Understanding Student Loans in a Divorce
Hi, I’m Tulsa father’s rights attorney Clint Hastings. Today, I wanna answer what happens to student loans in a divorce? Are they marital debt or are they the separate debt of the party that took out the loan? Well, it can be different in different situations. And the reason is, is that sometimes student loans are taken out specifically for the student, but the living expenses and other miscellaneous expenses are covered by loan money for the parties while the other party’s going to school. And in that case, it can be separated out as marital debt, and each are responsible for an equitable portion of the debt, and that may be half.
If both parties live at home and it’s using the loan to cover all the living expenses, it’s probably gonna be half. Let’s say, that your wife takes out student loans and goes and lives at the dorms, out of state, and a small portion of the loan is covering living expenses at home where you’re living. Well, hopefully you can delineate that out and identify how much of that loan you might actually be responsible for. In other scenarios, it can be split out a different way. I’m going to go into some of that next in another video.
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Watch the next video for more information about how student loans are divided in a divorce.
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If you need legal advice on issues related to student loans or divorce, contact the Oklahoma Dads.Law attorney Clint Hastings at 918-962-0900 for a low-cost consultation. We are here to help you navigate through these complex legal matters.