My mother co-signed on some student loans with me. Will she get stuck paying them if I kill myself or is there some sort of clause for that?
Yes she will.
>>17727346
student loans are forever. not even death can get rid of them
That's a bummer. I guess I need to make $20,000 before I do it. This sounds like the plot to some fucked up movie.
>>17727355
maybe write the screenplay for it? go all meta and have the guy in the movie decide to write a screenplay to pay off the debt
>>17727355
It'd be less expensive to take out a life insurance policy. Even if you leave behind $20K, even the most minimal costs of burial are going to run her 10K
>>17727409
This is true but nowadays most life insurance policies have suicide clauses to prevent exactly this.
Typically it's 2 or 3 years that if you commit suicide there's no payout. So either earn the money or just wait.
t. failed life insurance agent.
take out a life insurance policy, make 20,000$, kill yourself.
>>17727355
why don't you do everyone a favor and just shoot up a sallie mae office before blowing the entire thing up.
Take out a bank loan to pay off the loan.
http://www.nytimes.com/2016/07/04/nyregion/in-new-jersey-student-loan-program-even-death-may-not-bring-a-reprieve.html?_r=0
>>17727456
all life insurance policies have a clause that the payout is withheld if the death is ruled a suicide or assisted suicide
that's where the whole "make it look like an accident" thing comes in
>>17727477
Normally that is for the first two years. I would take one out regardless. Either you make 20k in two years or you dont
>>17727346
Why do you want to kill yourself?
>>17727351
>student loans are forever. not even death can get rid of them
In and of itself, that isn't true. When all of the names on a loan are gone, that's it. Creditors do get a crack at the deceased's estate (after the government takes any taxes owed) before anyone can inherit anything else, but they can't go after the heirs if there are still any debts owed after that. The debt is gone.
But OP's mother co-signed, so it's not a matter of inheritance. Even if OP were to die, there would still be a living person's name on the debt. So she would still be on the hook, because even now, it's her debt as much as his.
>>17727789
I'm failing my classes.
>>17727851
I'm sorry to hear you're hurting, but I really think there are better options here. Have you talked with anyone about this, perhaps the counselors at tour campus health center?
>>17727851
>failing class
>only way out is suicide
>>17727866
But seriously try to get some help dude, try to talk to someone
>>17727366
Cast barbra streisand as the mother pls
I was researching this topic earlier today. My understanding is if parents cosigned on federal loans then the loans may be forgiven but parents would still have to pay taxes on the debt. It wouldn't be full amount of debt but can still be a large amount depending on principal.