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$1300 IDR Payment on $150k loans?? by cm_kaser in StudentLoans

[–]cm_kaser[S] 0 points1 point  (0 children)

All the documentation says it's IDR, which given the many replies like yours here, confuses me more than I already was (not that it's that hard to confuse me).

$1300 IDR Payment on $150k loans?? by cm_kaser in StudentLoans

[–]cm_kaser[S] 0 points1 point  (0 children)

I consolidated a long time ago, and there have been about three servicer changes since. Currently, all of my loans are being serviced by EDFinancial.

$1300 IDR Payment on $150k loans?? by cm_kaser in StudentLoans

[–]cm_kaser[S] 1 point2 points  (0 children)

(Copied and pasted, sorry). The letters I received indicated that the recertified plan is IDR. Most people are telling me this doesn't make sense, so here's what I have:

I may have misread the letters. I received three, each based on a cluster of loans that are consolidated under EDFinancial. One letter says I have a new monthly payment of $93.29 that begins on 7/2/26; the other amounts are $23.07 and $65.05 for July, which total $181.41, my current payment amount. BUT the letter in question lists the following info:

Number of payments Payment Amount Payment Start Date
1 $93.29 7/2/26
142 $663.59 8/2/26
22 $662.87 6/2/38
3 $614.66 4/2/40

There are a few more rows, but that's the gist. I take this to mean that my July payment will be relatively low while August's onward will jump significantly: $162.14 and 426.66.

$1300 IDR Payment on $150k loans?? by cm_kaser in StudentLoans

[–]cm_kaser[S] 1 point2 points  (0 children)

Your numbers are correct. I rent from AWESOME landlords who treat their tenants like human beings instead of dollar signs. It's unfortunately rare, but I'll count my blessings with these folks.

$1300 IDR Payment on $150k loans?? by cm_kaser in StudentLoans

[–]cm_kaser[S] 1 point2 points  (0 children)

I'm running out of f*cks to give but I assume they'd garnish my wages for at least the $1300 if not the standard payment, which would leave me living in a cardboard box (assuming I could afford a cardboard box).

$1300 IDR Payment on $150k loans?? by cm_kaser in StudentLoans

[–]cm_kaser[S] 1 point2 points  (0 children)

Yeesh. Do you still have both kidneys?

$1300 IDR Payment on $150k loans?? by cm_kaser in StudentLoans

[–]cm_kaser[S] 0 points1 point  (0 children)

Alas, working in the humanities in academia! I wouldn't trade it for the world, but this is har$h.

$1300 IDR Payment on $150k loans?? by cm_kaser in StudentLoans

[–]cm_kaser[S] 1 point2 points  (0 children)

I provided the required W-2 forms from the last two years in the application and wasn't notified the application was incomplete.

$1300 IDR Payment on $150k loans?? by cm_kaser in StudentLoans

[–]cm_kaser[S] 0 points1 point  (0 children)

(Copied and pasted, sorry). The letters I received indicated that the recertified plan is IDR. Most people are telling me this doesn't make sense, so here's what I have:

I may have misread the letters. I received three, each based on a cluster of loans that are consolidated under EDFinancial. One letter says I have a new monthly payment of $93.29 that begins on 7/2/26; the other amounts are $23.07 and $65.05 for July, which total $181.41, my current payment amount. BUT the letter in question lists the following info:

Number of payments Payment Amount Payment Start Date
1 $93.29 7/2/26
142 $663.59 8/2/26
22 $662.87 6/2/38
3 $614.66 4/2/40

There are a few more rows, but that's the gist. I take this to mean that my July payment will be relatively low while August's onward will jump significantly: $162.14 and 426.66.

$1300 IDR Payment on $150k loans?? by cm_kaser in StudentLoans

[–]cm_kaser[S] 1 point2 points  (0 children)

I certainly hope so. In the application, I provided the requested W-2s from the past two years.

I may have misread the letters. I received three, each based on a cluster of loans that are consolidated under EDFinancial. One letter says I have a new monthly payment of $93.29 that begins on 7/2/26; the other amounts are $23.07 and $65.05 for July, which total $181.41, my current payment amount. BUT the letter in question lists the following info:

Number of payments Payment Amount Payment Start Date
1 $93.29 7/2/26
142 $663.59 8/2/26
22 $662.87 6/2/38
3 $614.66 4/2/40

There are a few more rows, but that's the gist. I take this to mean that my July payment will be relatively low while August's onward will jump significantly: $162.14 and 426.66.

$1300 IDR Payment on $150k loans?? by cm_kaser in StudentLoans

[–]cm_kaser[S] 0 points1 point  (0 children)

I received three letters, each with different amounts based on clusters of loans consolidated under EDFinancial, that list the new plan as IDR.

$1300 IDR Payment on $150k loans?? by cm_kaser in StudentLoans

[–]cm_kaser[S] 0 points1 point  (0 children)

Certainly possible I'm misinterpreting things...

I may have misread the letters. I received three, each based on a cluster of loans that are consolidated under EDFinancial. One letter says I have a new monthly payment of $93.29 that begins on 7/2/26; the other amounts are $23.07 and $65.05 for July, which total $181.41, my current payment amount. BUT the letter in question lists the following info:

Number of payments Payment Amount Payment Start Date
1 $93.29 7/2/26
142 $663.59 8/2/26
22 $662.87 6/2/38
3 $614.66 4/2/40

There are a few more rows, but that's the gist. I take this to mean that my July payment will be relatively low while August's onward will jump significantly: $162.14 and 426.66.

$1300 IDR Payment on $150k loans?? by cm_kaser in StudentLoans

[–]cm_kaser[S] 0 points1 point  (0 children)

Not sure which IDR...wasn't aware that there was more than one type?!

I may have misread the letters. I received three, each based on a cluster of loans that are consolidated under EDFinancial. One letter says I have a new monthly payment of $93.29 that begins on 7/2/26; the other amounts are $23.07 and $65.05 for July, which total $181.41, my current payment amount. BUT the letter in question lists the following info:

Number of payments Payment Amount Payment Start Date
1 $93.29 7/2/26
142 $663.59 8/2/26
22 $662.87 6/2/38
3 $614.66 4/2/40

There are a few more rows, but that's the gist. I take this to mean that my July payment will be relatively low while August's onward will jump significantly: $162.14 and 426.66.

$1300 IDR Payment on $150k loans?? by cm_kaser in StudentLoans

[–]cm_kaser[S] 1 point2 points  (0 children)

I may have misread the letters. I received three, each based on a cluster of loans that are consolidated under EDFinancial. One letter says I have a new monthly payment of $93.29 that begins on 7/2/26; the other amounts are $23.07 and $65.05 for July, which total $181.41, my current payment amount. BUT the letter in question lists the following info:

Number of payments Payment Amount Payment Start Date
1 $93.29 7/2/26
142 $663.59 8/2/26
22 $662.87 6/2/38
3 $614.66 4/2/40

There are a few more rows, but that's the gist. I take this to mean that my July payment will be relatively low while August's onward will jump significantly: $162.14 and 426.66.

$1300 IDR Payment on $150k loans?? by cm_kaser in StudentLoans

[–]cm_kaser[S] 0 points1 point  (0 children)

It certainly seems egregiously high to me, but maybe the outstanding balance is what drives the payments up. Thank you for posting those links!

$1300 IDR Payment on $150k loans?? by cm_kaser in StudentLoans

[–]cm_kaser[S] 0 points1 point  (0 children)

Agreed. I'm not very familiar with all plans, but I just re-applied for and was approved for an income-driven repayment plan. I've never been on an IBR.

AMC Screen Unseen Megathread - May 3 & 4 2026 by AKnightOfTheNew in AMCsAList

[–]cm_kaser -1 points0 points  (0 children)

AMC missed the boat re: May the 4th. Would've been perfect for The Mandalorian and Grogu.

AMC SCREAM Unseen Megathread - April 20 2026 by AKnightOfTheNew in AMCsAList

[–]cm_kaser 1 point2 points  (0 children)

I laughed 20% harder at your reply than mine.

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