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Miller & Miller Law, LLC
414-326-9231
608-260-7133
866-678-9352
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You can also feel free to text us at 414-277-7742 to set up your FREE appointment with our attorneys today
You can also feel free to text us at 414-277-7742 to set up your FREE appointment with our attorneys today

Private Student Loans

If you are planning to apply for a private student loan that requires a co-signer, or are considering co-signing such a loan, beware of the following: If the student passes away, the lender can still demand payment from any co-signer. This is different from Federal Student Loans, which are discharged if the student passes away.

In the Fall, the U.S. House of Representatives passed a bill that would require private lenders to disclose this policy to anyone co-signing a student loan, however, the bill has yet to gain any traction in the Senate.

It is recommended that anyone who has co-signed a private student loan take out a 20 year term life insurance policy on the student for the amount of the loan to ensure you will be fully protected if the student were to pass away.

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Reach Miller & Miller Law, LLC, online or call us at 414-326-9231 to schedule a free initial consultation. Our law office also provides Spanish language services. Se habla español.

To schedule an initial consultation, call 414-326-9231 or contact Miller & Miller today.

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