My wife owes $54k+ in Stafford subsidized, unsubsidized, and Grad PLUS loans with Nelnet. She had been paying $60.94 a month on an IBR plan and recently got her recertification approved… and now has to pay $218.41 a month. On top of that, she is federally employed and just received her last paycheck for what might be a while.
She called Nelnet and they said the new amount was calculated correctly, but they didn't elaborate as to how exactly they reached such a high figure. Our income hasn't exactly skyrocketed since last year, so we are puzzled.
Please let us know if anyone can shed light on this, and suggest any advice. She's hesitant to request deferment or forbearance, since her loans are already 15 years old and this would further delay forgiveness.
Wife's IBR plan with Nelnet just got recertIfied, now has to pay more than twice her original monthly payment.
byu/1r2c3d4f inStudentLoans
Posted by 1r2c3d4f
5 Comments
Are you filing separately or together on your taxes?
It’s based on her AGI on her latest tax return (combined if you file jointly) if she allowed access to her tax data. If she now has no income she can apply to have her payment recalculated to reflect that.
My payment tripled between May and June. My income didn’t go up at all. In fact it went down.
It puzzles me how many people don’t use the calculator’s online to forecast/check what their payment should be around. It takes 10 mins of work.
All the math is here: https://studentaid.gov/manage-loans/repayment/plans/income-driven