Going through a divorce can be a stressful, contentious experience even under the best of…
Although many Kansas couples get married with the idea that they are in it for better or for worse, there are many marriages that do not make it due to financial stress. In particular, student loan debt is considered to be one of the largest financial issues when it comes to marriages.
According to a report from Student Loan Hero, more than 33 percent of those with college student loans said that those loans and other money issues contributed to the end of their marriage. Further, 13 percent of those who had gone through a divorce specifically blamed their student loans for the ending of their marriage.
However, getting to the point of marriage with tons of student debt can be difficult as well. For example, having a large amount of student loans can have an impact on a person’s lifestyle and make it difficult for him or her to purchase a home or even start a family. Because student loan debt can be difficult to deal with during a divorce, it is recommended that those looking to get married should consider getting a prenuptial agreement which specifies how those debts will be addressed should the marriage come to an end.
When a couple takes steps to end their marriage, the actual process can be confusing, especially when it comes to dividing up assets and debt. If there are children involved, the former couple will also have to make decisions about child custody and support. If the other spouse has a large amount of debt that was incurred prior to the marriage, a family law attorney may help a person determine whether he or she is responsible for some of those obligations.