My wife is applying for a student consolidation loan. Before we married she accumulated approximately 50,000. In student loan debt. The lender is asking me to online sign for what I think is for income varification. We are married and file separately.. Will this signing make me liable to this student loan debt?
May 3, 2014
It really depends upon the paperwork and the language you are signing.
You could get some clarification if you contact the lender and ask whether or not you are liable for the debt in the event she does not pay.
Co-Signing for a loan does make you responsible if she doesn’t pay.
This article won’t directly answer your question, but it might give you a few things to consider: https://studentloansherpa.com/advice-married-couples-cosign-loans/
If your wife’s income allows her to repay the loan without assistance from you, it is actually illegal discrimination on the basis of marital status for the lender to demand you to co-sign.
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