I wanted to gather the group's collective wisdom on a student loan question. Quick background: physician with ~250k of loans, split between Sallie Mae (3.5%) and DRB (2.87% variable), both solely in my name. I am applying for a new refinance option with First Republic Bank. However, due to my loan burden, I am not eligible to refinance on my income alone. My wife, who has a good income, would have to cosign with me on the loans. She's a little put off with that idea in case something would happen to me (untimely death). My belief is that regardless of whether she cosigned or not, all of the three loan companies would get paid back either via my life insurance policy or by them liquidating my retirement accounts if I were to drop dead. Am I way off on this? Would cosigning for that loan be a big deal?
Thanks!
Thanks!
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