My spouse unveiled she’s got $220,000 in student loans—what do we do now?

My spouse unveiled she’s got $220,000 in student loans—what do we do now?

Posted: Aug 11, 2018 9:10 a.m. ET

This joyfully hitched dad is like an ‘economic slave’

QuentinFottrell

Dear Moneyist,

I’ve known my partner for 8-plus years and I’m joyfully married with a new baby son. The two of us produce a living that is good$100,000 each year), but we spend an important quantity in figuratively speaking. We work numerous jobs, and some help is got by us from my parents and scholarships. My master’s cost 3 times significantly less than her master’s. She owes over $200,000 in federal student education loans and another $20,000 in private figuratively speaking ( one are at 12%).

I happened to be uninformed during the time that my wife’s loans had been twice our mortgage repayment and, while i believe we are going to handle, this has actually consumed into an currently hectic wedding with your newborn. We don’t know whom to turn to for advice and I also feel just like we now have become financial slaves. We spend $1,000 every month in order to keep her big loan that is federal accruing interest. She’s perfectly educated, but cash is a handicap.

Recently I began handling her debts and recognized she hadn’t made re re payments for a months that are few to forbearance and misunderstanding her loans, unfortuitously those month or two included $5,000 on the accrued interest associated with the total we currently owe. Fortsett å lese «My spouse unveiled she’s got $220,000 in student loans—what do we do now?»