Student loans when married?

[Agent007]

My husbands salary will show up on fafsa, but he is not going to be paying for my education. Will that result in them declining me for loans?

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[topher031888]

Not likely but it depends on how much your spouse makes and probably depends on how you file your taxes (if your his salary is to high than he probably should be helping with tuition anyway). I am no expert on financial aide or taxes for that matter but my wife worked full time while I was in PT school and it did not affect the amount of financial aide available to me. She made approximately 28K per year.

Having a working spouse during school is fantastic, my wife was able to cover our living expenses and we used our tax returns/saving to pay for 2 of the summer semesters. We even had a baby at the start of my second year and I still only ended up borrowing approximately 55K. Not as good as some but a far cry from what some of my classmates/colleagues borrowed for PT school. We ate a lot of beans and rice and lived in a hole in the wall but it was worth it.

Just make sure you return whatever extra you may have ASAP. There is a window where you can officially reduce the amount you borrowed and essentially return what you don't need and the loan and fees associated with the loan will be recalculated as if you had initially borrowed the lower sum. This is better than just taking it and making a payment on the interest.

Remember, there is no magic way of getting that debt to disappear, you will likely be paying it back in one way or another. Be smart about what you borrow.

 

[Agent007]

Not likely but it depends on how much your spouse makes and probably depends on how you file your taxes (if your his salary is to high than he probably should be helping with tuition anyway). I am no expert on financial aide or taxes for that matter but my wife worked full time while I was in PT school and it did not affect the amount of financial aide available to me. She made approximately 28K per year.

Having a working spouse during school is fantastic, my wife was able to cover our living expenses and we used our tax returns/saving to pay for 2 of the summer semesters. We even had a baby at the start of my second year and I still only ended up borrowing approximately 55K. Not as good as some but a far cry from what some of my classmates/colleagues borrowed for PT school. We ate a lot of beans and rice and lived in a hole in the wall but it was worth it.

Just make sure you return whatever extra you may have ASAP. There is a window where you can officially reduce the amount you borrowed and essentially return what you don't need and the loan and fees associated with the loan will be recalculated as if you had initially borrowed the lower sum. This is better than just taking it and making a payment on the interest.

Remember, there is no magic way of getting that debt to disappear, you will likely be paying it back in one way or another. Be smart about what you borrow.

Thank you for the input! Soo you are on the older side too? I am 29 and being in school for another 3 years is a bit scary- i would be able to put half my salary towards loans when I graduate. I was thinking about trying to start a family towards the end of PT school- but not sure how that goung to affect clinicals or getting a job. Do you kniw on average how much people make working weekends only? Do you get extra pay for working weekends?