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Rising Star
Anyone know the raise amounts for BCG yet?
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Chief
I didn’t pay off my spouse’s loan. She didn’t even have to take it because I paid for her tuition.
I don't think it's a flex. He helped his wife achieve her goals. That's how I see it.
My situation is same. I paid for my wife medical school and after she started working, she paid for my MBA.
We both hustled and live paycheck to paycheck at times but got out without any student loans.
The correct answer is Yes. If you answered no, then you’re not ready for marriage. End of discussion. Thanks 😀
I think the correct answer is: “Be open to it”.
Pro
If it’s the right financial move for you as a unit, why not?
I agree with PwC1 I can still love my family without having to pay for their responsibilities. Not sure I’d say it’s a given to pay their debts
Pro
I didn't pay off her loans any more than she paid off mine because we are married. We paid off loans, period.
Yes! Our finances are combined so it was a simple decision: pay off the loans in order of highest interest rate. We’re a team and by working together we’ve been able to pay off almost all loans. No debt = freedom
Pro
If I’m gonna use my spouse’s 401k and social security, I’m probably on the hook for paying back her student loans
Yes. Ultimately the interest is costing the couple/family as a whole. If you are in a position to do it, and don’t have other debt with higher interest, it makes sense.
Once you’re married, you make decisions for the betterment and welfare of the unit. You might pay the student loans and you’ll work together on other larger debt together (house mortgage , car loans). It’s a joint effort
I think the right thing is yes.
If you’re married, then you share finances, and you also share each other’s debt. My friend’s husband helped her pay off her med school loans (and I’m sure when the time comes she’ll help pay off the mortgage or whatever financial need they have).
Lol. I was the one with student loans. My wife’s father paid for her college. We then used money from wedding gift to pay down debts I had from college.
Worth noting, coming up on our 15 year wedding Anniversary.
Rising Star
There are things people do for love ❤️
We approach finances as a couple. We were open about our financial situations when engaged and figuring out what to do. We combined the majority of our finances, less some fun money we both agree is ours to manage for whatever we want to do with it. Bills are paid jointly, including student loans.
Rising Star
Considering all of our money is shared, technically my wife is paying off my loans also. I make more money but we think of our finances as commingled. Nothing is mine and we both are adults about purchasing personal things.
Rising Star
No need to. Just wait for Joe Biden to cancel the loan. Haha
I know a couple where she paid his, but had legal documentation that if they split up within x number of years, he owed it back. They split up, he owed her the full amount immediately.
You don’t know that. So even though most marriages fail and there’s 0 to guarantee that if for whatever reason the other person wants to leave they can, you shouldn’t protect yourself, that’s insanity and brainwashing from media on love. The other person could fall out of love from one day to the next, fall in love with someone else, cheat, I’ve seen them all happen constantly. See thread below
Chief
Yep. Wife had lots of med school loans. Paid a big chunk when we got married. Then we paid the rest as we went along.
My bf (now husband) paid off my student loans when we were engaged. I was against it because I didn’t want it to become an issue between us (it was private school and grad school) even though it was his idea. Because I wanted things to be ‘even’ I paid the majority of expenses and now we are in a great space because that lingering debt isn’t hanging over us. We are now in our early 40s and just bought a vacation home and he is able to ‘retire’.
Chief
It’s either how tf could you afford to pay 2 tuitions at such a young age, or youre 20 years older than your spouse
Chief
Or you worked 2 jobs to keep your loan to a minimum and live frugally, and so is your spouse.
You must not be married! 😁
Never understood this. If you are married, you more or less are one entity. You resources at at bare minimum. Having a loan like this hurts you and them both