Divorces are rough, but going through one while repaying student loans is worse, according to a new survey from Student Loan Hero. People with student debt are more likely than those without it to take out more loans to help pay for a divorce. They are more likely to delay divorce due to cost, too. The survey, which is based on the responses of 808 adult divorcees, also found that 13% of divorcees who went into marriage with student debt said it led to the marriage’s demise. The average outstanding student loan balance stands at $34,144, reports CNBC.
From Wikipedia, the free encyclopedia
Divorce, also known as dissolution of marriage, is the termination of a marriage or marital union, the canceling or reorganizing of the legal duties and responsibilities of marriage, thus dissolving the bonds of matrimony between a married couple under the rule of law of the particular country or state. Divorce laws vary considerably around the world, but in most countries divorce requires the sanction of a court or other authority in a legal process, which may involve issues of alimony (spousal support), child custody, child visitation / access, parenting time, child support, distribution of property, and division of debt. In most countries, monogamy is required by law, so divorce allows each former partner to marry another person; where polygyny is legal but polyandry is not, divorce allows the woman to marry another person.
Divorce should not be confused with annulment, which declares the marriage null and void, with legal separation or de jure separation (a legal process by which a married couple may formalize a de facto separation while remaining legally married) or with de facto separation (a process where the spouses informally stop cohabiting). Reasons for divorce vary, from sexual incompatibility or lack of independence for one or both spouses to a personality clash.
The only countries that do not allow divorce are the Philippines, the Vatican City and the British Crown Dependency of Sark. In the Philippines, divorce for non-Muslim Filipinos is not legal unless the husband or wife is an alien and satisfies certain conditions. The Vatican City is an ecclesiastical state, which has no procedure for divorce. Countries that have relatively recently legalized divorce are Italy (1970), Portugal (1975), Brazil (1977), Spain (1981), Argentina (1987), Paraguay (1991), Colombia (1991), Andorra (1995), Ireland (1996), Chile (2004) and Malta (2011).