CNBC recently reported that students may have to pay private loans in full or have them set to default if their cosigner files for bankruptcy or dies.
According to the vice president of enrollment management, Dr. Alyssa McCloud, loans distributed from Seton Hall are not private loans so this dilemma will not affect the University’s students.
“This will not impact many students as Seton Hall is not a lender of private loans,” McCloud said. “Few if any students at SHU will be impacted.”
The CNBC article also stated that loans can be defaulted automatically by loaners without notice to borrowers.
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