Sentences with phrase «death discharge»

If you're shopping for private student loans, make a point of finding out what your potential private lender's death discharge policies are before you make any key decisions.

At a minimum, these creditors should offer the disability and death discharge relief that they claim to offer and clarify how borrowers or their survivors can obtain these discharges.

Some private lenders are now offering disability and death discharges.

The benefit is usually described as «death discharge», and this benefit it usually given to protect the family from the loan obligations upon the death of the primary borrower.

A similar drawback occurs when one person passes away because some private lenders will still hold their spouse accountable, even though some private lenders and all public lenders will have a death discharge for the loan.

Also, the death of both parents with a PLUS loan (assuming both took out the loan) is grounds for the «death discharge.»

ALERT: A death discharge may have tax consequences that could impact the borrower's estate or surviving parents with PLUS loans if their child dies.

Survivors can apply for a death discharge to cancel a borrower's federal student loans.

In addition to the death discharge, the Higher Education Act specifically provides that student loan collection must end after death.

Another common problem is that partial discharge of a joint consolidation loan under any of the discharge programs (other than death discharge) does not eliminate joint liability for the remaining balance.

Parent PLUS loan borrowers are also eligible for the death discharge if the student for whom the PLUS loan was taken out dies.

Some private lenders are now offering disability and death discharges.

Parent PLUS loan borrowers are also eligible for a death discharge if the student for whom the PLUS loan was taken out is deceased.

Parent PLUS loan borrowers are also eligible for the death discharge if the student for whom the PLUS loan was taken out is deceased.

Some other programs include Closed School Discharge, Total and Permanent Disability Discharge, Death Discharge, Unpaid Refund Discharge, or Borrower Defense Discharge.

While all federal loans and some private loans offer a death discharge if the borrower dies, some private loan lenders might not.

• Total and Permanent Disability (TPD) Discharge • Death Discharge • Closed School Discharge • False Certification of Student Eligibility or Unauthorized Payment Discharge • Unpaid Refund Discharge • Teacher Loan Forgiveness • Public Service Loan Forgiveness • Perkins Loan Cancellation and Discharge

Private loans might be another story: Some lenders offer a death discharge and others don't, so check with your lender.

«If your parents or other family members cosigned for your college loans and they don't include a death discharge clause, your family would be financially responsible for them if you were to die unexpectedly,» she says.