What happens to student loans if someone passes away?
My friend is very ill, and I am worried his family will be saddled with his loans. I know that they are currently in a difficult financial situation, and they will not be able to pay the loans without his income.
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his estate stands for the bill.
no one who has not signed for student loan owes anything.
Student loans are guaranteed by the U. S. Department of Education. That means that payment to the lender is guaranteed by a government agency and a student’s parents are not liable. They will need to send a death certificate to the lender so the government can pay the loan off.