Student Loans and IBR

[futurehomeowner?]

My wife has student loans through AES. They are coming out of deferment in March. Last week she unfortunately lost her job so now we only have 1 income. I was looking at the IBR and was thinking about applying but I can't not find any chart that tells you what your monthly payment would be. Do they publish this anywhere? We definitely need to do this by March but if we don't qualify for a $0 payment then there would be no benefit to do it now.

[hodap2001]

Check out the calculator at FinaAid.org. It's a good estimate calculator along with the calculator at StudentAid.gov under repay your loans.

 

Good Luck!!

[futurehomeowner?]

ohhh duhhh. I searched all over AES website but didn't think there were other sites that had that info.

 

I just read that if there is a significant change in your income compared to last years taxes then they will require proof of change. How do you prove that you no longer have a job?

[futurehomeowner?]

and for anyone else that may be searching the same question. The site that hodap listed has a calculator and it also has a chart that shows the payment amount based on income and family size.

http://studentaid.ed.gov/sites/default/files/income-based-repayment.pdf