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Managing Student Loans During Divorce

In California, student loans can be considered to be community property, but it depends on the circumstances. So who pays? According to California Law, if the student loan was incurred after marriage, it can be considered community property and will be split between both the spouses regardless of whose name is on the loan. If the loan was incurred before marriage, then it is judged to be separate property and has to be paid off for the spouse who opted for it. While this may seem simple, there are multiple circumstances that could change the provisions made above.  The length…

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The Disposition of Student Loan Debt in a Divorce

A student loan, nowadays, can be quite significant. It may very well run into six figures. A number of professional couples carry student loan debts from their college years. Now, in a divorce, just like the assets are divided, the debts have to be divided as well. The question is whether student loan debts are considered as marital debts or separate debts. For what purpose the student loan was used for If the student loan was used solely for the purpose of pursuing the degree of one spouse, then it may be considered as a separate debt. For example, the…

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