Wells Fargo Will Forgive Student Loans Upon Death

Wells Fargo will now forgive student loans upon the event of a beneficiary's death or incapacitation, Dow Jones reports.

In previous cases, the co-signer of a student beneficiary would have to continue paying the loan even on the occasion of death or disability of the student.

Earlier this month, Sen. Frank Lautenberg (D-NJ) introduced the Christopher Bryski Student Loan Protection Act to require lenders to clarify the stipulations of loan repayment in the event of death.

The act was named for Christopher Bryski, a Rutgers student who eventually died after being permanently disabled in an accident. His family continues to pay his $44,500 student loan debt.

Comments

[onwisconsin]

10:04 PM on 12/18/2010

How nice.

Talk about predation in the policy before this.

[Gabby123]

01:05 PM on 12/18/2010

Gosh. How gracious of them. **Rolls Eyes**

[Xylem44]

08:46 AM on 12/18/2010

Wait, that's not a given?

[kKirstenc]

01:59 AM on 12/18/2010

Whew! That's something to look forward to!

[SilentSolidarity]

04:52 PM on 12/17/2010

Oh, wow. Thank you. You guys are so good to us. PUNKS.

I'm glad that the Reconciliation bill will ban banks from issuing sutdent loans. From now on, you can get loans directly from the government which is not profit-driven and has a lot of patience.

[noob1]

03:48 PM on 12/17/2010

wow, thanks?

[phishphan]

12:29 PM on 12/17/2010

Wells Fargo is the Devil.

[ZenSufi]

02:59 PM on 12/20/2010

Isn't that special.

[BlueFloyd]

09:26 AM on 02/08/2011

seems like a valid opinion to me, tho, if literal, it's a bit creepy.