Hello and thanks for all the info you have provided.
My wife and I each have about 100K in loans. We are both on the REPAYE program with our loans serviced through Great Lakes. They keep basing our payments off 10% of our discretionary income for each separate loan account, making our total bill for our loans to be 20% of our discretionary income. Everything I have read on your site explains that it should only be a total 10% split proportionally (based on our separate loan amounts) between us. I have spent hours on the phone with Great Lakes and cannot convince them this is how it is supposed to be divided. Everyone we talk to tells us we misunderstand the program and we are confused and wrong.
Do you have any guidance on how I should explain it to them? What federal directives to have them reference, or how I can phrase it so they understand it?
Thanks for the help!!
May 3, 2014
I definitely understand your lender frustration with this issue. It is a common problem.
Today I wrote an article addressing the questions you raised: https://studentloansherpa.com/income-based-repayment-calculations-married-couples/
Hopefully it helps!
Thank you so much. I called them and we are all on the same page now.
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