What happens to student loans when you divorce?
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What happens to student loans when you divorce?
Legally, any student loan debt you incurred before getting married is considered separate property and remains so after the divorce (with the exception of a prenup stating otherwise). So if you borrowed $70,000 to attend law school before marrying your spouse, that debt is yours.
Who pays student loans in divorce?
Student loans and parent loans borrowed during a marriage are considered to be the joint responsibility of the spouses if they lived in a community property state. Student loans and parent loans borrowed before a marriage or after legal separation or divorce remain the separate responsibility of the borrower.
Are Student Loans considered marital debt?
Even if youror your spouse’sstudent loans are considered marital debt, that doesn’t necessarily mean that the other party will be liable for them in the event of a divorce. In a community property state, marital assets and debts are split 50-50 between the parties when they divorce.
How can I save my marriage during separation?
12 Steps to Rekindle a Marriage After SeparationTake it slowly.Control your anger and blaming.Create healthy boundaries.Identify and work on root issues.Start with occasional dates.Look to the future.Be very honest with yourself right from the beginning.Prioritize your relationship.
