Perhaps you’re experiencing a bit relieved now considering that the facts are that many individuals won’t be held accountable with regards to their spouse’s education loan debt.
But that doesn’t suggest you’re from the hook as of this time.
Simply you still won’t feel it where it counts — your bank account because you’re not legally responsible for your spouse’s student loan debt doesn’t mean.
In case the partner has to create a $600 student that is monthly re payment, that’s $600 less you need to get toward your personal provided home. That’s $600 less each month for a residence deposit, $600 less each month to get toward your kid’s college investment, $600 less each month to get toward your retirement, etc.
Even though you have split funds, that still means there’s less money overall that your particular partner can add to provided costs, like mortgage or rent, utilities, etc. (more…)