Im going back to school in the fall and I was wondering if for some reason I croak would my kids inherit the debt? Assuming of course I dont have life insurance.
2007-03-20 14:51:42 · 10 answers · asked by harrypotterisgreat 2 in Education & Reference ➔ Financial Aid
if these are loans through the federal dept of education, then no... they end with you, but the feds may seek repayment from your estate before your son would see a dime of inheritance.
if you went ditrectly to a bank instead, it may be different. I don't know.
2007-03-20 15:09:54 · answer #1 · answered by kent_shakespear 7 · 1⤊ 0⤋
As long as your children are not on your student loan paperwork, then your debts reamins with your estate. Of course, you need to understand that your assets will be used to pay your remaining debt, so that means your son may not get his entire inheritence.
2007-03-20 21:56:27 · answer #2 · answered by Anonymous · 2⤊ 0⤋
Yes...
http://index-go.com/student-loans-finance.asp
2007-03-22 12:43:26 · answer #3 · answered by Anonymous · 0⤊ 0⤋
your relatives will inherit your debt. So unfortunately yeah he will have to pay it. Just because you die the creditor is not going to lose the money.
2007-03-20 22:00:30 · answer #4 · answered by Jason F 2 · 0⤊ 2⤋
no...unless names of the kids are on the actual loans, they cannot get money form them..
2007-03-20 22:03:02 · answer #5 · answered by Chrys 7 · 1⤊ 0⤋
Yes your son would inherit your debts.
2007-03-20 21:59:12 · answer #6 · answered by redunicorn 7 · 0⤊ 3⤋
When my mother passed, they forgave the loans.
2007-03-20 21:55:58 · answer #7 · answered by Phartzalot 6 · 1⤊ 1⤋
it depends do you have a power of attorny on your accounts if not then no
2007-03-20 21:55:42 · answer #8 · answered by lizziemoffles 4 · 0⤊ 0⤋
i have a feeling you're going to kill yourself
2007-03-20 21:56:27 · answer #9 · answered by SKK P 2 · 0⤊ 3⤋
that'll suck for ur kids
2007-03-20 21:57:05 · answer #10 · answered by Radish 2 · 0⤊ 2⤋