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While there are many reasons for not co-signing a loan, here's one that I hope none of us ever has to face. Recently, a friend's daughter died in a car accident and she had several student loans. Fortunately, none of the loans were co-signed, so they are in the process of being written off. Had they been co-signed, our friend would have then become responsible for paying the loans off. Also, we found out that you should not acknowledge any correspondence from the student loan agencies, since it might cause them to inquire further about payment.

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