Is a spouse responsible for a student loan her?

Maegan Predovic asked a question: Is a spouse responsible for a student loan her?
Asked By: Maegan Predovic
Date created: Wed, Jul 7, 2021 7:02 AM

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Top best answers to the question «Is a spouse responsible for a student loan her»

  • A spouse is typically not responsible for student loan debt incurred before marriage. And that's usually true even if they live in community property states. (More on that below.) Both federal student loan debt and private student loan debt usually remain the borrower's sole responsibility if the student loans were incurred before marriage.

FAQ

Those who are looking for an answer to the question «Is a spouse responsible for a student loan her?» often ask the following questions:

✔️ Is spouse responsible for student loan repayment when spouse dies?

If your spouse’s name is the only name on a student loan, and you did not cosign the loan, generally you have no obligation to repay the debt after your spouse dies. The main exception is if you live in a community property state (Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington and Wisconsin) and the loan was borrowed after the marriage but before death or divorce.

✔️ Is a spouse responsible for student loan debt?

Debt you bring into a marriage typically remains your own, but loans taken out while married can be subject to state property rules in divorce. And if one spouse co-signs the other's private student loan, he or she is legally bound to the loan unless you can obtain a co-signer release from the lender.

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✔️ Am i responsible for ex spouse federal student loan?

Generally, debts that you incurred prior to marriage will be your responsibility after a marriage as well, and the same is true for your spouse. This is generally the case even if you were living together when they took out the loans (but not yet married) or if you helped cover payments during marriage.

Question from categories: loan debt loan forgiveness loan repayment loan consolidation

8 other answers

Is your spouse responsible for student loans incurred before marriage? No. It’s a different story, however, if you cosigned for your spouse’s student loans before the marriage. If you’re a cosigner, you’re legally responsible for the debt if the borrower stops repaying the loan, which can make you subject to: Collection efforts; Lawsuits; Judgments

First, one spouse isn’t liable for the other spouse’s loans taken out during college. For example, if the husband took out Federal student loans to pay for school, his wife isn’t responsible for the debt, even if they are married. So, if the spouse with student loans dies, the surviving spouse doesn’t have to pay them back.

As far as repaying the debt goes, the lender only cares about who actually borrowed the money. It will be her and her son's responsibility to pay, not yours, and it will be HER credit on the line. As far as whether or not it's considered marital debt, that depends on whether or not you live in a community property state.

Debt you bring into a marriage typically remains your own, but loans taken out while married can be subject to state property rules in divorce. And if one spouse co-signs the other’s private...

A Spouse’s Student Loans Generally, a living spouse will not be held legally responsible for repaying student loans that belonged to the deceased spouse. However, there are some exceptions, such as when the spouse has co-signed the loan.

The main exception is if you live in a community property state (Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington and Wisconsin) and the loan was borrowed after the marriage but before death or divorce. Federal student loans are discharged upon the death of the borrower.

Hello crvmon, If she defaults, your husband will be responsible. The cosigner of a loan agrees to be responsible for a loan's repayment if the borrower defaults on the payments. The cosigner of a loan agrees to be responsible for a loan's repayment if the borrower defaults on the payments.

While nothing is as certain as death and taxes, dealing with student loans after someone dies is not as clear-cut. Whether a spouse has to pay off a spouse's student loans depends on whether he was a cosigner and where he lives. Additionally, he may incur a tax liability even if he doesn't have to pay off the loans.

Your Answer

We've handpicked 21 related questions for you, similar to «Is a spouse responsible for a student loan her?» so you can surely find the answer!

Is a spouse responsible for student loan debt after death?

Am I responsible for my spouse’s student loan debt after death? Again, it depends. No. Federal student loans are discharged if a borrower dies, while federal PLUS loans are discharged if the parent borrower or student dies. Yes and no. If you cosigned on a private loan with your spouse and they died, you may have to continue making loan payments.

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Is a surviving spouse responsible for student loan debt cancellation?

If your spouse’s student loan debt was taken out in their name, you can’t claim to be the one responsible for it. In 2009, Elizabeth and James Garner made the decision to divorce. Garner, who is a business attorney, has over $300,000 in outstanding student loans.

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Is my spouse responsible for my student loan debt amount?

Am I responsible for my spouse’s student loan debt after death? Again, it depends. No. Federal student loans are discharged if a borrower dies, while federal PLUS loans are discharged if the parent borrower or student dies. Yes and no. If you cosigned on a private loan with your spouse and they died, you may have to continue making loan payments.

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Is my spouse responsible for my student loan debt articles?

Typically, you aren’t responsible for your spouse’s student loans. However, there are some situations where you may be on the hook for them. There also may be better repayment options available to make paying off student debt easier on you both — like spouse student loan refinancing, for example. So let’s dive deeper into student loans ...

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Is my spouse responsible for my student loan debt cancellation?

No. Student debt that you bring into a marriage remains your debt. Let’s say you have $30,000 in federal student loans and $40,000 in private student loans when you get married. Your spouse might help pay down your debt, but you’re the only one legally responsible.

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Is spouse responsible for student loan debt incurred before marriage?

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A spouse is typically not responsible for student loan debt incurred before marriage. And that's usually true even if they live in community property states… FYI: The federal government allowed married couples to apply for a joint consolidation loan to get into an affordable repayment plan.

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Is a spouse responsible for personal loan of other spouse?

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Whichever spouse's name is on the account is generally held responsible for repaying it. Put another way, the spouse whose name isn't on the debt is protected from having to cover it. Joint debt may be incurred during marriage in a common-law state if both spouses apply for a loan or credit together.

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Is surviving spouse responsible for auto loan of deceased spouse?

This is not legal advice and should not be considered as such. Laws vary considerably from state to state and country to country, so consult with an attorney (many attorneys offer free consultations) who is legally entitled to practice in your area. That said, generally: Usually not. Most auto loans require an attached life insurance policy. The life insurance policy attached to it should have paid the auto loan balance immediately and paid any remaing insurance (usually none) to the listed next of kin. If their was no life insurance attached to the loan, then probably yes, the surviving spouse and/or estate of the deceased might be held responsible for the loan.

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Is spouse responsible for parent plus loan?

The parent who borrowed the Parent Plus Loan is responsible for the loan in the event of divorce. The family court judge can order one spouse to be responsible for making the monthly payments… That spouse remains liable to repay the loan.

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Is future spouse responsible for my student loans?

No, it does not morph into a marital obligation.

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Is spouse responsible for federal student loans coronavirus?

Take note: Under the CARES Act, enacted by Congress in response to the 2020 Coronavirus/COVID-19 pandemic, the majority of federally backed student loans have been automatically placed on a temporary forbearance from March 13, 2020 to September 30, 2020. Borrowers with loans that qualify may still make payments on what they owe if they so choose.

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Is a cosigner spouse responsible for the loan?

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The major hitch of cosigning a loan is that a cosigner is potentially taking full responsibility for the debt, but actually has no legal claim to the assets… Couples should also know that the co-signer on any loan or credit agreement is not legally required to be your spouse.

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Is my spouse responsible for my personal loan?

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They're jointly owed.

If you cosigned a loan with your spouse or you're listed as a joint account holder on a credit card, then legally, you're equally responsible for the debt. In that case, the death of your spouse wouldn't eliminate your obligation to pay any remaining balance on the debt.

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When is a spouse responsible for loan debt?

Any joint debts you have will be treated by the lender as “jointly and severally liable”. Unfortunately, that means that if one of you can’t pay for any reason – including accident, sickness, abandonment or even death – the other partner will be responsible for the entire debt.

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Is a surviving spouse responsible for student loan debt and mortgage qualification?

Marrying someone with student loan debt won’t make you liable for their loans. No. Student debt that you bring into a marriage remains your debt. Let’s say you have $30,000 in federal student loans and $40,000 in private student loans when you get married.

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Is my spouse responsible for my student loan debt and mortgage qualification?

Is your spouse responsible for student loans incurred before marriage? No. It’s a different story, however, if you cosigned for your spouse’s student loans before …

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Is a spouse responsible for student loans after death?

Generally, a living spouse will not be held legally responsible for repaying student loans that belonged to the deceased spouse… A spouse might also be required to repay a deceased partner's private student loans if they reside in a community property state.

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Is my spouse responsible for my federal student loans?

Am I responsible for my spouse’s student loan debt after death? Again, it depends. No. Federal student loans are discharged if a borrower dies, while federal PLUS loans are discharged if the parent borrower or student dies. Yes and no. If you cosigned on a private loan with your spouse and they died, you may have to continue making loan payments.

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Is spouse responsible for federal student loans and covid?

Depending on what you decide as a couple, you may still choose to take on some responsibility for paying off debt, but this is unlikely to be legally binding. On the other hand, if you’re married and the student loans were taken out after your wedding, the liability may change slightly depending on where you live.

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Is spouse responsible for student loans incurred before marriage?

A spouse is typically not responsible for student loan debt incurred before marriage. And that's usually true even if they live in community property states… FYI: The federal government allowed married couples to apply for a joint consolidation loan to get into an affordable repayment plan.

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Is my spouse responsible for my student loan debt affect buying a house?

Is your spouse responsible for student loans incurred before marriage? No. It’s a different story, however, if you cosigned for your spouse’s student loans before the marriage. If you’re a cosigner, you’re legally responsible for the debt if the borrower stops repaying the loan, which can make you subject to: Collection efforts; Lawsuits; Judgments

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