Student Loans and Divorce: Who is Responsible?

Student loans can be a huge financial burden on couples, but many people don't realize that debts accumulated prior to marriage aren't shared property. This means that if you and your spouse are getting a divorce, any student loans that were acquired prior to marriage and brought into the marriage are still that spouse's responsibility. If you are facing $30,000 in debts, you cannot split those debts with your spouse because they did not occur when you were married.

On the other hand, if your spouse went to school while you were married, and you both benefitted from the financial rewards of the degree, then you may have a mutual claim on the debts. Oftentimes organizing student loans can be complicated. Most likely, the student spouse is the only one that will owe on student debts. Contact a San Fernando divorce attorney today if you want to learn more about student loans and property division.