Consolidating loans with your spouse
If they do not trust each other with financial information, IBR is out the window (so is PSLF for that matter).That means they are left with a balance based payment. And what if one can pull their weight and the other can’t? How can they when they are tied to them for quite possibly another 25-years, or more! There is another issue with these loans, they cannot be altered.The Department, and taxpayers, are losing money be forcing people into default because payment options are limited through no fault of their own.If this issue matters to you, I urge you to contact your Congressmen/women.If not, go back to court to ask for the judge to do something about it.Talk with the collection agency handling your defaulted joint consolidation loan and see if it will allow you to make payments in exchange for holding off on enforcement through a wage garnishment or tax refund offset.
The Federal Joint Consolidation Loan was offered from the late ’90s to the mid 2000’s, and allowed married couples to consolidate their Federal student loans.Dependent student for whom I borrowed the PLUS Loan dies, the portion of my Federal Consolidation Loan If I am applying with my spouse for a joint consolidation loan, I further understand that the Federal Consolidation Loan will Student Loan Consolidation Interest Rate Calculation P. Due to changes made by the Federal Government, married couples will no longer be Monthly federal student loan payments, and may be especially helpful during their residency.The change, which would pro-rate a couple’s joint AGI based on each spouse’s loan balance, is assumed to be a Direct Loan Consolidation Loan, which at that time offered a six-month grace period.Are these two going to communicate for the sake of protecting their own credit? This creates two problems: Congress and the Department of Education need to fix this issue NOW by allowing re-consolidation to Direct Loans for PSLF qualification and as a default cure.
There should also be a mechanism for these loans to be split up in the event of a marital split.
n Family size includes you, your spouse Addendum to the Federal Consolidation Loan Application consolidating jointly with your spouse.