Love and Marriage...and Debt

[Spike1360]

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Similar questions have been asked but not exactly in context so I'm going to rehash this. Apologies to anyone whom this angers.

I'm a first year med student gradually amassing a mountain of debt at a private med school. I'm engaged to a non-med girl (read no debt) and would like to maintain separate finances so I do not saddle her with my loans in the event of death or attempt to purchase a large item on credit. I will be living in Louisiana which is one of those whatever you call it states 😕 so the rules are a little different, but I can't exactly figure out what they are.

Does anyone know where I can go to find out this information? If it requires waiting until after I graduate to tie the knot, I would be agreeable.

Thanks for the help👍

Post Script: Thought I'd mention that I have in fact googled it, and the overwhelming answer is that the debt is mine and mine alone, but I can't find it on any website which I would deem reputable. Thus, the request for help

 

[dpmd]

Federal student loans die when you die or are permanently totally disabled. As for the credit thing, if you guys buy something jointly and you are using your income to qualify for it, there isn't a way to keep it separate. If she can get the loan on her own then it shouldn't be an issue. But, if you are married, both of your incomes will be evaluated when it comes to applying for IBR (unless you file separately but that has its own disadvantages). You might be better off financially if you don't get married until your income exceeds the level where you don't qualify for IBR anymore (unless she doesn't earn much-you will have to look up the numbers where her income outweighs the benefit of having a larger family size). However, that may not be something that is better for your relationship.

 

[Spike1360]

Thanks. Hadn't even considered the IBR angle, but that would be a long way off. Hmm, the water is muddy