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Dave Kennett
Dave Kennett, Attorney
Category: Business Law
Satisfied Customers: 27689
Experience:  25 years practicing law
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If I consign on my sons student loan & he dies before the

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If I consign on my son's student loan & he dies before the loan is paid off am I liable for the unpaid balance
DearCustomer- If you cosign for any loan for anyone you are liable for that loan regardless of whether the person lives or dies. If the loan is not paid by your son or his estate then you will be liable. My suggestion would be that your son obtain credit life insurance if there is some concern that he may pass away before the loan is paid. Cosigning for loans of others is a very risky action and you have no control over whether the loan is paid and you are always liable until it is. I'm not telling you whether to sign or not sign and only you know your son and whether he will be responsible and pay the loan. Just be aware that once you sign you cannot get out of the loan liability until the loan is paid in full.
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