Quote:
Originally posted by Discotish
it was my understanding that you couldn't consolidate husband and wife student loans together, if thet are Stafford or Perkins loans. I agree with the above poster, in that the loans are forgiveable when you die, so it's best not to stick your partner with your loans if you were to die at an early age...
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The believe the rules have changed on that-My DH & I just consolidated our respective Stafford loans, & we considered doing it together. We learned that now, H&W can consolidate together, and if one spouse dies, their portion of the consolidated loan is forgiven. I'll have to go back and find that flier & see if I can get a web-site that corroborates...
The downside, though, is that if one of you needs a deferral-say if you lose your job, or something, both spouses have to be eligible for the deferral. So, it may not be a good idea to consolidate together, even though the death-thing has been addressed.
ETA: I was bothered by the fact that I couldn't find this on-line anywhere, so I called my loan counselor (at Panhandle Plains Student Loan Center) and she told me the rule has changed in the last 3 months or so.... It only applies to death of a spouse though-so if you divorce, both spouses remain jointly/severally liable on the entire amount.... I didn't think to ask her if the rule change was retroactive, though.
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