Posted on: 23rd Sep, 2010 11:33 am
i am marrying a medical student. i no longer have any debt, have good credit and salary history. can i refinance my fiances med school debt myself after we marry and take advantage of lower interest rates? there are both subsidized and unsubsidized portions of these debts which are currently deferred at least until graduation.
Hi DocFiance,
If you're residing in a community property state, then after marriage, your spouse's debt can be considered your joint debt. If your fiancée had taken out a Federal student loan, then she can take out federal debt consolidation loan in order to pay off her existing debt. If it becomes your joint debt, then you can take out the loan in your name as well. You can check out the given page in this regard: http://loanconsolidation.ed.gov/help/faq.html .
You and your fiancée can even opt for the New Income-Based Repayment (IBR) Plan in order to pay off the dues if she has taken out a Federal student loan. To get more information in this regard, check out the given page: http://loanconsolidation.ed.gov/help/whatsnew.html#ibrplan .
If your fiancée had taken out a private student loan, then both of you can take out unsecured debt consolidation loans which are available at better terms and conditions and pay off the existing loans. Such loans are available with any bank or lending institution.
Thanks
If you're residing in a community property state, then after marriage, your spouse's debt can be considered your joint debt. If your fiancée had taken out a Federal student loan, then she can take out federal debt consolidation loan in order to pay off her existing debt. If it becomes your joint debt, then you can take out the loan in your name as well. You can check out the given page in this regard: http://loanconsolidation.ed.gov/help/faq.html .
You and your fiancée can even opt for the New Income-Based Repayment (IBR) Plan in order to pay off the dues if she has taken out a Federal student loan. To get more information in this regard, check out the given page: http://loanconsolidation.ed.gov/help/whatsnew.html#ibrplan .
If your fiancée had taken out a private student loan, then both of you can take out unsecured debt consolidation loans which are available at better terms and conditions and pay off the existing loans. Such loans are available with any bank or lending institution.
Thanks