Student Loans

[valley_man0505]

I made it through most of my college education without student loans until my last 2 years of grad school.  I never did fully understand how they work.  Well, I recently got married, and my new wife is a college student. She had been receiving student loans before we were married, but now I am wondering what will happen when she submits her next FAFSA since my income will need to be included now.  Will my income disqualify her from loans?  She had not been receiving any subsidized loans in the past since she has free tuition (her mom is an employee of the university).  The only thing she was receiving was unsubsidized loans, but I don't remember how eligibility is determine for these.  My understanding is that your income does not really matter in regards to unsubsidized loans, so maybe nothing will change.  However, I don't really remember what little bit I ever did know about how these things work.

[IOBA]

She should still qualify for loans.    But would she need to take them out if she has free tuition and she's married?

[valley_man0505]

We have two children and it is tough to get by on one salary without the loans.  We really were not in a financial position for her to quit her job and go back to school when she did--we really needed those two salaries.  However, her mom does not plan on working for the University too much longer, so it was "now or never" if she wanted to take advantage of the free tuition.  It is hard in the short-term, but it will be the best route for us long term (don't worry, we are not getting carried away with the loans).

[IOBA]

Ok.    Let us know when you have confirmation, one way or the other, about her receiving financial aid.

[valley_man0505]

Will do.  She just sent in her FAFSA and name-change info, so we should know soon.