I wasn’t paying attention to my account and my IBR anniversary passed last month. This resulted in a bill nearly $1,000 higher than normal. Luckily I had enough in my account to cover the charge.

Is there any chance I will get a refund for the overpayment after the income recertification is complete? My payment should be less than $300.

Has anyone been through this?

This happened to me. It’s not likely will get a refund. Buy the time you jump through those hoops, it will be time to recertify for 2015. Take your losses and make sure to be proactive in the future. Now I file this paperwork early and hound them for confirmation it was received. I also send paperwork via registered or certified mail to make sure there is a record it was received by them, in case there is a dispute in the future.

Thanks. You are correct. No refund, but I was able to do a 2 month forbearance to make up a bit of the loss. The payment was so big it basically drained my checking.

The paperwork was actually really easy. I did it all online, and my payment was recalculated within 3 weeks.

I’m going to do the recertification every year on my brother’s birthday from now on. This way I won’t forget either one!

Just make sure the forbearance doesn’t cause a capitalization.