Student loans in a divorce

When a couple gets divorced in Florida the court will order an “equitable distribution” of the martial assets and liabilities. See Florida divorce law 61.075. The court will divide marital property 50/50 unless there are factors that would make an equal split inequitable. This can also include student loans in a divorce, debt is subject to equitable distribution as well. Equitable distribution and addressing student loans in a divorce can be complex. Therefore, if you need assistance contact an experienced divorce attorney in tampa.

Student Loans in a Divorce: Is the Debt Marital Property

Typically, the first step in an equitable distribution analysis for student loans in a divorce is to classify each asset and debt as either marital or separate property. Only marital property/ debt is subject to equitable distribution by a court; separate property will remain the property of the spouse who owns it. Marital property is typically all debts and property acquired jointly during the term of the marriage. However, the asset or debt does not need to be in both spouses’ names to be deemed marital debt. For instance, student loans with just one spouse listed as borrower can be treated as marital property in divorce.

Division of Student Loans in a Divorce

Generally, student loan debt incurred during the marriage is a marital liability and subjected to equitable distribution. Thus, the debt will be equally divided be unless there are factors that would make an equal split inequitable. The fact that a non-borrowing spouse will not receive any benefit from the student’s education is not enough for an unequal division. See Smith v. Smith.

In Rogers v. Rogers, the parties filed for divorce after eight years of marriage. During the marriage the wife incurred over $23,000 in student loan debt, the husband did not incur any student loans.  The court ruled that the student loan debt was to be divided equally between the husband and wife, despite the fact the wife did not begin working as a paralegal until after the divorce. Each case is different, if you are inquiring about the facts of a particular situation you should contact a divorce attorney in Tampa.

Unequal Division of Student Loans in a Divorce

Student loan debt is most often used with the expectation that the education will increase the earning and career potential. If the couple gets a divorce the non-student spouse will typically not reap the benefits of the future earnings. However, Florida courts cannot deviate from the 50/50 distribution unless there are some other grounds for an unequal split, including for student loans in a divorce. Distribution of marital assets and debts are governed by Florida Statute 61.075. In order for a court to award an unequal distribution of student loan debt there must be evidence justifying the deviation based on one of the grounds enumerated in the statute.

Divorce Attorney in Tampa

Student loan debt is often a very contentious issue in a divorce proceeding. Student loan debt can be an enormous amount of money and in some cases even greater than a couple’s mortgage. If you are considering filing for divorce and are concerned about the student loans in a divorce contact us to speak with a divorce attorney in Tampa. With years of experience in divorce litigation, the divorce attorneys at Florida Law Advisers are prepared to aggressively fight for what is fair in your case. Call us today to schedule a free consultation with a divorce attorney in Tampa.



Frequently Asked Questions

What happens to the home in a divorce?
Are debts divided in a divorce?
How is property divided in a divorce?
Is property I had prior to marriage divided in a divorce?
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