A relative of mine has suffered from some major health problems recently. Doctors haven't been able to give us a prognosis yet, so I do not know if it will cause a permanent disability. Tissue in the brain has been damaged, and they say it will just take a lot time to see if it will heal and if there will be any permanent deficits.
I have been trying to help out with making sure bills are taken care of. I am concerned about their private student loans. I know there is a co-signer who would be placed under extreme burden if they are held accountable for the loans. I know with federally backed student loans, there is a process to get loan forgiveness in the case of permanent disability. I tried looking it up for the private loans through Chase Bank, and haven't been able to find a straight answer. Does anybody have any experience with this? I'm guessing it is probably a case by case basis but I'm just wondering if they offer any kind of debt forgiveness or if it just goes straight to the co-signer.