Ask The Get Out of Debt Experts Student Loans Suicide

If I commit suicide will my next of kin have to pay my student loans?

Written by Consumer

I know it’s a terrible question, but they say that student loans never go away.

I’m about to graduate with my masters, and it will end up costing me over 100,000. It makes me want to kill myself, especially considering how incredibly hard I worked through undergrad to graduate with almost no debt.

I wish I could turn back time- I would have NEVER decided to go back to school. I also have heard that if something were to happen to me, my next of kin would be responsible for paying. I know you will tell me it’s never an option, but financially is suicide not even an option for me? Am I that completely trapped?

After graduating I should be able to find a job at about 50,000. Is there hope for me? Will I ever be able to have a family? Or will I be anxious, suicidally depressed, and struggling for my entire life? I just don’t think I can live with the existence I’ve gotten myself into. What do I do?

The answer is if these student loans are in your name alone, then no your next of kin would not be responsible for these debts.

I abhor the thought of someone committing suicide over debts. But at the same time, in the face of what feels like insurmountable financial slavery I understand the emotion. It’s one shared by people around the world who can’t find solutions for their money troubles. It is a real problem and for some suicide is the way they deal with it.

I even thought about suicide for a few moments when I was going through my darkest debt problems.

But before we waste a perfectly good life, what do you say we work through this problem instead.

Can you please answer me in the comments section below if your loans are subsidized and government backed or private student loans. It makes a big difference.

Let’s work through this step-by-step and at the end if you decide that suicide is the way you want to handle this then it is what it is. And by the way, if that’s what you decide to do let me know where you live so I can come and kick you in the ass first. It’s not over. Far from it.

READ  I'm Losing Control of My Sanity Because of My Debt. I'm Having Bad Thoughts. - Frank

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  • I jut wanted to know if my parents would be burdened after I’m gone. No stopping this now, I’ve alreadyy mustered up the courage to finally do it.

  • Jake, there is no doubt you are facing a lot of depression, pain and deception. It can certainly feel like there is no hope or path forward but perception is not always reality. Undoubtedly you will need to take some action to change the situation. But there are steps you can take to make your life and debt situation better. Suicide might feel like the best way out but that doesn’t mean you are yet out of options. So sorry for the loss of your dog. It’s like losing a loved one.

    • I’ve tried every option and every option has been met with a very strong “No. Can’t help.” It’s unfortunate, it really is. I had such high hopes and now I live in the gutter. But rest easy, the solution is near. The only thing that can help is a winning powerball ticket and I’m just not that lucky. Thankfully I had no co-signers…

  • I’m 37 with $80,000 in student loan debt and NO Masters degree. I am the definition of hopeless. I don’t even have life insurance so it will destroy my wife and daughter, but I can’t even get out of bed anymore. I have a high(er) paying job in sales that I hate, with a lot of travel that kills me, but I’m stuck. I spend 3-4 days per week away from my family for nothing. It will not ever pay back my student loans and forget about retirement…I can’t put $5 aside.I can’t do any other profession at this point that pays enough. To top it off, our daughter went through 3 years of chemo starting at age 2 which wiped us out even further financially. No savings, no 401(k), nothing. Sold out house, live in a small duplex now, and can’t afford to live there either.

    • Jake- you are not the definition of hopeless. You are loved. Remember that. I’ve gone through severe- severe depression/anxiety due to finances/student loan debt/job dissatisfaction. I NEVER EVER thought things would get better. But they did, slowly. But they did. That’s the important thing. I was there. It’s a horribly dark place. I look back on it and truly cannot believe the thoughts/emotions I had. I’m not trying to shame you nor am I trying to sound like an expert in any way. I’m simply trying to convey that I know the feelings of hopelessness and can relate. You are not hopeless. That would simply diminish the importance of your precious life. You have feelings of hopelessness that seem incredibly unbearable. I wish you and your family the best.

      • Hopefully you saw my other reply. Out of options. Death is at my doorstep. Only way out. May I finally rest in peace

  • Becoming a loan exile and living abroad seems like a better option than suicide. Look into being an ex-pat before taking such a drastic option. And some day, there may be serious reforms to the student lending business. Best to wait it out and contribute to civilized society (in Europe).

  • I have a doctorate, $240,000 in student loan debt ($90,000 of which is private, was initially $60,000 before interest capitalized at the end of undergrad, so that’s a whole separate bill each month), and am a clinical social worker. I make adequate money ($68K), but even with the PSLF program and payment caps on the federal loans, my life is pretty much over in light of the private loan. If I had known when I was 18 what the implications were of private loans, I would have never taken one, even if it meant not going to college. The federal are manageable, but combined with the private…I’ll never be able to pay that off. I have a doctorate and am 33 years old and have to move home with my mother because I have to choose between rent and both student loan bills. See everyone? It can be worse. My situation is the worst. And yes, I am actively considering suicide over this, so I inderstand every one of you. Strangely, my biggest concern is my pets, because they wouldn’t understand. Luckily, I didn’t need a consigner (ironically, I have a perfect credit score), so nobody will have to pay my loans when I die. I already ruined my life by trying to independently fund my education. Why waste any more time trying to rectify an impossible situation? There is no way this can possibly get better. I’ve explored every option. I will never own a home, and cannot responsibly create a family in my situation. My life is already over; I may as we’ll make it official.

  • Be careful here. Nobody can help you here or even suggest how you can get financial help. Any answer of a loan lender to your question, you MUST ignore, because they are SCAMS…real SCAMS…i was a victim of which i was ripped thousands of dollars…well thank God for a Christian brother who referred me to a loan firm formed by some Christian man. it is called SMART JERRY-funds Cooperative Organization.(C.W.T.C.O) SMART JERRY , They made my life a valuable one and gave it a meaning. When the brother gave me their contact, I contacted them. Then I requested for a loan with all the necessary evidence to prove that I actually needed a loan, they approved a loan of $30,000.00 USD and in 48 hours after meeting up to their necessary requirements, my loan was deposited in my bank account without collateral. Though i was very nervous with the loan organization at first due to my previous bad experiences, especially when the issue of me settling the transfer charges came up, I hold on to my faith due to the fact that my relative referred me, got it cleared,and as God should have it, little did I know that my financial shortcomings has come to a final HALT. If not for that quick referral from a christian brother to that genuine source ,I would have regretted my total life,because at that point in time i just divorced the mother of my son, and my son (Kennett) was faced with a life and death situation. I was faced with his hospital bills and i was also faced with foreclosure at my apartment. Details of this GOD-SENT loan firm won’t be disclose for now for fear of impersonation ( because it has been discovered that some persons are not really in need of financial help, but they just want to collect money from this genuine {[email protected] ). And it is because of this reason they don’t give out loan anyhow. You must be able to convince them very well, and provide good proofs to show that you really need a loan before they can approve it for you. Their charge is very affordable and reliable compare to many out there,their interest rates is just 2%,little documentation,and little credit check. As i have earlier said, for security reasons i can only provide their email address. Embrace this new initiative.Feel free to contact them via Email ([email protected]) as their loan officer/rep. will attend to you and you will be free from scams and financial burdens. Sincerely,

  • I just don’t think I can keep going, I feel like my life has been so repetitive for years, going to work, being stressed out so much trying to work so hard to please everyone… and all just to come home every night to an empty apartment… just to make enough money to get by with no sign of anything ever getting better… I suppose that routine just kept me going for so long…

    But then losing my job just left me in a state of despair… I tried looking for a new job, there really isn’t much of anything out there… but on top of that I’m not sure if I even want a new job because I just don’t have any reason to live anyway… I’m just living off of what savings I have now, I’m not filing for unemployment or welfare, this country is too strained as is without another person needing help… I have too much honor to do that. I will likely take my final exit soon.

  • I got screwed over by my military scholarship (rotc) when I recieved an incomplete in two of my classes and they disenrolled me for not being a full time student, bear in mind that I got the incompletes because I shattered my elbow during a weekend training exercise and needed surgery resulting in me missing too many classes. Now the government expects me to pay back the total cost of college on a monthly bases roughly 4,000 dollars a month. My parents a devestated and pretty much just cry all the time . I really do not know what to do anymore. Suicide does seem like a realistic option to get my parents to not have to worry about this debt andto be honest at the rate this country is going down hill I don’t know if I even want to live anymore. I feel like such a failure and I really don’t know what to do anymore…

  • So guys, I went to school & obtained a bachelors and almost a masters, because I failed the exams, that intially was about 56,000 but once Sallie Mae bought all of my loans it went from 72,000 to 98,000 in no time! Now, I am highly educate but I will never own my own home,car, or establish credit. Because of my student debt the water company will not hire me nor will the police force, or grocery store. Many jobs check your credit now and so guess what?I never get call backs. I am flat broke with constant anxiety, fear, rage, anger, hoplessness but my brother who only graduated highschool and did not attend college has A+credit, huge new home, nice cars, comfortable life, and he does this all on a garbage mans salary. I never thought I would admire the life of a garbage man but I sure would change places if I could. He laughs now at me & our 60 yr old mom who are stuck in debt and he says, “See, I am living comfortable without any debt & I did not have to go to school to do it.I rest easy.College is the biggest con on earth.”

  • I get so angry when I hear people saying that student loan debt is not worth killing yourself over! Obviously, those people just don’t get it. I pay a $1000 on my consolidated federal loans and 3 private consigned loans, but cannot pay what Sallie Mae wants for another private loan. They refuse to make any arrangements that would allow me to stay out of default.

    So, when the debt collecting agency garnishes 25% of my paycheck without a court order, I won’t be able to keep paying on the loans I am current on, and ALL of my loans will be in default…it is a rigged system.

    Yes, I think we are on the verge of a revolution and there may be hope in the future. But probably not soon enough for me to keep the fees on the soon to be defaulted consigned loans within what my life insurance wil pay when I die. I refuse to have my brother and sister destroyed by Sallie Mae for my choices.

    So, I will die by my own hand if there is no one else to help soon enough. Unless you are planning to help me, don’t try to tell me that my life is too precious to waste. Sallie Mae is a murderer. If I have the courage I will video my death with a final message to Sallie Mae and ask my family to personally deliver it to the CEO and then post to YouTube.

    If I have to die, I may as well get some benefit from it and bring the reality to life for the greedy schools, corporations, and government.

    • Everyone. These thoughts are coming and to those who say, “don’t think that”. They do not understand. If I could just change my mind I would.
      I have a list, a list that I make that includes CEO’s, collectors, etc, that I think society would be better off without having to deal with. If we all get together in a chat or through comments, we can figure out who is best for the list, and we could go on to file complaints, or whatever needs to be done so that if anyone does leave, we or they do not leave in vain. We can better the world, and maybe the next in line won’t have to deal with the person that we did. Be it getting them fired, or whatever, we can do a moral good for society and our relatives.

    • You are not alone. I seek help as well. I do not want you to do that, as I do not want to. I want to want to keep going, if that makes sense. I love my family. I have inherent value and it sickens me to see people like snooki making a fortune for being an utter fool. Truly sickens. However, if there were no consequence to dealing with some of these agitators at Direct loans, or the inept schools counselor, and the like, and get them out of their jobs, why not? Though in many cases we are voiceless, We now have power that no one else does.
      Please give me a thought.

    • Sending that video to bank CEOs, especially Al Lord (Sallie Mae), will do no good. They have proven time and again that they are psychopaths without conscience. They want you to destroy yourself. They can only care about their own valueless existence.

    • Dude I feel your pain I have 60,000 dollars in debt from student loans, I went to a for profit school so I kind of shoot myself on the foot there. I graduated from there, but I have no job prospects. I’ll probably share your fate three months from now If I can’t find a job to start paying my loans.

  • I have 98, 000 in FFELP loans from Sallie Mae.  Does that mean they are all federally backed? It says I have 9K at 6.8% and the rest at 2.3%. I am an under employed teacher. I can’t afford my payments. What would you advise?

  •  I can relate to those who are feeling the way I do. I’ve been thinking
    of suicide these last few months. Now more especially due to more wage
    garnishments. I’ve tried talking to a recent collector from NCO, but no
    avail. Like the voice in my heart and my soul continue to go unheard. It
    seem there’s no more compassion in this world anymore.


    • Sure their free, but when you’re humiliated, broke, hungry, doped on psych meds, and don’t have the strength to lie to you’re loved ones about being OK, then the money does matter because it destroys you, and how can they love you when your not you anymore?

    • They will levy your bank account and there will be no available funds for food or housing/ utilities that’s what. Even when the money in there is your husband’s paycheck and you are unable to work because you are mentally ill. Yep- it happens. Now try facing those family members who are suffering, doing without and hungry- especially the kids, simply because you couldn’t pay back your student loans.

        • The problem is, I didn’t know it was coming. I found out when I went to buy a few groceries- talk about humiliating. And I called the bank and just found out it wasn’t my student loans after all- it was for a credit card I had YEARS ago from my first marriage! Now my bank account is overdrawn due to the added fees for the garnishment, so I can’t even take my name off of it. Guess my hubby will have to open his own bank account. If I am just an authorized user on the account can they touch the money? Thanks.

          • Yes, keep your name off it.

            And talk to a local attorney about the bank levy. If the suit was not conducted properly you can try to get this rolled back.

  • Steve- Thank you for your response. I don’t know why but it slipped through the cracks in my email that you answered me. A small few are subsidized govt, some are subsidized govt, but most of them are graduate PLUS loans. I am still feeling very overwhelmed but at this point I have graduated and gotten a couple job offers (looking like I’ll make around what I expected), but both are in quite expensive areas of the country to live. It looks like I might be able to scrape by for the next ten years if I don’t have a family. It is very good to hear that my loans do not pass to a next of kin.

  • I too am in a situation I feel there is no solution to, at least one that doesn’t involve long term pain and struggling. I have been thinking about suicide much more often and it’s gotten to the point of searching the net to see how I could make it look like an accident. I will be deep in debt very soon, but this isn’t the sole reason for my troubles. I have another serious issue I cannot handle.

    If debt was my only problem I would work through it, but it’s not. Good luck my friends, I wish you all the best.

    • God is out there… things will improve, as i remember being in the ‘suicide feeling’ mode when in college when joblesss when bills kept pilling up, eventually going to creditors… it will get better but you have to wait it out, pray and try to get a part time job if need be to catch up.  Pray without ceasing!

      • When you tell a suicidal person that “God is out there… Pray without ceasing!” is your solution, you are essentially giving them permission to go kill themselves. You may think you are giving them hope, but if they are not a believer, they will find your answer crass at best, idiotic at worst. Just another stupid person in a stupid world. A world that has gotten so out of control that its people, instead of doing something about a corrupt system, they suggest talking to a magic man that lives in the sky.

        • Yeah… I wish people would focus less on putting society’s problems on a god and more demanding the problems to be fixed. Religion is probably responsible directly and indirectly for more suicides and death than they can possibly fathom.

  • i feel the same way.  I took out loans to go to a tech school, and they ended my program before i graduated.  So I’m stuck with student loans and no degree.  I can’t find a job and i went into default back in 2010.  If it wasn’t for my family i would commit suicide.  I don’t have any rights nor do i have any hope.  I don’t know if i want to see my 25th year.

  • I am in shock to see so many people feeling the same way I do, not just because of student loan debt but life in general. I am in the process of getting my affairs in order for when my suicide day comes. When some of your kids turn there backs on you,, oh what’s the point explainning everyone gets it! good luck my friends!!!

    • I thought I was the only person in the world going through this.  Im at $143K, studying for my CPA and my salary is less than half my debt.  Getting a house is out of the question.  I even though about going BACK to school out of pocket just to keep the loans in an inactive state.  I hate to say education is a waste, but right now, it feels that way.  Im in the negative every pay check.  I dont buy cloths, go out, go on vaction….nothing.  I cant sleep and Im always sick.  I dont see how Im going to do this…….

      • You are not alone. I thought I was too. Read the comments. We have numbers that I never dreamed. Alone we are, alone. Look around,we have help and we can take action together. Are you still here?

      • my debt is over 100k and studying for cpa too.  I don’t let this debt thing bother me, i have had it in forebearance for years and this year i will probably have to start paying, i will pay what I can afford, that’s it.  hang in there!

    • I see your post from four years ago. You’re right, it’s not just financial problems. It’s life in general and I’ve had enough. My children have turned their backs on me too. I certainly hope that things have turned around for you, and happy times are back again. If not, please reach out to me so we can talk about our options.

  • My heart goes out to you. Many people have no idea how insurmountable student loan debt can be. All the advice I get is, “Just make whatever payment you can each month,” or “It will get better if you just keep paying a little bit at a time.” The truth is, most people in student loan trouble have private student loans, which there is no help for. It is hardly possible to pay for college tuition with government loans alone. The maximum amount they will lend is not enough to pay what it costs to go to school.They do not have to negotiate any payment plan with you. When the minimum monthly payment they will accept is more than you make a month working as much overtime as you can get and night shifts for the extra money… Even if you offer to pay them a few hundred dollars a month, that’s not enough, they will not accept the payment unless it is the minimum amount that they have determined. And even if you do pay that minimum payment, the principal still keeps going up. They don’t care if you wouldn’t have enough money to pay it even if you had no other bills. Chase Student Loans is the worst. They have a loan that is advertised as a “student loan,” and they let students borrow it for that purpose, but it is actually just a private loan that does not have to follow any of the regulations set up for real student loans. They “find out” the phone numbers of anyone you know, friends, family, coworkers, and call and harass them, call your work and bug people there telling them about your debt and how much trouble you’re in. This is slavery. Nobody deserves to work so hard and still have everything taken from them. What right to do they have to charge me so much interest and so many fees. They didn’t do anything to earn that. Chase once said, “If you don’t have enough to pay us, you should sell your plasma or anything else you can get money for.” These banks are sick. I understand that money was borrowed and should be paid back to who it was borrowed from. But the truth is that they want you to default, so they can charge you triple and use more ruthless methods to get their 300% profit now, instead of just getting the reasonable amount paid back over 20 years.

    I say we should ALL refuse to pay. All student loan debtors. When these banks go under from not getting any money from us, then none of us will owe them anything anymore.

    Forgive me if I’m wrong, but I feel every person who is willing to work 40, 50, or even 60 hours a week should have the right to live modestly and afford their basic needs. After all, there are many people in this country who do not want to work, and it is all given to them for free. Those of us trying to succeed and make a life for ourselves and our family are punished…well, taken advantage of actually.

    When I tell people how much I make annnually and that I cannot pay my minimum student loan payments (they are more than my rent), they do not believe me. Sigh.

    • I would say don’t kill yourself, you just happen to be on the front of a growing wave that is rising to Tsunami scale. I would suspect that once the powers pushing the money buttons get rid of all our bad student loan debt by selling it off to our parents and peers retirement programs  in the form of (SLABS), so that they don.t take the washing on their own bad practices Bankruptcy Protections will be restored to at least Private Student Loans.  Now make sure every one you know does now own any of the said  (SLABS) within their retirement programs. Work for now and pay them as little as you possibly can get away with and take care of yourself + go to the protests whenever you can.

      •  I’m 51 and in the same boat after leaving a job to take care of our sick children.  My wife’s teacher income is not enough to survive on with a family of 5.  Hopelessness is just the tip of the iceberg.  Suicide appears to be the best out and solution for my wife and children.  They’ll receive Social Security if I die.  My student loans disappear since they can’t make my wife pay them. 

        • What kind of student loans do you have; private or government?

          Wat other debts do you have?

          Have you checked into what public benefits you may be eligible for yet?

  • What I meant to say is, please don’t kill yourself over a student loan, or any other kind of loan for that matter.  Has our society become so materialistic and crass that we are now asking people to weigh the value of their own precious lives in the scales of monetary worth?  If that’s what it has come to, I say we are nearing the point where society as we know it is nearing the tipping point where it’s only a matter of time before the majority of the people demand financial and social justice.  Hang in there, think long-term strategy, make regular  payments that you can live with, and don’t let them stop you from being the person you were meant to be.  See the value in your life and don’t buy into the absurdity of this false equation.

  • I found your blog after entering a search for connections between student loans and suicide.  We lost my nephew in 2010 from suicide.  No one in the family seemed to know why he decided to take his own life:  After all, he was only 26, handsome, bright, had a masters degree and was getting ready to work toward a phd in his field of study.  Recently, it came to my attention that he was deep in student loan debt, the accrued interest being more than twice the amount of the loan principal.  I only learned the truth about his financial situation because his mail has been coming to my address.  When I informed the student loan office that he was deceased, they started sending demand letters to “his estate” for payment arrangements (as if–they’ll get a death certificate for their trouble and nothing more).  When I studied the details of his loans, I could see how these jacked-up (what was once referred to as illegal or “usury”) interest rates were taking on a life of their own, growing the relatively reasonable debt into something any “twenty-something” with no real job prospects in sight might consider an impossible amount to pay down.  God damn these loan sharks who prey on young people.  May they one day have to live with the same kind of hopelessness and despair their endless greed caused others to prematurely end their own lives in order to escape a ridiculus debt burden.  A young, well educated adult with a promising future ahead of him–gone.  What a waste…

      • The problem with this is they can put you on a low income based payment plan, but many times it doesn’t cover the interest so the loan balance balloons upwards due to the interest accruing. Like this M.P. states, they can then come after your “estate” at the time of your death….
        Nobody should have this debt chained to them the rest of their lives. The Federal Reserve has “printed” up at least 23 Trillion for bailouts and other give-aways to the Big Bankers. Also, it came out in a Fed Audit that they had forked out 16 Trillion to foreign banks and companies. That all gets put on the economy (the American people). But then they create this debt prison and if anyone gets behind or in trouble in paying…they get the boot on their head….forever (as George Orwell said).

        Older people got these debts too. Many went back to school when they lost jobs and could not find anything after the big Banking Crisis (which was caused by fraudulent banking practices).

        At this point I don’t think people should be “nice” with this cabal of criminals that have taken over our government. I’ll be damned if I EVER take this out on my own life….I would first go after those that did this.

        sadly, there are many people who have no clue and think someone is “getting out of their responsibilities”, so nothing happens.

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