Wednesday, November 23, 2011

Have federal loans spouse is an at need teacher and a cosigner would forgiveness apply to cosigned loans?

Just wondering if my spouse is an at need teacher would the federal forgiveness apply to loans that she cosigned for me while I was attending school?Have federal loans spouse is an at need teacher and a cosigner would forgiveness apply to cosigned loans?
Student loans that require cosigners are not federal loans, they are private ones. Private student loans have no forgiveness policies like the federal loans do (such as teaching in low income schools, borrower dies or becomes disabled).


Private loans are the exact OPPOSITE of federal loans in that regard. If a person dies or becomes disabled, (or chooses a low income field like teaching and is unable to repay) the cosigner is then required to pay the student loan.





Even if they weren't private student loans, but federal, the answer would be no, because the BORROWER is the one who has to do the teaching to get the loan forgiven, no a cosigner.

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