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Are student loans delaying marriages?

Updated: Oct 8, 2019





With this rising indebtedness of millennials, dreams are being deferred.


The white picket fence that represented homeownership and the beautiful family photos of secure marriages that defined the era of the baby boomers are missing for this new generation.


And with good reason.


Today, we’re going to look at three ways student loans are working to delay marriages for millennials.


1. It’s Expensive to Get Married

Before millennials can even think about supporting a partner, they have to look at how they can take care of themselves. As such, some millennials are choosing to delay marriage.

For example, more millennials are living at home with family because it’s cost-effective to do so. Therefore, if you’re living at home with your family because student loan debt has forced you to give up your apartment, would you want the additional financial and emotional stress of a marriage?


2. Filing as a Couple Can Cause More Financial Problems

As a couple, you will share finances. However, how you choose to file your taxes as a married couple when you have a student loan can cause further financial struggles. For example, an income-driven repayment (IDR) plan will be impacted if you file together based on the household income.


3. Marriage with Student Loan Debt Takes an Emotional Toll

The emotional struggles of dealing with student loan debt can weigh heavily on a relationship. For instance, student loan debt can prevent you from making larger purchases like a home or a better car. Or, you may not be able to vacation as a couple as often as you’d like.


Thinks like these can take an emotional toll on the health of a relationship as you stress over your finances. The negative impact can be overwhelming if not handled properly.


So, in light of the many issues that millennials will face as married couples with student loans, they are choosing to delay getting married rather than dealing with them.

But that doesn’t have to be your reality.


It’s time to start working through your student loan debt and create a plan for financial freedom today.

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