Student Loans and Getting Married?
I am returning to university in the fall, and my girlfriend and I are considering marriage this summer. However, I am worried how marriage will effect my eligibility for Student Loans. I can’t get a straight answer out of Saskatchewan Student Loans, as there are, “too many variables” for them to estimate– I can only get married, apply and hope for the best.
My gal makes ca. $50,000/yr, and is currently pursuing her Master’s. I am in my late twenties, with a prior student loan (now paid off to ca. $6500). I’m working full-time for $10/hr (I left a salary to pursue further education), for now and my pre-study period, and p/t as a student. Again, we live in Saskatchewan.
Is there anyone out there with FIRST HAND knowledge of how marriage can or will effect my application for a loan? Anyone who’s been in this situation? I am enrolled at the U of Sask., anticipating tuition + books to be $5000 for two semesters.
Thanks!
You are smart to think about this…A couple things to mention..I am married, attending grad school and our household income last year was over $300,000. I just quit my job in January and wasn’t sure how I was going to cover the reminder of my tuition (now that I’m not working). I went ahead and applied for a loan thinking there was no way we would qualify – but they gave me every penny I asked for and then some.
The major difference is that I did not qualify for the subsidized loan (where the gov’t pays the interest while you are in school). I only qualified for unsubsidized…fine by me!
So, that’s the long story. It will help that your girlfriend is in school because your family contribution will be less since you’re paying for her school as well. You may not qualify for any need based aid, but you will probably get all the loans you want. Bottom line is, you should be totally fine as far as loans go. They will probably like the fact that you have two incomes to help repay!
