I've been on an IBR payment since I graduated in 2012. Originally it was a $60k balance now it's over $80k. My payments have generally been around $230/month which was manageable. I tried to recertify my income and my payments are going to be almost $700/month! My income definitely didn't go up that much in that time. I called and they told me I would switch to the PAYE plan because it would be a little over $500/month which is still stressing me out because I have no idea where that's going to fit into an already tight budget, but at least it's not $700. I went through the steps online with the instructions they sent and it says I don't qualify for the plan they recommended.

    I don't know how they expect people to pay money that doesn't exist. $700/month doesn't exist in my budget. I can't just magically make that happen. There's no recourse at all when you just flat out can't pay the amount they're wanting. I don't even know what to do at this point and it's stressing me out so much. I'm literally sick to my stomach thinking about this every single day. I've been paying on these for 13 years, never went into default, never missed a payment. I just can't see a way forward at this point and it just feels so hopeless. 😞

    IBR payment is going to triple in 60 days =/
    byu/Good-Negotiation4522 inStudentLoans



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