A new report has been released that shows student debt as a driving force behind some divorces in the United States. We all know how big of a role debt plays into the health of a relationship. Well, now researchers are pinpointing one specific type of debt that has been known to be a cause for divorce and that debt is student loan debt.
The amount of student loan debt in the country has hit $1.5 trillion, which is a record. No matter the amount of debt you have to your name, it can have a negative impact on your relationship. It can also be smothering, especially if you feel as though you are not making any progress on repaying that debt.
A survey from June 2018 by Student Loan Hero took a look at how finances and debt play a role in relationships. The survey included 800 respondents who are divorced. Of that group, 13 percent of them said that student loans were the cause of their divorce.
The high amount of student loan debt in the country could even have an impact on people getting married in the first place. More and more people are leaving college with anywhere from $34,000 to $50,000 or more in student debt. This can be a detractor to marriage because someone without debt might not want to hitch their wagon to that amount.
It’s never easy to discuss the topic of divorce. When the discussion involves debt, it can be even more stressful. Dealing with debt and divorce is a challenge many couples face at various ages in Kentucky. Make sure you are prepared for what is to come should you file for divorce.