shyunia t1_j6fp60x wrote on January 30, 2023 at 12:25 AM

Reply to comment by gandalf_el_brown in Mom and son graduate college together, fulfilling 18-year promise by Sariel007

Student loans are forgiven when you die

HeavyLogix t1_j6fqu9s wrote on January 30, 2023 at 12:37 AM

Not all private students loans

FaintDamnPraise t1_j6g1oq6 wrote on January 30, 2023 at 1:53 AM

They will continue to send collection letters to your gravesite.

VerlinMerlin t1_j6gugiv wrote on January 30, 2023 at 5:36 AM

Or children?

[deleted] t1_j6gvmje wrote on January 30, 2023 at 5:48 AM

[deleted]

VerlinMerlin t1_j6gw1dt wrote on January 30, 2023 at 5:52 AM

If it's private, they might have to I think.

Thoughtwolf t1_j6h2wpx wrote on January 30, 2023 at 7:13 AM

In most provinces, countries, states, etc. only those who have signed the contract for the debt, and the "Estate" of someone who has passed away owes back debts. So things that you own are to be sold and liquidated to pay off debts. Once all debts have been paid, only then can things of the estate be given to heirs.

If you owe 80k and have 100k in the bank in cash, you can just pay it off. Then your house or car or belongings, etc. go straight to the heirs.

However if you owe 80k and have only 60k in assets, those things would have to be sold to pay off the estate's dues and there would be no inheritance.

De3NA t1_j6hao42 wrote on January 30, 2023 at 8:58 AM

Correct. That’s why it’s better to “gift” the stuff before they pass