Need some help! My student loans are killing me…. Minimum payment of $1400 a month on income driven. I do have a great salary but am the only income for my family of 4. I also live in NY where property and taxes are high. What can I do to get this lowered? I tried calling and they told me that’s the lowest payment because of my income. All federal loans.

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I mean you can refinance… but you lose federal protections

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They don’t take dependents into account on the forms? That seems insane to me.

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Did you link to your last IRS tax return too? $1,400 a month seems crazy with providing for that many—unless you have a spouse with income that’s adding to it?

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Can you move out of NY? How much do you make?

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Depending on how much you’ve got left, may be worth moving to a different payment plan. I was on IDR w just $16k left (once $100k), but with interest coming back online and providers changing and general confusion (SAVE plan does no better for me) my IDR monthly payment became $1,300. I changed to a graduated 20year plan and it dropped my mandatory payment to under $200. I still plan to pay way more monthly and finish it off in a year or two, but switching to graduated gave me a lot of breathing room

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Hey OP, which IDR plan are you on, and did you have them run the estimates on other options? I called my loan servicer when they rolled out that new plan, and it lowered my payments a lot, but some IDR plans are better than others depending on your personal situation. They should be taking your dependents into account as well; I know they asked me. Otherwise, maybe try to find a financial planner who specializes in student loans (they exist, I promise; try googling Jessica Medina to get an idea of what to look for near you). Good luck!

I’m following for any info shared on this thread. I’m in a similar boat $1300/mo. My servicer initially had me on an IDR plan at $550/mo but then it was updated specifically to the SAVE plan. I contacted them to try to get back to the $550/mo but no luck - they just put me back on the SAVE with the same $1300/mo.

I think I'd try to switch payment plans, but agreed with the others in the comments that it seems like they aren't taking dependents into account

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