What Happens to Student Loans in a Divorce?

 Posted on December 31,2017 in Family Law

Student loans are common for anyone with a higher education. Since many people have high amounts of student loan debt that takes them decades to pay off, the issue of student loan debt often arises in the divorce process. If you are going through a divorce, you may be wondering how student loan debt will be divided and whether it will remain with the spouse who incurred it.

The truth is student loan debt is treated just like any other debt in a divorce. Therefore, if the debt was incurred before you got married, it is “separate” and becomes the responsibility of the spouse who borrowed the money.

However, if the student loan debt was incurred during your marriage, it is known as marital debt like a mortgage, car loan, credit card debt, and personal loan. In the event your student loan debt is marital debt, you and your spouse will likely both have repay it.

If you are in the situation where your student loan debt was incurred during your marriage, you should know there are certain factors that the courts will use to determine how the debt will be divided and whether it will be divided in the first place. Some of these factors include:

• The income of each spouse
• The ability of the spouse who incurred the debt to repay it on their own
• Whether the spouse who did not incur the debt supported the spouse who did by taking on extra duties and putting their education and needs aside
• How the the spouse who did not incur the debt benefited from the student spouse’s education
• Whether the student loan was used for tuition and books or solely for living expenses

In some cases, the court may order the spouse who incurred the debt to repay it alone. There may also be instances where the court states that the student loan debt should be divided between you and your spouse. If you and your ex have addressed the issue of student loan debt in a prenuptial agreement, you should already know what will happen to it.

Consult Our DuPage County Divorce Attorneys

Debt division is an issue that needs to be closely evaluated during a divorce. If you would like to find out who is responsible for student loan debt and other debt in your particular divorce, it is in your best interest to contact our DuPage County divorce lawyers. Call us today at 630-932-9100 for a free consultation.