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If married are you jointly responsible for a student loan or just the acutal student? |
Since financial aid needs both of the married couples tax information are you both jointly responsible for paying the student loan? Or is just the student responsible credit wise? Just the student applying for the loan. You have to jointly provide your income information when completing the FAFSA so that your EFC can be determined. But when applying for the loan, it's just the student. Check with your state, though - there are some states, such as Wisconsin, where the spouse has to still provide information; not sure if that applies to student loan applications, however, since I'm not from that state. probably the loan itself If you apply for the loan in your own name, then you are solely responsible. Co-signers are equally responsible for the loan. In many states, both parties of a marriage are responsible for any debt incurred by either party during the marriage. This varies from state to state, though, so you should search for this information based on your state. |
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