₦airaland Forum

If a borrower dies, their federal student loans are discharged after the required proof of death is submitted. The borrower's estate or family is not responsible for repaying the loans.

helinues:
What inspired your question?

Most people are not ready to pay back like the OP, they are already thinking on how to waive the loan away.

The government is aware that is definitely what will happen. They are not expecting you to take the loan and live.

Your estate but if you have no estate it’s considered a bad debt. But you better be dead ☠️

helinues:
What inspired your question?

He is preparing to collect loan and die

SunShowAfrica:
At the point of exiting the earth plane, the Great Guard will question if you have any DEBT on earth...and how much you have to pay to pass into the next stage.

If you said yes you are OWNING or don't have money, Onibode will tell you to clear your debt before you pass. (that is why kings are buried with live humans and precious stones and money)
You will have to work your soul extra hard to pay the debt before you are allowed to pass into the next stage.

... But if naa all these Nigerian loan sharks wey you dey owe metchewwee just carry on into Afterlife because Devil sef go understand

😂 😂 😂
So money shark loan no be loan

wunmi590:


With my little knowledge of underwriting during my days in the banking system then, the loan will be written off..

Is going to be a bad debt for FG, but in a situation where by it a working person that was given the loan, the person's pension will be used to offset the remaining of the loan, that's if the person has upto the balance as pension, if not they take what they have and write the remaining off...

Other people with more knowledge can contribute

Insurance will pay. Credit life insurance would have been done before granting him the loan.

You will not die. Government will hire fake bishops to be praying for you

Govt no dey loose, na your share be that. But are you too negetive about your life lad?

If you are thinking of death, know it now that you are not going anywhere, you must pay the loan back.

helinues:
What inspired your question?

Bad governance sir

[quote author= post=131469909]If you have federal student loans and pass away, your family can apply for loan discharge due to death and have the remaining balance forgiven.

Most federal student loans are discharged upon the death of the student. [/quote]No balance will be forgiven, where is that done? Most likely you will provide guarantors while applying for the loan. Those guarantors will be responsible for default through death.

Karleb:
If you collect this loan and you pay back then you are a mugu raised to power 10.

See person wey dey always condemn government. U think u can scape through without paying that money. U don't know the work of BVN.

Try it or tell anyone around you to try not to pay the loan, when d time is due.

[quote author=Domainer1999 post=131465669][/quote]Nor repentance once you die. It was stated in the document they released as regards the loan

All contracts are determined upon death of any of the parties.
Just like any other credit facility, it will be written off, except the loan is for an investment that is yielding income without your input(being), then the investment can offset the loan.
Btw, everyone won't die, but some will definitely do, some sef won't die but are not also living, so those ones sef na bad debt

Wembadima01:
Omo this one na format o collect loan, fake death

wereyyyyyy

nedekid:
No balance will be forgiven, where is that done? Most likely you will provide guarantors while applying for the loan. Those guarantors will be responsible for default through death.

Guarantee option has been removed, the certificate you are getting is now the collateral

Hopez456:
Insurance will pay. Credit life insurance would have been done before granting him the loan.

Oh, you are right, I totally forgot insurance fee would have been deducted before disbursement..

Thank you..

[quote author=Domainer1999 post=131465669][/quote]are u planning to die, anyways ur deady body will be used in a science lab as payment of the loan

You wan die?

jamafa:
See person wey dey always condemn government. U think u can scape through without paying that money. U don't know the work of BVN.

Try it or tell anyone around you to try not to pay the loan, when d time is due.

I always condemn the government because they don't know what they are doing.

The money the are borrowing you is your money. Did any government have any personal money in Nigeria bank account? No! It's our collective money they are spending.

If market women did not pay back their tradermoni, then graduates should be smart enough to evade whatever measure they have in place to take their money back.

If you voluntarily pay the loan back, then be mumu!

This student loan is the biggest mistake any Nigerian student or prospective Nigerian student will make

[quote author=Domainer1999 post=131465669][/quote]Loans are supposed to be insured. Insurance will pay in this instance else it will be written off as bad loan.

[quote author=Domainer1999 post=131465669][/quote]When u die, ur loan dies with you. Simple

The insurance company that insured the loan

Nigerians always looking foe short cut. They like everything to be free. They gave you loan and tou don't want to pay. You will still be the first one to balmw the govt

Bad debt

OlujobaSamuel:
Guarantee option has been removed, the certificate you are getting is now the collateral

Exactly, I remember an American returnee aunt that got a post nysc fgn loan way back in the 80s. Her certificates was her collateral. She opened a saloon close to tejuosho market. She did not pay back. Till date, I do not think she was able to retrieve her American documents. It affected her working life.

they called the debt turning bad. thats bad debt,

nedekid:
Exactly, I remember an American returnee aunt that got a post nysc fgn loan way back in the 80s. Her certificates was her collateral. She opened a saloon close to tejuosho market. She did not pay back. Till date, I do not think she was able to retrieve her American documents. It affected her working life.

Seriously, how can she be so cruel to herself, I'm so sure the interest will be a single digit, she should have paid and free herself from the burden

[quote author=Domainer1999 post=131465669][/quote]Your grave.
If you are convicted in a court after death. They will put handcuffs on your grave for the jail term.

So, I believe your grave would be responsible.

Which language do they speak? Or na yoruba?Coz onibode na yoruba lang.