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Good evening. In a situation like this, to minimize your costs, it would be best to present an offer to settle with them, paying in a lump sum. I say this because when it comes to student loans, getting out of paying them is not possible. As such, if X amount was borrowed and owed, then you can offer Y, to try and resolve this and limit your financial exposure. When a party co-signs, they agreed to be responsible and while I know you were helping him out when you signed, the lender will try and go after you and him.
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