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In the event of the borrower's death, Parent PLUS loans are typically discharged, meaning the remaining balance is forgiven and the responsibility for repayment does not pass on to the borrower's estate or family members.

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5mo ago

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Is credit life insurance generally a good buy for borrowers?

Credit life insurance can provide financial protection for borrowers by paying off their debts in the event of death, but it may not always be the best option due to its cost and limited coverage. Borrowers should carefully consider their individual circumstances before purchasing credit life insurance.


How does private mortgage insurance protect borrowers in the event that they are unable to make their mortgage payments?

Private mortgage insurance (PMI) protects borrowers by covering the lender's losses if the borrower defaults on their mortgage payments. This insurance allows borrowers to qualify for a mortgage with a lower down payment, but it does not protect the borrower directly.


What insurance policy will pay off your car in the event of your death?

A life insurance policy with a clause for loan or car debt repayment will pay off your car in the event of your death.


What happens to the assets in a trust in the event of the death of the holder?

When the holder of a trust dies, the assets in the trust are typically distributed according to the instructions outlined in the trust document. This may involve transferring the assets to beneficiaries or managing them in a specific way as specified by the trust.


What is mortgage protection insurance and how does it provide coverage in the event of death?

Mortgage protection insurance is a type of insurance that pays off your mortgage in the event of your death. It provides coverage by paying the remaining balance of your mortgage to the lender, ensuring that your loved ones are not burdened with the debt.

Related Questions

Is credit life insurance generally a good buy for borrowers?

Credit life insurance can provide financial protection for borrowers by paying off their debts in the event of death, but it may not always be the best option due to its cost and limited coverage. Borrowers should carefully consider their individual circumstances before purchasing credit life insurance.


What event happens at the last of the story of jing-mei?

The death of Suyuan Woo


Can children develop post-traumatic stress disorder?

Children experiencing abuse, the death of a parent, weak parental response to the event, a parent with PTSD symptoms, exposure to the event via the media all increase the possibility of PTSD.


Custodial parent puts in will her FRIEND is to get kids upon her death not ex husband?

I suppose the CP could appoint her friend as the children's guardian in the event of her death, but the ex-husband could contest the will.


How does private mortgage insurance protect borrowers in the event that they are unable to make their mortgage payments?

Private mortgage insurance (PMI) protects borrowers by covering the lender's losses if the borrower defaults on their mortgage payments. This insurance allows borrowers to qualify for a mortgage with a lower down payment, but it does not protect the borrower directly.


What is a big event that happens to TV characters inn order to up ratings?

Death. Wedding. New Baby. Fall In Love


Where do you find club ticket on Pokemon Diamond?

it an event that happens or u can use ar to get it it an event that happens or u can use ar to get it it an event that happens or u can use ar to get it it an event that happens or u can use ar to get it


An event that happens as the result of another event?

ENSUE


What happens when someone has CTG?

CTG refers to an intense stress reaction that may develop in children following the loss of a parent, sibling, or other loved one during a traumatic event.


What happens every 3 years?

It is a triennial event. A triennial event happens three times a year.


How do trends help a scientist make a prediction?

If a scientist notices an event that continually happens due to another event or action, he can predict, If this event happens, this event will happen next.


Does Child support get paid for children with a deceases parent?

yes In Missouri, the owing parent is required to carry insurance to cover his payments in the event of his death. If he does not, and his parents survive him, their estate can be attached, even if he had older children from his first wife who had passed away during the marriage.