Mowery Youell & Galeano, Ltd.
Mowery Youell & Galeano, LTD. Attorneys at Law
485 Metro Place South, Suite 220 Dublin, OH 43017
614-467-4923
Menu Contact
View Practice Areas

Paying off student loans after divorce

If an Ohio resident takes out a student loan after getting married, it is possible that the debt will be considered shared marital property if the two divorce. However, if the loan is from before the marriage, it will probably remain the responsibility of the person who incurred it.

Some couples who got married prior to 2006 consolidated their student loans because it gave them a lower interest rate. However, if they now get a divorce, then the loans may be considered the responsibility of both of them, and if one spouse does not pay their share, the other will be responsible for it. Couples should discuss their current and prospective student loan debts with one another before they get married, and they might want to create a prenuptial agreement that makes a plan for dealing with them in case of divorce.

Before heading into a divorce, a couple should understand the financial implications. How much debt each person will become responsible for will depend upon their individual situation and the final divorce agreement.

For example, if a couple decides to try to negotiate an agreement with the assistance of their respective attorneys instead of turning to a judge, the one who incurred the student loan debts might take those on while the other spouse might take on a credit card debt they are primarily responsible for. However, it is not always possible to make an amicable agreement like this, and in some cases, a person might have to pay part of their former spouse's student loan debt as part of the divorce agreement. People might want to talk to their attorneys about their concerns regarding financial security after the divorce and how they can best safeguard it. Some people might feel guilty about the divorce and feel pressured to make financial concessions as a result, and an attorney might be able to provide guidance in this situation.

No Comments

Leave a comment
Comment Information

These honors are evidence of the quality of counsel we are known for:

Email Us Today

Contact Our Attorneys Advanced Employment Law For The Columbus Area, With Offices In Dublin

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

MOWERY YOUELL & GALEANO, Ltd.
485 Metro Place South, Suite 220
Dublin, OH 43017

Toll Free: 888-401-2692
Phone: 614-467-4923
Fax: 614-760-8654
Dublin Law Office Map

Review Us
office pin
Back to top