Student loan co-signer

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barb132130

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My daughter co-signed a Sallie Mae private student loan for her then boyfriend a year ago when she was 20 yrs. old. He was 31 at the time. She is a student herself and was not employed at the time of the loan. The loan's first payment is due in June. The ex-boyfriend committed suicide this week. Does she have any recourse? It was a $14,000 loan. What would happen if she doesn't pay the loan, other than possibly damaging her credit?
 
Need to get a death certificate and fax it to them as far as the rest someone much more qualified will answer shortly
 
Student Loans are paid for by the gonvernment-- she had better work out a repayment plan -- they will make her life Hell-- for a long long long time
 
If I am correct. My brother experienced this when his wife passed. The loan is then satisfied. You need to just fax a copy of the death certificate. The loans are then paid off.
 
I appreciate your response, but your brother was probably not a co-signer on the loan. I don''t think my daughter has any recourse. She was conned by this guy, and Sallie Mae was morally wrong to allow her to co-sign. She has paid, and will continue to pay a very high price for being young and gullible.
 
Did her ex leave any estate? A co-signer has a right to sue the person who defaulted on the loan for compensation.
 
No estate. He owned a motorcycle and car, but nothing else. I don't know how she could stake a claim to those items. And who would she sue?
 
She can stake a claim on them by suing him and getting a judgment against him. She'd name either him or his estate as defendant. For that amount, it might come under the small claims liimit in your state. I'd at least consult with a local lawyer to see if it's worth pursuing.
 
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