Who pays my loan if I die?

@jaylin.bartell 

If you have taken out a loan and you pass away, then it typically depends on the type of loan and the terms and conditions associated with it. Here are a few scenarios:

1. Personal loans: In the event of your death, personal loans are generally not forgiven. The responsibility for repayment would usually fall on your estate, which includes any assets or property that you leave behind. If the estate is insufficient to cover the outstanding loan balance, then the debt may be written off by the lender.
2. Mortgages: If you have a mortgage when you die, the responsibility for repayment typically falls on your estate. If you have life insurance with a sufficient death benefit, it may be used to pay off the mortgage. Additionally, if you had joint ownership of the property with a spouse or another person, they may assume the mortgage or continue making payments.
3. Student loans: Federal student loans are generally discharged upon the borrower's death, which means they do not pass to your estate or any co-signers. Private student loans, on the other hand, vary by lender and may or may not offer similar discharge provisions upon death.

It's important to note that individuals should thoroughly review the terms and conditions of their loans and speak with relevant financial professionals to understand their specific obligations and any potential exceptions or provisions in the event of their death.