I am in my 3rd year of an IBR plan. Since my 2012 income certification, we’ve had a new baby and my husband has taken a new job with a lower gross pay but much higher quality of life.

My payment for the past year has been around $330. With the income/family size changes, we should be at around $280 by my calculations for the next year. Edfinancial says my new payment is a whopping $10.

What do I do? Obviously, they need to correct it (sad face, $270 extra a month would be nice) but the telephone CSRs act like I am nuts for wanting a higher payment and I’m getting nowhere on my attempt to correct it. One CSR mentioned something about July 2010, like maybe this payment accounts for me paying too much for a while, but that makes no sense & Edfinancial just started servicing my loan last fall.

What’s the worst that can happen if it isn’t corrected? I don’t want some massive bill in a few months.