It’s generally assumed that there are tax benefits that come with marriage.
But sometimes, “Married Filing Separate” is the more tax-advantaged way to go.
If you’re using Income-Based Repayment with your student loans, you might consider filing separately from your spouse.
A Two Cents reader emailed us his tip for keeping his wife’s student loan payments under control.
After receiving her doctorate, his wife had $85,000 worth of student loan debt.
This lowered her payments to $230 a month.
That $400/mo bump was too much to handle.
This lowers the amount of money you’re obligated to pay.
Of course, there are a few factors to consider with this.
GL Advisorconfirmsour reader’s tip and suggests talking to a professional to optimize your debt repayment plan.
Photo:Cory M. Grenier
