Fed Financial
sallie mae student loans?
i would like to know if a loan that was taken out in a parents name can be changed to the students name as the parent is now 72yrs old and no longer working, and what will happen when this parent is deceased before the loan is paid off. This was possibley a parent plus loan, it was taken out in about 1990 or there about.
Public Comments
- depends on who signed the loan, if the two parents are living and the student all signed the loan then all three are responsible. If both parents are deceased and the student did not sign the loan papers, nothing can be done. Only the people who signed for the loan are responsible to pay it back. just like any loan, if you co-sign you are responsible to pay back.
