How To Consolidate Student Loans With Your Spouse in 2025

If you and your spouse both have student loans, combining your debt could make repayment simpler. The ability to consolidate student loans with your spouse used to exist through a federal program, which is why some couples still have joint consolidation loans today. However, that program ended in 2006.  

While you can’t combine federal loans with your spouse's anymore, you may be able to refinance your student debt together through a private lender. Here’s what to know about refinancing student loans with your spouse and how to decide if it’s the right move for your finances.

Current student loan refinance rates

Can you consolidate student loans with your spouse?

You can no longer consolidate student loans with your spouse through a federal loan consolidation. From 1992 to 2006, married couples could combine their federal loans into a single joint balance, but that option was eliminated on July 1, 2006. Today, you can still consolidate your federal loans individually, but there’s no program to merge yours with your partner’s.

“Joint spousal consolidation loans became problematic because both spouses remained responsible for the entire loan balance, even if they got divorced or separated,” explains student loan attorney Adam Minsky. 

Why federal spousal consolidation is no longer available

Joint student loan consolidation was eliminated because it created major challenges for borrowers, including:

• Joint liability for debt: When spouses combined loans, both were responsible for paying back the debt, and there was no option to separate the loans again. This became a problem if a couple divorced or experienced other issues. 
• Limited access to federal benefits: Many spousal consolidation loans, especially those made under the FFEL program, didn’t qualify for certain federal benefits, such as Public Service Loan Forgiveness (PSLF) or newer income-driven repayment (IDR) plans.
• No option to reconsolidate: Borrowers couldn’t roll their joint loans into a Direct Consolidation Loan, which meant they were ineligible for many repayment and forgiveness options. They also couldn’t use consolidation to get out of default.

The setup also “complicated Public Service Loan Forgiveness, income-driven repayment eligibility, and tax deductions, really blurring whose income applied to whose loans," explains James Hargrave, certified financial planner (CFP) and founder of Pillar Financial Planning.

How to consolidate student loans through refinancing

To consolidate student loans with your spouse, refinancing with a private lender may be an option. With this approach, you'd refinance both your student loans into a single new loan and pay it back together. Here's how it would work: 

1. Research lenders: Very few lenders offer spousal refinancing, but most allow one spouse to refinance with the other as a cosigner. In that case, your loans remain separate, but you’ll share responsibility for repayment. Applying jointly could also help you qualify for a lower interest rate, especially if your spouse has stronger credit than you.
2. Compare offers: Many lenders let you check rates through prequalification without affecting your credit score. Review interest rates, repayment terms, and monthly payment options to see if refinancing makes sense for your financial goals.
3. Submit an application: Once you’ve chosen a lender, complete the refinancing application. You’ll need to provide details about your student loans, both of your financial information, and documents such as loan statements, pay stubs, and identification.
4. Pay back your new loan: After your lender disburses the new refinance loan, you'll begin making monthly payments on it. 

Pros and cons of spousal student loan refinancing 

Spousal student loan refinancing can have some advantages, but it's not the right move for everyone. Consider the pros and cons before you move forward. 

Pros

• Simplify repayment: Instead of managing multiple loans in both your names, you'll only have a single loan with one monthly payment.
• Lower your interest rate: Refinancing could help you secure a lower interest rate, which could save you a significant amount of money over the life of your loan.
• Restructure your debt: You can choose new repayment terms that align better with your budget and financial goals.
• Pay off debt together: Combining your loans lets you and your spouse pay off debt together and simplify your finances as a team.

Cons

• Lose federal benefits: Refinancing federal loans with a private lender means you'll forfeit access to federal forgiveness programs, repayment plans, and other borrower protections.
• Impact both your credit scores: Since both names will be on the new loan, repayment activity — positive or negative — will impact both of your credit scores.
• Limited lender options: Few lenders offer spousal refinancing, so your options may be limited. It might make more sense to refinance with one spouse as a cosigner instead.
• Potential complications in the future: If you separate or divorce, managing a shared loan can become complicated for both of you.

What to consider before consolidating loans with your spouse

Before you consolidate student loans with your spouse, think carefully about both the financial and emotional implications. Make sure refinancing would actually improve your loan terms and interest rates, and consider how repayment could affect both of your credit scores.

On the emotional side, consider how combining student loans could impact your relationship. Could it cause tension if one person owes a lot more than the other? Or will it create a sense of shared responsibility and teamwork? 

“Finances are often a point of contention for couples, so there’s usually no need to make things more complicated by combining your debt,” says Leslie Tayne, financial attorney and founder and managing director of Tayne Law Group. “Even if you’re hopeful that everything will go smoothly, the reality is that unexpected situations can and do arise.”

If you separate or divorce, untangling a joint loan can be difficult and add more stress to an already challenging situation.