about the loan

[cwlz]

i feel concerned about this.
if i die when i am in debt, will my spouse or co-signer pay for me, or will the debt be cancelled?
Thanks!

 

[Daurang]

Your cosigner have to pay for sure. Buy a term life policy before you die so you don't have to worry about your spouse or kids' finance.

 

[cwlz]

Then how about the co-signer? if i buy a life policy, will my cosigner still have to pay my debt?

 

[diplo123]

Federal student loans DO NOT have to be repaid if you die.

 

[tutan]

i feel concerned about this.
if i die when i am in debt, will my spouse or co-signer pay for me, or will the debt be cancelled?
Thanks!

there's insurance. i pay like few cents (can't remember the exact amount) per each $1000 i borrow. so in case i die or survive with disability then my co-signer doesn't have to pay my debt.