Being murdered is no reason to forgive student loan, New Jersey agency says

[Deleted]

Well, there's your problem.

It would be bullshit if she hadn't co-signed and they were just going after next of kin for the money, but that's not what's going on here.

I think it would be understandable, considering the situation, if the law gave some help to the parents that had to pay the loan. I am not speaking about cancel it for them (wich should) but maybe end in same kind of agreement of a reduction in the rates or payment period/method of the loan to give some economical relief in a extraordinary effect.

[triplesdsu]

Well, she co-signed on the loan. That's what co-signing means, you're liable if the primary defaults for any reason.

Sure, the whole "son got murdered" thing adds an emotional angle to it, but again: she co-signed the loan. That's what that entire concept is built around.

Basically this. I once got stuck with a bill after cosigning, it sucks but its the risk you sign up for. Tragedy doesnt remove responsiblity.

[lockedout]

Before you start spouting off acting like any expert.

School loans are completely different than any other loan. In every case, death of the debtor results in writing off of said loan.

I think the difference here is that the federal loans were written off, these are the state loans.

[Xaikar]

Why even bother linking the article when you fucking quoted the whole thing? Yeah read this 3 days ago when it was posted on Yahoo or whatever site. It sucks for the parent there is not much they can do. What else is there to say? I mean you take out a loan to buy a house you don't have insurance and the house burns down you think they just say oh that sucks for us you totally don't have to pay us back? School loans are an investment just like any other loan.

When my house burns down I am not freaking dead. Are you kidding me! I would hate for my parents to be stuck with my Student loans if I was murdered.

[vindicatorx]

wow, who'da thought id be the compassionate one on MMOC today.

No offense but your the type of guy who will see this defaulted loan in another story where they are reporting how much it costs each and every tax payer annually on defaulted student loans.

[anveena]

I really don't see a problem here. She co-signed the loan so she's responsible for it if the primary can't pay it off.

When my house burns down I am not freaking dead. Are you kidding me! I would hate for my parents to be stuck with my Student loans if I was murdered.

Then take out a life insurance policy or don't have your parents co-sign a loan for you.

[vindicatorx]

When my house burns down I am not freaking dead. Are you kidding me! I would hate for my parents to be stuck with my Student loans if I was murdered.

I guess my example is over your head.

[the game]

yeah she's fucked because she co-signed. As long as somebody on the loan is alive to pay it back they're going to not forgive it.

[Alvito]

The loan is also in her name, it sucks but that is the way it goes. It isn't like they are making her pay for his bills, they are making her pay for her own, even if it is in a tasteless manner.

[Lady Dragonheart]

Co-signing for a student loan is extremely stupid to begin with... However, student loan debt is different than most other debts. That said, there should be stipulations for such cases, if there aren't already.

It's actually hard to think why a co-signer would be needed for a student loan to begin with. Student loans are a horrible bank practice to begin with, in my opinion.

[Jotaux]

Is it common to have someone co-sign student loans? I thought the whole point was you were a student with no credit and needed extra funds to go to school?

[Theinquisition]

No offense but your the type of guy who will see this defaulted loan in another story where they are reporting how much it costs each and every tax payer annually on defaulted student loans.

I'm compassionate sometimes dude, I mean, the ladies son was murdered. comon

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Is it common to have someone co-sign student loans? I thought the whole point was you were a student with no credit and needed extra funds to go to school?

good question.

As student loans are backed by the fed, im not sure why she would need to co-sign.

[Rotted]

For personal debts - at least in the US - a child can't be forced to take on that debt when the parent dies. Been through that process a few times, actually, and while some might try, I'm pretty sure that there's no leverage on their end.

For property, I suppose that depends. If you intend to take the property and there is still debt attached to it, I'm sure you'll be expected to pay said debt or else the mortgage company still has the right to simply take it. Might be various and sundry laws about it that I'm not aware of, though.

Well I think the personal sounds dodgy as hell, as you say personal.

But, I can easily see them being forced to pay my student loan if I popped it. But I'd imagine they'd have the same restriction as I have, a minimal of 21000 a year before any repayments

[zEmini]

1. Banks are heartless. This isn't news.

2. Don't co-sign a loan without the signer having life-insurance.

[Aeluron Lightsong]

Never ever co sign. EVER. If you have to, take out a life insurance policy to the amount of the loan so you can cover the payments if needed.

I did read the article on this a few days ago. Quite a few states have death forgiveness / allow a few months break if you get super sick. Basically, blame NJ for having the most draconian loan law in the U.S.

Even Christie made it ok to do the specific loan agency. Also hi

[Xaikar]

I really don't see a problem here. She co-signed the loan so she's responsible for it if the primary can't pay it off.

Then take out a life insurance policy or don't have your parents co-sign a loan for you.

I didn't have my parents Co-Sign I was just stating that would be terrible. Education costs way too much.

[Crissi]

Even Christie made it ok to do the specific loan agency. Also hi

hai

and thats something Christie should be blasted for, honestly. I like him, but he's got a more than a few shitty things going on.

and this is why Im so thankful I never needed a loan to go to college >.<

[dacoolist]

This right here motherfuckers, is why you never co-sign a loan. Then if your kid dies while racking up tons of debt, they get to die without giving a shit. See if I died, at least my life insurance will pay for me being a baddie and not LOS'ing or whatever this kid did.. Lives too short, stay up late and get gud - you can sleep when your dead.

[Aeluron Lightsong]

hai

and thats something Christie should be blasted for, honestly. I like him, but he's got a more than a few shitty things going on.

and this is why Im so thankful I never needed a loan to go to college >.<

I pointed it out because it felt like a "BAD GUBBERMINT" which I'm all for when it's right but at least the article should take a look at Christie as well.

[Zomis]

Why even bother linking the article when you fucking quoted the whole thing? Yeah read this 3 days ago when it was posted on Yahoo or whatever site. It sucks for the parent there is not much they can do. What else is there to say? I mean you take out a loan to buy a house you don't have insurance and the house burns down you think they just say oh that sucks for us you totally don't have to pay us back? School loans are an investment just like any other loan.

I see nothing wrong with linking the source, what is your problem?