Combining Student Loans ... Ask TaxMama ... July 2, 2004

Ask TaxMama.Com
Tax Information With A Mother's Touch

Published by Eva Rosenberg, MBA, EA
Volume 6, Issue 265 July 2, 2004


	TaxMama's Resources & Specials
	TRA86
	Combining Student Loans
	Too Young for Medicare
	Under Criminal Investigation


	IRS Summer Tax Tip - Summer Day Camp


	A Revelation In Heaven

E-Mail
This Page To A Friend

Your email:

Your name:

TO email:

Combining Student Loans

Last week, James from Salem, OR asked about combining his and his wife's student loans.

We got some great points from Gene in Kansas City.

<A Reporter Replies>

Hey TaxMama,

Regarding the couple on 6/25 with the consolidated student loan question: Many of the student aid folks I've talked with about this for news stories advise couples to not consolidate Stafford or Plus loans. There's no advantage because interest rates are the same either way.

There's a potentially real disadvantage because if they consolidate, they are both on the hook for the total amount if the marriage ends. That's horrible for a widow(er) and probably won't help much maintain amicability with an ex.

Also, if either of the couple's loans is partly forgiven (which some are when the borrower goes into certain professions or public service work), consolidation will kibosh that benefit too.

Love to hear from you,

Gene Meyer
The Kansas City Star

TaxMama's
Other Sites
TaxMama's Secrets
The Help Desk
PhotoMasterpieces
I-Laugh

Site design by Serenata Design.