What to do if my late grandmother co-signed on student loans for my sister and I years ago?

UPDATED: Feb 3, 2014

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What to do if my late grandmother co-signed on student loans for my sister and I years ago?

We didn’t realize until she passed that would put her equally responsible for the loan. Now grandmother has passed away and my aunts want us to pay the loan company $10,000 to have my grandmother’s name removed from the loan. Shouldn’t this be settled by the estate? My sister and I have always been current with our loan payments and the only thing that caused the loan company to call for the loan was grandmother’s passing.

Asked on February 3, 2014 under Estate Planning, West Virginia


FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

So long as you keep the loan current there should be no issue as to needing to pay the loan off to have the deceased grandmother's name removed from the loan. Possibly you could refinance the loan to keep peace in the family as an option.

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