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What happens to student loans after you die depends on the type of student loans you have. Let’s take a look at how creditors treat different types of student debt. Federal student loans ...
Back in 2019, when more than 44 million Americans had a combined student loan debt of $1.5 trillion, insurance firm Haven House surveyed borrowers about the impact of death on their student loans ...
When it comes to student loan debt, much depends on whether the debt is federal versus private loans. "Federal student loans are forgiven upon the death of the borrower, but some types of student ...
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Specifically, the borrower must be a "new borrower" as of October 1, 2007, and have received a disbursement of a Direct Loan on or after October 1, 2011. A borrower is a "new borrower" if, when receiving a federal student loan on or after October 1, 2007, the borrower did not have an outstanding balance on another federal student loan. [2]
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