Hi - I have already exhausted my deferment period and my 60 months of forbearance. I have qualified for IBR and my first payment is due in 2 weeks. Even with the lower payment, I still can’t afford to make it monthly. What should I do, I don’t want to default on them. Are there any other options or any advice on what my next step should be?

If you are in a full time position and have little to no discretionary income, there is a SMALL (Infinitesimally Small) chance for Bankruptcy.  Check here:

https://studentaid.ed.gov/repay-loans/forgiveness-cancellation/charts  and here:  http://www.studentloanborrowerassistance.org/bankruptcy/

Please let us know of anything you do.  Unfortunately it seems there are a lot of questions and very few answers (even as seen by the questions vs replies in this forum).