If you don't repay the loan in full, the amount outstanding will be deducted from the final death benefit. (pocketsense.com)
A cosigner can be a friend or relative, or anyone who agrees to sign alongside you and be responsible for repaying the loan if you fail to do so. (badcreditloanservices.com)
It's a legally binding agreement stating that they're willing to share the responsibility of repaying the loan on time and in full. (salliemae.com)