Is my spouse legally responsible for my student loans?
No. Student debt that you bring into a marriage remains your debt. … Your spouse might help pay down your debt, but you’re the only one legally responsible. This scenario also applies if you marry someone who has federal PLUS loans, which are available to parents and graduate and professional students.
Are student loans considered joint debt in divorce?
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.
Is spouse responsible for student loan debt incurred before marriage?
Marriage does not make you responsible for student loan debt your spouse incurred before you tied the knot. Each spouse remains responsible for the debt they borrowed to pay for school. Even if you live in a community property state, premarital debt is considered separate property.
What happens if your spouse dies with student loans?
Federal student loans are not passed on to anyone in your family or even your estate. If you die, your federal student debt is instead fully forgiven and is no longer owned or owed by anyone. Someone will need to provide proof of death to the student loan servicer managing the debt to get it discharged after death.
Do I have to pay my husband’s student loans if he dies?
Do I have to keep paying my student loan if my parent or spouse dies? Yes, if your parent or spouse dies, you will still have to repay your student loans. Even if your parent or spouse was helping you with payments, you are still legally bound to repay the loans.
Who is responsible for student loans in a divorce?
After a divorce, student loan debt is typically still the responsibility of the person who incurred it. However, there are exceptions depending on your personal situation and what the courts decide is fair and equitable division for both spouses.
Is my spouse’s debt my responsibility?
You are generally not responsible for your spouse’s credit card debt unless you are a co-signor for the card or it is a joint account. However, state laws vary and divorce or the death of your spouse could also impact your liability for this debt.
Who pays for student loans in a divorce?
Legally though, any student debt that you incurred prior to getting married is considered separate property. Therefore, after a divorce, it should remain separate property. If you borrowed money from the bank prior to getting married, that debt will become completely yours after the divorce.
Does spouse inherit student loan debt?
Is a Spouse Responsible for Student Loans Incurred After Marriage? 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 of the person who is on the loan agreement.
Can the IRS take my refund for my wife’s student loans?
If you’re married and you file taxes jointly, the IRS may take your entire tax refund regardless of whether your spouse has any student loan debt of their own. However, it may be possible to get your spouse’s portion of the refund returned to them if you file an injured spouse claim form (IRS form 8379).
Can they garnish my husbands wages for my student loans?
The answer is yes. Your student loan creditors can garnish your spouse’s wages to recover the amount of your defaulted student loan. You don’t mention whether the loan was incurred before or after marriage.