Reported about 1 year ago
In this MarketWatch article, a reader shares the dilemma of their grandfather co-signing a student loan for their cousin, who then skipped town after the grandfather's passing. The article explains that upon the death of a co-borrower like the grandfather, the deceased and their estate are no longer liable for the loan, as per the Massachusetts Educational Financing Authority. However, the student borrower remains responsible for the loan, and defaulting on payments could have consequences like impacting the co-signer's credit score. The article advises borrowers to communicate with their lenders and seek assistance if facing financial difficulties.
Source: YAHOO