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If you die, is your student loan debt buried with you?

  1. poppyr profile image99
    poppyrposted 7 months ago

    If you die, is your student loan debt buried with you?

    Many graduates leave university with a lot of student debt. If one should die, what happens to that debt? Is it written off, or moved to the deceased person's next of kin?

  2. ChadCrouch profile image75
    ChadCrouchposted 7 months ago

    I do not think so. Your debt will be claimed from your existing assets specified in your will. I think that is the route that they usually take to settle it when it comes to employees that passed. In the case of a student that just left university, well I am not sure about that.

    1. poppyr profile image99
      poppyrposted 7 months agoin reply to this

      What if the person has no assets or anything of worth?

  3. lisavollrath profile image96
    lisavollrathposted 7 months ago

    The debt would be paid by your estate. Any savings, wages and insurance left behind would go towards paying the debt.

    1. poppyr profile image99
      poppyrposted 7 months agoin reply to this

      What if you have no savings or assets?

    2. lisavollrath profile image96
      lisavollrathposted 7 months agoin reply to this

      Cosigners are responsible for the debt. If there aren't any, then the creditors are generally out of luck.

    3. poppyr profile image99
      poppyrposted 7 months agoin reply to this

      Ok thank you

  4. Luke Holm profile image93
    Luke Holmposted 7 months ago

    Depends on if someone co-signed for you. If they did, the loan defaults to them.  Otherwise, your remaining estate covers the burden.  If you have no assets, then the loans are forgiven, especially for federal loans and Sallie Mae (Navient).  Good luck! Try to get those paid off before you die so you can enjoy a bit of life in between smile I've been slowly whittling mine away too.

    1. Luke Holm profile image93
      Luke Holmposted 7 months agoin reply to this

      Why do you ask?

    2. poppyr profile image99
      poppyrposted 7 months agoin reply to this

      Because I don't want my family to have to pay my debt after I die.

 
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