Trouble in Your Love Paradise due to Student Loan

student loan

Student loan and marriage issues - most people even cannot think of it. A marriage is all about love, though we cannot forget hard work. While confronting any problem, the couples need to confront it together. However, most of the problems in a married life come from the financial front and it is mostly found among young couples. In Oklahoma City, attorneys are accustomed to dealing with such troubled marriages due to financial issues. Student loan and debt are one of the most talked about reasons of trouble in the marriage.

Student Loan Nationally

Education cost in higher tiers is quite hefty these days, and students apply for a loan, therefore. It has been found that 44 million students have a loan for education and they owe $1.5 trillion to the government which makes every student having $34000 dollar loan on their shoulder. However, students pursuing higher degrees this rate increases more. Now the outstanding amount but also the interest amount is burdensome. When students start to pay off the loan, it automatically gets applied on the interest bot on the outstanding, henceforth; it becomes critical for the students to pay off.

Debts become Stressful for marriage

Young married couples work harder to pay off debts. Instead of having disposable income they find the money is draining on rent, food and loan pay off. When you have issues with money, there are bound to be arguments. The financial stress shows up on the relationship and couples come to a family attorney in Oklahoma City, OK, to dissolve everything.

Divorce

Cause of Divorce

We have found many people pointing out the student loan and its burden as the reasons for divorce. One-third of individuals of 800 loan borrower students accepted money as the reason of fight and arguments with the partner. One in eight accepted that student loan has a contribution to the marriage dissolution.

This Is Tough but Necessary

Previously, a high school diploma was enough to get a job. Now a college degree is the minimum requirement for an entry-level job. With this change, the education cost goes higher and it ranges from $20,000 to $35,000 a year. As a result, for a four-year degree, a student needs to pay $125,000.

If you are a young couple and education loan puts pressure on your shoulder, let us tell you divorce would not solve this. The family attorney in Oklahoma City, OK never encourages divorce for this reason. Rather you can follow this –

  • You can borrow as less as possible.

  • Design a repayment plan and follow that rigidly.

  • Talk to your spouse and make a decision jointly.

If you think loan burden and financial stress is destroying your marriage, come to Handle Law Center. Let our family attorney in Oklahoma City, OK, to see how to help you. But of course, divorce is not a solution.