School Loan Debt

Bump.

Thanks so much for the bump Noddy!




Just thought I would update everyone on what I found out in regards to my post above.

My state AZ is not a common law marriage state so therefore my boyfriend going on 11 years has no legal rights to my assests. The school loan people can attach his wages given the proper legal notifications but cannot touch anything I own. School loans are a special circumstance (in my state at least) and cannot cause a lein to be put on my house even if I put his name on the deed or we get married. They can continue to withhold his Federal Tax refund however. I have not checked into what happens if we file as married jointly in the future though.

The biggest impact his long term school debt will have on me is if we get married and apply for a loan or credit of some type. Undoubtly my credit rating will look favorable to lenders, but his will not and may likely cause a higher interest rate to be charged than if I were remain unmarried and apply for a loan myself. I'm thinking that this difference will amount to only a couple of thousand dollars over time so it may not be that big of an issue especially if we work on improving his credit rating and don't buy any big items on credit for a while.