My husband pays just under $600 for his student loans for his undergrad and graduate degrees. I am paying $1180 a month for an undergrad, grad and doctorate degree. Who else has seen there payments go up more than 4 times since the BBB bill took effect? I saw it coming and was lucky to have been able to take on additional responsibilities at work. We even moved to a less expensive apartment save $1500 a month. I’m exhausted. I have never worked harder in my life and I ran my own business at one point. How has it affected your lives, what have you had to do without?
Edit- I want to make sure that everyone understands what’s happening. With the BBB there are only two options RAP and IBR. I was in SAVE and now I am in IBR. I do not have private loans and my interests rates 2.25 for undergrad grad and graduate degrees and 5.75 for my doctorate. My husband pays under $600 for his loan, that is not my loan. My loan is $1180 which is a total of $1780 a month in our household. Just want to be clear. I do not need any advice about my payments. This was the best of the terrible options. Thanks!
Paying for a Studio Apartment in Students Loans. Who else is?
byu/Beneficial_Walrus886 inStudentLoans
Posted by Beneficial_Walrus886
3 Comments
Why is your payment fluctuating? Do you have private loans that have variable interest rates? Even so, they wouldn’t be changing that much. My variable interest rates have gone down since OBBBA. The payment wouldn’t be changing for federal loans unless you changed payment plans or you’re on a graduated payment plan. Even for a graduated plan, it wouldn’t go up 4x in a year.
Income changed/increased? Recertified income?
Yes it’s increased and I had to recertify. But I’m not making four times my income.