Student Loan Co-signers have no rights

When the borrower defaults on a student loan, the co-signers are not notified and have no idea it is in default. When the co-signer tries to find out from the guarantor, it is impossible to find any information. On a recent credit report, I noticed the two consigned student loans, so I tried to contact the guarantor. When I contacted each of these divisions, they would direct me back and forth from one to the other. This basically left me frustrated in finding the account and who was holding the note. I would like to state that; the guarantor's never sent me notification that these accounts where "bad debit" or in default. Neither of the student loan banks could tell me where the account was located for payment or payoff amount. I had been pursuing the holder of these cosigned student loan for two years, with no luck in locating these loans that we had cosigned. We as the cosigners where never notified on the transferring of these accounts to other banks for payment by the borrower. I feel this is "bad" business practice for banks to practice, especially when the cosigners of student loans are not informed in a timely manner when the account is going into default. Formal Notification is critical for the cosigners by mail with an explanation of what will happen if the cosigner does not make arrangements. Informing the cosigner is just as critical as informing the borrower. Once the loan is in default it goes to muliply collection agency all trying to collect the debit. The cosigner could make the mistake of paying off the loan more than once to these collection agency, because the guarantor will not answer any collection account questions for the cosigner. The banks don't even know where the defaulted accounts go for collections. It is apparent the banks don't want the cosigner to know about the accounts and whom to pay if necessary. Suggest no one cosign any student loans, just borrow from a loan shark, because these are what student loan are basically.