Is a spouse responsible for student loans?

Rod Welch asked a question: Is a spouse responsible for student loans?
Asked By: Rod Welch
Date created: Wed, May 5, 2021 10:43 AM

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

When a married couple borrows student loans, the loans are considered to be the joint responsibility of the spouses if they lived in a community property state. When you borrow student loans before a marriage or after legal separation or divorce, they remain the borrower's responsibility.

FAQ

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

✔️ Is spouse responsible for federal student loans?

If you cosigned on your spouse's student loans at any time, whether they're federal loans, private loans, or refinanced loans, that means you are legally liable for those student loans… If your spouse dies or is otherwise unable to pay back their loans, the lender will look to you to pay them back.

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✔️ Is future spouse responsible for my student loans?

No, it does not morph into a marital obligation.

✔️ 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.

9 other answers

Most future spouses won’t be responsible for their partner’s student loans, but it’ll depend on when the debt was acquired and other factors. Before getting married, it’s best to know who is liable for student loan debt since the answer can be surprisingly complicated at times. Am I responsible for my spouse’s student loan debt?

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.

If your spouse takes out a student loan during your marriage, but can't make payments and defaults, creditors in some states can go after both of your wages and assets — or, if you file jointly,...

When a married couple borrows student loans, the loans are considered to be the joint responsibility of the spouses if they lived in a community property state. When you borrow student loans before a marriage or after legal separation or divorce, they remain the borrower’s responsibility.

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.

Whether you’re responsible for student loans your spouse took out after you got married is dependent on where you live. In most states, debt taken out during the marriage is the responsibility only...

If you and your spouse co-sign on student loans together, either before or after marriage, you're both considered equally responsible for the resulting debt. That includes new loans used to pay for...

Neither you nor your spouse is liable for any student loan debt the other accrued before you got married unless you happened to co-sign for it. If one of you takes out a new loan after being...

You each take responsibility for your own student loans and make the payments. However, if one spouse has more student loan debt than the other, the couple and their legal counsel will have to come to an agreement for dividing up the debts and assets in an attempt to balance.

Your Answer

We've handpicked 24 related questions for you, similar to «Is a spouse responsible for student loans?» so you can surely find the answer!

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.

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Is a surviving spouse responsible for student loan debt?

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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 student loan debt?

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If you cosigned on your spouse's student loans at any time, whether they're federal loans, private loans, or refinanced loans, that means you are legally liable for those student loans… If your spouse dies or is otherwise unable to pay back their loans, the lender will look to you to pay them back.

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Is your spouse responsible for your student loan debt?

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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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Do student loans affect spouse?

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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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Does spouse take student loans?

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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 account?

It is frustrating to think you may be liable for debt you didn’t incur, such as your ex-spouse’s student loans. The average student loan debt per graduate is $37,172 in 2019, according to Nitro College. If your spouse went to medical, law, or graduate school, they probably owe much more.

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Am i responsible for ex spouse federal student loan login?

No. Federal student loans don’t require cosigners. (A spouse can cosign on a partner’s income-driven repayment application, but you’re not obligated to repay the loan.) No and yes. Your ex-spouse will remain solely liable for their loans if you get a divorce, unless you live in a community property state.

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Can a spouse be held responsible for student loan debt?

If you cosigned on your spouse's student loans at any time, whether they're federal loans, private loans, or refinanced loans, that means you are legally liable for those student loans… If your spouse dies or is otherwise unable to pay back their loans, the lender will look to you to pay them back.

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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?

loan repayment loan forgiveness

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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Can student loans go after spouse?

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If your spouse takes out a student loan during your marriage, but can't make payments and defaults, creditors in some states can go after both of your wages and assets — or, if you file jointly, your tax refund. The federal government will also go after your tax refund for loans taken out after marriage that default.

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Do student loans affect your spouse?

A partner's debt also generally won't affect your own credit scores unless you cosign a loan or take steps to refinance the debt together… However, if you live in one of the nine “community property states” both spouses are liable for debts and assets acquired after marriage.

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Do student loans transfer to spouse?

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Federal student loans are generally kept with the person who took them out, regardless of whether they were married at the time or not, and regardless of where they live. Things take a different turn when you're talking about private student loans, however.

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Does repaye include spouse student loans?

REPAYE when both spouses have student debt If both spouses have large amounts of federal student debt, REPAYE can be a great deal. Suppose that both of you have a combined discretionary income of $100,000. If you both were enrolled in Income-Based Repayment (IBR), your student loan payments for the year would add up to $15,000 ($1250 per month).

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How do student loans affect spouse?

If you have federal student loans and are enrolled in an income-driven repayment (IDR) plan, getting married can affect your payments. With an IDR plan, your payments are a percentage of your discretionary income. If both you and your spouse work, your income may be higher, and your payments might increase.

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How to consolidate spouse student loans?

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When you can consolidate student loans with your spouse

To combine student loans with a spouse, you must now use a private refinancing company. A refinancer might also even let you take over your spouse's debt as a sole borrower (with their permission, of course), although that would leave you on the hook by yourself.

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Should my spouse cosign student loans?

Deciding to refinance student loans as a married couple could be a smart move to improve finances, especially if one spouse has much better credit. Refinancing a student loan may result in a lower interest rate, which saves money. This could help alleviate financial stress and allow you to reach other financial goals, such as buying a home, saving for vacations and saving for retirement.

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