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Splitting/Refinacing Consolidated Student Loan After Divorce?

Started by phxflyer, December 12, 2016, 02:09:17 pm

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Here's the situation...

1. Both acquire student debt (federal) before marriage.

2. Got married..

3. Consolidated student loans together (back when you could do that)

4. Got divorced...

5. Loans are still consolidated / repayment is a mess...

6. Both agree that splitting the loans back to his loan / her loan would be best...

Question? Since the original pre-consolidation loan amounts are still in the consolidation loan record (nelnet) is there anyway for both parties refinance


Spousal consolidation loans are the worst... simply because there is no good way to deal with them.

There is no tool to easily split the loans up (there should be), and the best you can really do is get your lawyer/judge to ensure each spouse pays their portion.

However, you could each refinance into private loans based on how you want to split it. It wouldn't be easily done, and you're probably going to both have to work together by going to a local bank or credit union to see if they would even offer that for you both.