Don't Pay Your Spouse's Student Loan Without a Prenup
Prenuptial agreements contend with a frustratingly negative reputation when in fact they’re simply marriage insurance.
No prenup, no payback. Photographer: Joe Raedle/Getty Images North America
The federal government’s decision to forgive $10,000 of student loan debt is good news not only for millions of borrowers, but also for their partners. While student loans taken out before marriage are generally considered separate debt (as long as no one co-signed), couples often deal with each other’s financial baggage in some way or another.
Still, today’s typical undergraduates with loans have close to $25,000 in debt upon graduation, according to a Department of Education analysis. That means there will be plenty of student borrowers whose debt remains.