February 20, 2015
3 years ago I put my 38K loan in IBR status. 2 years ago I got married. So my spouse and I filed jointly based on our CPA’s advice for 2013. Will this adversely affect my IBR status? If so should I file separately this tax year?
May 3, 2014
To answer your questions, filing jointly vs. separately will absolutely affect your IBR payments. If you file jointly both your incomes are used in calculating your IBR payments, but filing separately means they will only use your income. When deciding one filing jointly vs. separately you have to compare the tax savings against the IBR monthly payment savings. What is best will vary from situation to situation.
We explored this topic in detail in this article, hopefully it will help: https://studentloansherpa.com/…..repayment/