If I marry you, do I marry your student loans too? His student loan debt is his alone and his payment history for those loans stays on his credit history, not yours. When you are ready to buy a house together, though, his credit history will affect the interest rate you pay. His debt will weigh you down in other ways, too. Every dollar he pays toward student loans is a dollar he isn’t contributing to your monthly expenses, vacation fund or retirement planning. Is he doubling down and focusing on paying off the loans fast, while you shoulder more of the expenses for now? For true love, it’s probably a pretty good tradeoff. But you still need to have “the talk” with him. Be clear about your goals and how long it will take to get there. Then you have a problem.
How debt destroys your dating life
She planned on spending the day with a man she had met online, but not in person. Taylor, a year-old student at Hunter College, had confided in her roommate about the trip and they agreed to swap text messages during the day to make sure she was safe. Once in Greenwich, a man who appeared significantly older than his advertised age of 42 greeted Taylor at the train station and then drove her to the largest house she had ever seen.
He changed into his swimming trunks, she put on a skimpy bathing suit, and then, by the side of his pool, she rubbed sunscreen into the folds of his sagging back — bracing herself to endure an afternoon of sex with someone she suspected was actually about 30 years her senior. Taylor doubted that her client could relate to someone who had grown up black and poor in the South Bronx. A love match it wasn’t.
There are currently eight different repayment programs available the details of which vary , and you will have to enroll in an LRP in advance.
But this statistic is misleading, because a lot of borrowers think this means qualifying for some type of student loan forgiveness program. The secret is simple: What’s even better is that your income could be low enough to qualify for zero or minimal repayment, at which your loan will be forgiven at the end. You can sign up for these programs for free at StudentLoans. They can help you navigate the student loan terrain and help you systematically apply for the programs offered by the Department of Education.
You can call them at or check out their website here. Here are the student loan repayment plans that qualify for student loan forgiveness:
Millennials Are Screwed
I married to a man with 90k in student loans to pay back. He is a Dr. First of all yes- you are getting a little ahead of yourself. Even if you do get married -I doubt that she is suddenly going to deam you responsible for her loan payments if she has been paying them on her own all along.
It should be an enormous red flag if a partner is unwilling to open up about the source of the debt at all.
Continue reading the main story Four years later, their story seems less like a tribute to upward mobility than a study of obstacles in an age of soaring economic inequality. Not one of them has a four-year degree. Only one is still studying full time, and two have crushing debts. Each showed the ability to do college work, even excel at it. But the need to earn money brought one set of strains, campus alienation brought others, and ties to boyfriends not in school added complications.
With little guidance from family or school officials, college became a leap that they braved without a safety net. The story of their lost footing is also the story of something larger — the growing role that education plays in preserving class divisions. Poor students have long trailed affluent peers in school performance, but from grade-school tests to college completion, the gaps are growing. With school success and earning prospects ever more entwined, the consequences carry far: Duncan, an economist at the University of California, Irvine.
Guide to Paying off a Student Loan With a Balance Transfer
They are not a financial lending service, but they can help you organize, manage and eventually repay your student loans. The company was started by Andy Josuweit, who dealt with debt from loans he had taken out during his academic years. Student Loan Hero is a service that is experienced and unbiased, which can actually help you pay off your student loans. Unlike financially-motivated services, Student Loan Hero is geared towards helping you achieve your goals. Products Student Loan Hero offers many services to students in need of help paying off their debt.
Higher staff salaries became luxuries to be slashed.
By KK in Education , Guest Author , Relationships This post was written by Jana Lynch, founder of the Bloggers Helping Bloggers Mentoring program and owner of the personal finance blog Daily Money Shot , where she talks about money, life, parenting, and makes obscure pop culture references. You can also stop by and say hi on Facebook , Twitter or Pinterest. I often joke that my punishment for not finishing either undergraduate or graduate school with any student loan debt was to marry into a whole lot of it.
While I was fortunate enough to have my parents and scholarships pay for both of my degrees, my husband was not so lucky. So that was both a happy and sad day. Prior to our marriage, I had no idea just how much his debt was.
If I marry you, do I marry your student loans too
We all have dating red flags and if we spot one, bail before getting in too deep. Financial relationship red flags take longer to spot. We can overlook a lot in the name of love, the snoring, leaving the toilet seat up, beauty products multiplying on every bathroom surface. But some things can be dangerous to overlook. Please note; these are not questions for first dates!
If we do, we plan to put any money we make from the sale towards our student loan debt.
Posts asking for crowdfunding of your personal debt will be removed. Do not post private or direct contact information for loan servicer employees, ED employees, or anyone else that’s not officially available. Please report these types of activity immediately. This subreddit is intended to be a forum of discussion, information, and assistance related to the topic of student loan debt. Please feel free to join the conversation, discuss experiences, or ask for help.
The goal is to be as unbiased and clear with news and information pertaining to student loans. Mods will be vigilant in ensuring personal opinion doesn’t cloud the facts. While every attempt will be made by the mods to ensure the information provided and opinions voiced will be relevant and accurate, you should ALWAYS speak with a professional advisor in person in regards to all decisions of this magnitude you make!
Study: Student loan debt a relationship killer [Video]
More Ways Than 1 Tackling student loan debt requires a money mindset makeover of its very own. The weight of the financial burden is often multiplied by feelings of failure and discouragement. When job prospects are low and salaries are not even in the range to justify— let alone cover— what you owe for your education, it can be hard to imagine yourself financially well.
The Consumer Financial Protection Bureau recently published a report that identifies four elements that define financial well-being: Student loan debt may feel like an immovable obstacle to financial well-being, but Tiffany the Budgetnista and thousands of women participating in her Live Richer Challenge are proving everyday that your dream of fulfilling work and financial freedom is not out of reach, no matter how much money you owe.
Here are some student loan tips to help you take charge of your student loans and position yourself to live richer.
Seeing that every day was hugely motivating because it just reminded me the student loan debt was still in my life.
Plus, get alerts of changes to your TransUnion report, such as a new credit card or loan account. The service is available to all, not just Discover card customers. Dashlane is a password manager that collects and stores passwords for websites you visit. Online tax software TurboTax makes the tax code understandable, which is no mean feat. It also allows you to import documents electronically from more than 1.
The biggest downside is cost.
Dating someone with a lot of student loan debt
By Allana Akhtar September 24, Elementary school teachers use simple paper chains to decorate their classrooms. Holt managed to pay off his six-figure debt in just seven years — and even saved money in the process. Holt revealed the details behind his major debt payoff, plus his advice for other grads struggling with student loans. How big was your debt? I did know I was going to be taking on six figures of student loan debt.
Credit card debt is another gray area when considering a partner.
The federal government can take up to 15 percent of your Social Security benefit. The number of people 60 and older with student loan debt quadrupled from , to 2. And in fiscal year alone, almost , borrowers age 50 and older had Social Security benefits seized to repay defaulted federal student loans, according to a Government Accountability Office report. Private student loans are not subject to Social Security garnishment. Called offsets, these Social Security repayments increased more for Americans 50 and older than for younger borrowers.
Between and , offsets jumped percent among to year-olds and percent for those 65 and older. Most of those whose Social Security money was seized were receiving disability benefits, rather than retirement or survivor benefits, the GAO report said. If your benefits are seized to repay a federal student loan, you cannot appeal to the Social Security Administration; rather, you must appeal to the Department of Education.