My grandfather co-signed his grandson’s student loan. After my grandfather died, my cousin skipped town. Will the estate have to pay the debt?

Dear Quentin,

My beloved grandfather tried to help out his grandson by co-signing the grandson’s student loan from the Massachusetts Educational Financing Authority — which is like a private family loan and not a federally held student loan.

Unfortunately, this grandson skipped out on paying the loan. My grandfather passed away several weeks ago. The loan is now in default and I have no idea where my cousin is. I’m appalled. What happens now?

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If a co-signer on a loan dies, is the loan forgiven, or is the estate forced to pay?

The Cousin

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