what happens if the person dies, just in case it unfortunately does occur.
If a student dies are the Stafford debts forgiven or passed on to the family?
If in case of death or total and permanent disability of the student Stafford Loans are completely forgiven.
Can private student loans be consolidated with federal student loans?
Sometimes private student loans can be consolidated depending on certain factors including the rules of your lender, whether you are in deferrment or default and your credit score. You cannot however, consolidate federal student loans and private student loans together.
What kind of agency is The Student Loan People?
The Student Loan People is an agency that specializes in student loans. They are located in Kentucky. They work with people getting student loans, collections and repayments of student loans.
Are all student loans federal loans?
No, private lending institutions (such as banks) also give out student loans.
What exactly is chase card services?
they are a credit card company. and offer everything from car loans to student loans also. this company could be a good investment if you are interested in insurance or morgages.
