Divorce - Divorce Legal Blogs Posted by Joseph E. Marvin - Lawyers.com

Student loan debt is a significant financial issue for many people in Minnesota, one reason why it has become a major part of the national political debates. When people decide to divorce, they may face additional financial stress, especially as these effects of the end of a marriage may resonate long after the emotional matters have been handled. People struggling with loan debt may wonder how a divorce might affect their obligations to pay their student loans.

In general, people who went to school and accumulated their student loan debt before marriage will also walk away from the marriage with the outstanding balance of their loans. Like other premarital debts and assets, student loan debt belongs to the person who brought it to the marriage. However, the situation can be more complex when people obtain new student loan debt after they are already married. In general, debts acquired during the marriage are considered part of the marital estate and eligible for property division. Because Minnesota is an equitable distribution state, the marital property is not necessarily split in half to be divided between the parties. Instead, the courts aim to achieve a fair outcome on a case-by-case basis.

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Joseph E. Marvin

Licensed since 1978

Member at firm Marvin Law Office, L.L.C.

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Joseph E. Marvin

Licensed since 1978

Member at firm Marvin Law Office, L.L.C.

RECENT POSTS

  • Family Law
    Posted on August 8, 2019

    Some people might assume that couples in Minnesota and around the country divorce for reasons such as infidelity or substance abuse, but a study that appeared in the Journal of Sex & Marital Therapy suggests that this is not the case. More than 2,300 people participated in the study, which found that reasons related to ... Read more

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