It may be morbid to think about, but your cosigner would be on the hook for your loans if you died unexpectedly
with your child or another loved one, you are accepting equal responsibility to pay off that loan. While most people go into a cosigner relationship with the best of intentions, things don't always go as planned.
Because of the major liabilities involved, few people are willing to cosign student loans outside of a parent or a spouse. This type of connection is usually lifelong and already intertwines your finances. But what happens if the student dies? . Because the monthly cost of term life insurance is locked in when the policy starts, a young person could save a lot by getting life insurance during college. While a family and kids may seem a long way off, getting long-term, high-value life insurance early is often a wise decision., but getting a policy for your child in college could be a great gift for them and a prudent protection for your finances.
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