There are some things in life that you wish you could take with you when you die, and then there are those things you will be happy to leave behind. One of the things you probably will not be sad to say goodbye to is your student loan debt. However, you may worry that your death will transfer that liability to your loved ones in Pennsylvania. This is a valid concern since it seems many of us will have student loan debt following us into our golden years.

According to ABC News, it is most likely that when you die, your student loan debt will go away. To begin with, the law makes it impossible for the lenders to go after your loved ones for the money unless one f them was a co-signer. If you have a co-signer, that person very well could become liable. Also, if you have loans from private lenders as opposed to federal education loans, these lenders may try to go after your estate to recoup the debt.

Federal education loans are set up to discharge the loan upon the death of the borrower. So, you will not really need to do anything with them in your estate plan. Private loans, though, may require setting up a death discharge protection plan where the debts are discarded upon your death. This can save your estate from being drained to pay back student loans upon your death. This information is for educational use only. It is not legal advice.