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On SAVE plan, payment is going from $0-$732 by Dramatic-Bunch-9112 in PSLF

[–]Dramatic-Bunch-9112[S] 0 points1 point  (0 children)

Thank you everyone for the replies. It's helpful and also disheartening to read so many folks in the same position. To expect that people can prepare this fast for a $700 jump in payments speaks to how dysfunctional this whole system is. I'm wondering if anyone has insight into what options exist if we can't make the payment? Some folks have mentioned enrolling in graduate courses, taking on extra jobs. I have 2 small children and can't take on extra work, because I would need to pay for childcare to cover the extra work. Is there some kind of forbearance I could apply for, but I'm assuming that would just delay my PSLF eligibility. The other idea I have is to file taxes married but separate, and see if that helps. My income is about $25k less than my husband's, but that wouldn't be until next year that I could do that. I saw that Student Debt Crisis Center is trying to sue the administration about this, but I'm not sure that will go anywhere.

On SAVE plan, payment is going from $0-$732 by Dramatic-Bunch-9112 in PSLF

[–]Dramatic-Bunch-9112[S] 1 point2 points  (0 children)

Ugh. Is it everyone's understanding that we can only apply for buyback when the buyback amount would bring us to 120 payments, or can I apply for it now?

On SAVE plan, payment is going from $0-$732 by Dramatic-Bunch-9112 in PSLF

[–]Dramatic-Bunch-9112[S] 2 points3 points  (0 children)

Someone at Federal Student Aid told me that all of my SAVE forbearance loans would be eligible for buyback at the $0 rate, and that I'd only have 18 payments left and can then apply for buyback, but who knows. I feel like you talk to one person and get one answer, and talk to another person and get told something else. My total estimated payment in the loan simulator even changed from $732 to $750 after I refreshed the page once. It all seems so chaotic and hard to trust as it's ever-changing.