What happens when the borrower of a private student Sponsor Loan dies?
My private school loans are through an Access Group Sponsor Loan. I misunderstood and thought this was the same as a Co-Signer. Instead, the loan is my grandmother’s on my behalf. I am concerned what would happen if she dies. Would it transfer to me or be paid by her estate?
It sounds like it is your grandmother’s loan. If she dies, the loan company would have to put in a request for payment from her estate. If her estate can’t pay it, they might come after you. You should not make any payments, or even agree to make any payments, until you are sure you have to repay the loan.
