Student loans and other debts are an issue for many married couples. When a couple divorces, the common question is whether both spouses will be liable for such debts or whether they are the responsibility of the party acquiring them.
A recent article highlights certain misconceptions regarding debt division during a divorce, specifically concerning student loans. According to the article, many people may have the misunderstanding that student loan debt incurred prior to a marriage becomes marital property after the marriage. This is typically not the case, as the party bringing in the debt will remain solely liable for it absent a contractual agreement. If the student loan is taken out during the marriage, however, the circumstances may be different. It may be treated as marital property or treated as separate property for the party taking it out depending on the laws of the state and the financial situation of each party after the divorce.