In Event Of Borrower’s Death What Happens To A Student Loan With A Cosigner?

Posted by StudentLoan on February 19th, 2010 | 5 comments

If someone has a tyro loan as well as had a cosigner for it what happens if a borrower (Student) dies? Is a debt cancelled?

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On February 19, 2010 bunnicul says:

The cosigner pays.
On February 19, 2010 Just_gon says:

nope, cosigner pays
On February 19, 2010 skau says:

Depends if there is a clause in the contract. If not, the burden goes to the co-signer.
On February 19, 2010 Tiare says:

No the cosigner is legally liable to pay for the debt. These are the risks of being a cosigner. if for some reason the cosigner can’t then it gets place on your credit record.
On February 19, 2010 hsmommy0 says:

nope