I ran the loan simulator with my current #s from my tax return and it estimated my loan repayment to be $178. I just started the actual application and it is saying my loan repayment will be $744. Has anyone else encountered this?
Posted by saltyegg1
3 Comments
The automated systems aren’t perfect. What’s your AGI (approximate is fine), marital status, and number of dependents? We can tell you what to expect when your application is processed.
For income driven repayment plans, they often present your standard plan payment amount as a placeholder before your payment based on your income is actually calculated. That’s likely what’s happening. What plan are you applying for and what is your AGI and loan balance?
The person I am talking to as Studentaid just said they take assets into account….so if I own a home, they calculate that into my repayment cost?
Edit: they clarified….only if i am making money from renting it