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IBR to Standard due to Marriage- effect on PSLF

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Joined 2017-01-20

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Hi-

I have been on IBR for the last 3.5 years and have 40 qualifying payments. I recently married someone who has significantly higher income than i and the combined income means i am no longer eligible for IBR. We are concerned about filing jointly or separately, it looks it like it would still be cheapest for us to file jointly. If I change to the Standard 10 year replayment plan, with 40 IBR qualifying payments in, will I still have some loan forgiveness?? Of course, when I contact fedloan i was told for some reason Standard 10 year didn’t qualify for PSLF.

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Total Posts: 154

Joined 2015-01-08

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From the income driven repayment plan q and a

20.If I’m repaying under PAYE or IBR, what happens if my income increases so much that I no longer qualify to make payments based on income? Do I then lose eligibility to repay under PAYE or IBR?
No. If your income increases to the point that your calculated PAYE or IBR payment amount is more than the monthly amount you would be required to repay under a 10-year Standard Repayment Plan, you will remain on the PAYE or IBR plan, but your monthly payment will no longer be based on your income. Instead, you will pay the amount you would have been required to pay under a 10-year Standard Repayment Plan. This 10-year Standard Repayment Plan monthly payment amount will be calculated based on the amount of your eligible loans that were outstanding when you first began repayment under the PAYE or IBR plan.
Although your required monthly payment will be the 10-year Standard Repayment Plan amount (as described above), you will continue repaying your loans under the PAYE or IBR plan, and your maximum repayment period will remain at 20 or 25 years.


AFAIK standard 10year payments DO count towards pslf, but I wouldn’t switch to it. Just stay on IBR

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Total Posts: 16

Joined 2019-06-09

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