When A Spouse Co-Signs A Step-Child’s Student Loans

This opinion and advice column discusses a circumstance involving a wife expressing concerns about her husband co-signing his step-children’s student loans. She was concerned that if something were to happen that it might impact her husband’s credit score. This column discusses some of the steps that can be taken to avoid any potential future consequences. These steps can include things like taking out a life insurance policy to pay off the loans. It is normal for a parent to co-sign their child’s student loans because those are the years when a young person is just starting to get on their own feet. There can often be friction in families when there are step-children from a previous marriage. Families need to be able to communicate with each other to avoid these type of issues.

See Quentin Fottrell, What happens to my husband’s credit score if his kids default or die?, Market Watch, January 19, 2015.