What happens to my student loan if I die?

If I die will my parents have to pay my student loan?


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Most Helpful Guy

  • In the US the lender will have a chance to collect from your "estate" which is the sum of your assets. If you have no significant assets the lender is out of luck. They don't try to collect from your family unless they have signed your loan agreement.

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What Guys Said 8

  • That would depend upon the law in the jurisdiction in which you live.
    Usually, debts do not transfer to another person after you die. The normal practice is that the creditor has to make a claim against your estate.
    If, however, your parents became guarantors when you applied for the student loan, then, yes, they would be liable for the balance owing.

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  • They follow you into your after life. You can never get it away from them even if you try! muuahahahahhahaha!

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  • Depends on terms of loan.

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  • no i guess it'll b cancelled

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  • are you trying to tell us something?
    If you're saying what I think you're they is always someone to talk to

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  • I think federal loans are cancelled... but state loans can vary from state to state.

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  • You are 22 and still considered a dependent (assuming you live in the US). So your parents would have to pay it off unless you die after 24.

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  • I think it gets past on to your next of kin. If there is no next of kin it gets written off.

    Please don't die!

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What Girls Said 5

  • see abcnews. go. com/Business/student-loans-die/story? id=19460467

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  • Your next of kin will have to deal with your loans.

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  • yes so don't even think about giving them that burden.

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  • Why do you ask, please do not harm yourself
    iikj

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  • it goes to your family.

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