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My sister-in-law has decided she wants to take part time college classes so she doesn't have to make payments on her private student loan and her plan is to do this until she dies.

She graduated from college about 9 years ago so you can imagine what's she's racked up in interest and my father-in-law (her cosigner) is starting to get very nervous.

At what point will the private student loan holder stop putting up with this and make her make payments regardless of her taking 6 credit hours? I've tried googling this and so far come up with nothing.

Ben Miller
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Erica Grant
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2 Answers2

50

You mentioned that this is a private student loan, not a federal loan. There are no standard terms for private loans like there are for federal loans. To find out the deferral rules, you would need to read the terms of the loan.

Your father-in-law, as co-signer, should have access to these terms.

Ben Miller
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35

Money interactions/discussions often draw a lot of emotions out of people and this is often complicated by in-law relationships.

The best advice one can give you is to stay out of this conversation. This is a financial transaction between father and daughter and your involvement will never been seen as positive by either party.

In some cases it is best to remain blissfully ignorant and silent.

In the end your FIL co-signed for 100K in student loan debt. That was stupid.
He took responsibility for paying back that loan when he co-signed. Despite your SIL's behavior being abhorrent, your FIL knew on some level that she was likely never to repay.

You can't say any of that. So for your marriage's sake remain silent.

Pete B.
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