What Happens to Student Loan Debt When a Borrower Dies?
When a student loan borrower dies, it can leave the family with numerous questions regarding how to pay off the deceased’s debt. Student loan debt is not always discharged upon death in the same way that other debts are and there are several consequences which family members should be aware of before attempting to settle any balance due. Unfortunately, this process can be complex and time consuming for surviving family members.
It is important for borrowers to understand what happens to their loans upon their death, as well as discuss their options with loved ones prior to passing away. Depending on the type of loan, different rules may apply when it comes to settling the debt after death.
The Law Offices of the Omar Zambrano has helped thousands of people and businesses in the past to get out of debt and start over.
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