Can I consolidate with my spouses loans? Are spousal or joint spouse consolidation loans a good idea?
Yes, you may consolidate your eligible student loans with the eligible student loans of a spouse. However, it may not be in the best interest for married couples to consolidate their loans together because should your spouse die, become permanently disabled, deferred his or her loans, or divorce, you as the other spouse would be still be responsible for payment of the entire consolidation loan amount. Therefore, each spouse should separately consolidate his or her student loans into their own consolidation loan to minimize risk. There can still be only one monthly bill for the two consolidated loans, for added conveninece at no additional charge.
