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IBR payments for spouses with 2 different lenders
April 2, 2020
8:53 pm

So we just had to recertify our IBR payments for this year. Our income went up last year so I was expecting an increase. BUT… for years now our payments have been about equal (within 5-10 dollars of each other) now this year my payment is suddenly $100 more than his. In spite of the fact that he actually owes about $15,000 more than me (although he originally borrowed about $5000 less, but got higher interest rates.) and the income is almost entirely his. I called my lender but the rep really couldn’t explain this – he just kept saying it was due to increased income.

For reference basic details
Family of 3.
I owe: $45,600
Old payment: $39/mo New pymt: $220
He owes$61,900
Old payment: $37/mo. New pymt: $113

Is there a reasonable explanation for this? Or have they made a mistake somehow?
If not a mistake, would it be a good idea to try to switch to his lender. Is that even allowed?

Thank you for any information.

April 9, 2020
5:16 pm
Forum Posts: 357
Member Since:
May 3, 2014
sp_UserOfflineSmall Offline

Hi Jessica,

Sorry for the late response… somehow I missed this post at first.

Based upon the numbers you have provided, something definitely seems off. The loan simulator from the Department of Education should provide you with a more accurate estimate on what the numbers should be: https://studentaid.gov/loan-simulator/

Id suggest having the simulator results in front of you and then placing a call to your lenders to get it resolved.

Best of luck to you!

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