Should I help my girlfriend pay her student loans?
Should I help my girlfriend pay her student loans?
If you are in a long-term relationship with someone and don’t foresee that changing, helping your partner with student loans can be a good idea. This is especially true if you plan to combine your finances since you can see both your incomes as your joint income and both your debts as your joint debt.
Should I lend money to my girlfriend?
“Lending money, especially to a significant other, can jeopardize your relationship,” Chelsea Hudson, personal finance expert at TopCashback.com, tells Bustle. “Even if you love and trust your partner, loaning money can lead to further issues, such as resentment, tension, and additional debt.”
What happens when you marry someone with student loan debt?
2. How Does My Spouse’s Student Loan Debt Affect My Credit? In general, your spouse’s debt won’t affect your credit unless you co-signed a loan with them. If you co-sign a student loan and your spouse falls behind on the payments, your credit score will be impacted.
What is the average time it takes someone to pay off these student loans?
According to a survey of 61,000 respondents conducted by One Wisconsin Institute, the average time to pay off student loan debt is 21.1 years.
Should I marry someone with a lot of student debt?
Paying off debt means scrimping and saving. Marrying someone with a significant amount of student debt will mean significant sacrifices over the course of your lives together.
Should I pay off my wife’s student loans?
If your husband or wife is a cosigner on the loan, he or she is equally responsible for the full amount. So if you stop making payments, your spouse is on the hook as well. If you took out your loan before you got married, then your spouse isn’t required to pay it during the marriage or if you get divorced.
How long does it take to pay off 100k in debt?
It could realistically take between 15 and 20 years to pay off a $100,000 student loan balance, or longer if you require lower monthly payments.
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