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Will My Sallie Mae Student Loan Debt Be Discharged When I Die? – Roz

By on November 16, 2010
Will My Sallie Mae Student Loan Debt Be Discharged When I Die? – Roz

will my children inhert my credit card/student loan debt?

I am a third way through my masters degree as a part time student I am taking mostly subsized sallie mae loans, which will total about $50K upon graduation.

I had assumed that my debt would be dischargable upon my death…but am now seeing that may not be the case…I would turn over in my grave if my children had to incur this debt while building their own financial future.

not sure if I should stop now…with approx $25K accumulated…but alas…no degree in hand. Unfortunately, although I am a single mother, I do own my home (current value approx $175K (in FL with little equity and a 30yr mortgage), I am caucasian, and this is a graduate degree. These factors seem to disqualify me from many of the grant programs available to low income single mothers.

Any ideas how to protect my childrens interests? know of any grant programs/ways to approach financing my education other than SM?

Roz




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About Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

2 Comments

  1. jOHN

    July 7, 2011 at 12:33 am

    fuck sallie mae. pay off your house (use any methods u can such as 401k and any funds you can and put it in a trust for your kids. then proceed to shoot yourself.

  2. jOHN

    July 7, 2011 at 4:33 am

    fuck sallie mae. pay off your house (use any methods u can such as 401k and any funds you can and put it in a trust for your kids. then proceed to shoot yourself. 

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