Student Loan & Deceased Borrower

I co-signed on a student loan, and the primary borrower died recently. Am I responsible for paying this debt?

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Student Loan Consolidation
Bill's Answer: Answered by Mark Cappel

My sympathies for your loss. Any time a person dies, it is important to consult with a lawyer experienced in probate, to make sure that all the deceased's assets and debts are dealt with properly.

Federal Student Loans

Federal student loans are discharged when the primary borrower dies. See the Dept of Education Web page Common Disputes Involving Defaulted Student Loans to learn more. This page includes information on what you need to submit to the Dept. of Education to begin the process.

Private Student Loans

Generally speaking, private student loans are not discharged when the primary borrower dies. Contact the lender to see if it offers a forgiveness option for a deceased borrower.

Sallie Mae Student Loans

Sallie Mae appears to discharge student loans. See the Sallie Mae Web page Student loan discharge or cancellation to learn more, the documentation you will be required to provide, and how to start the process.

Learn More About Student Loans

If it turns out that the debts are not discharged, you can learn more about student loans and student loan cancellation, visit the Student Loans page, or see the resource Top 20 Student Loan Relief Answers.

Survivors' Liability for Decedent's Debts

For additional information regarding the liability survivors may have regarding a decedent's debts, see the Federal Trade Commission documents Paying the Debts of a Deceased Relative: Who Is Responsible? and FTC Issues Final Policy Statement on Collecting Debts of the Deceased.

I hope this information helps you Find. Learn & Save.



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