I’m currently on the SAVE plan and I know we will be told to switch in the upcoming months. I personally make $0 I’m a stay at home wife but soon to be stay at home mom. My husband makes like $50k a year but it all goes to bills and our expenses. I have been making $150 payments each month on the SAVE plan just to help with the interest and chip away at some of the balance. My loans are around $10,400. I will have one dependent in September so I’m just unsure of what to switch to that will be a low payment or a zero payment where I can continue to pay $150 each month until I can go back to work. Will they take into account my husband’s income? If you need more info let me know!
Unsure of what repayment plan to switch to if I’m unemployed but my husband works
byu/Educational_Bug516 inStudentLoans
Posted by Educational_Bug516
2 Comments
They will use your combined income if you file taxes jointly. They will use only your income if you file taxes separately.
But your IBR payment is capped at a 10 year standard amount even if your income is high compared to your loan balance. Your IBR payment wouldn’t be higher than about $115.
Did ya’ll file your 2025 taxes as married filing jointly or married filing single?
[edited to remove inaccuracy].
You cannot “hide” your spouse’s income from the government, but sometimes filing separately does help in these cases. [edited to remove inaccuracy]
Either way, income-based payments on a 50K salary won’t be a ton. Probably can get it below $300 if you work with them. Good luck!