Consolidating loans with your spouse
It seemed like a good idea to someone who clearly didn’t realize that sometimes a marriage simply doesn’t work out.
Unfortunately, there’s no way to separate a Federal Joint Consolidation Loan.
This can mean significant savings for a spouse with a low credit score.
If one or both of you borrowed to fund your education, you may be interested in consolidating your debt together so that you can share repayment responsibilities and get out of debt faster.
Do some extra homework if you have Perkins loans, or if you’re still in school.
It can be more complicated, and you don’t want to unknowingly give up any benefits.
If you both have student loan debt, it can be tough to manage, and it may affect your financial milestones, like when to buy a house or start a family.
No matter the case, as a married couple, you’ll need to tackle your finances together, including debt.