Michael E. Golub, P.A.

Splitting student loans in a divorce

If you and your spouse in Florida have come to the realization that you should no longer remain married, you will have to work through the often challenging process of splitting up your assets. However, you may also have to figure out how to split your debts. While many people automatically assume that any debt in one person's name only would remain that spouse's responsibility, that may not always be the case.

A good example of this is student loan debt. As explained by Student Loan Hero, a few things might play into the ultimate determination that your spouse's student loans are at least in part your responsibility after you get divorced. One factor that will be taken into consideration is when the student loans were taken out relative to when you were married. If the loans were obtained prior to your marriage, you may not be liable for them. If, however, your spouse went to school after you got married, that might make a different outcome.

Also important is what the loans were used for. In some cases, people rely on student loan money to pay for basic living expenses that helped to support not only themselves but a spouse as well. Identifying these things may contribute to the ultimate decision on student loans in a divorce. 

If you would like to learn more about how your student loan debt and other assets and debts may be handled during your divorce, please feel free to visit the marital property division page of our Florida divorce and family law website.

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