Showing results for 
Search instead for 
Did you mean: 

Federal Loan IBR repayment plan affect on spouse

Auto Loans for ANY Credit Situation. Immediate Response.
Advertiser disclosure

Federal Loan IBR repayment plan affect on spouse

My wife will be applying for an IBR payment repayment plan and I have a couple questions.


1. Is it true that they look at the Adjusted Gross Income on the tax form and not just the total of wages? We have business write offs that keeps our AGI low.


2. The IBR plan wants the spouse to sign, am I now cosigning for her loan?


3. For those spouses that have signed, does this show up as a new loan on your credit report?



Message 1 of 3
Valued Contributor

Re: Federal Loan IBR repayment plan affect on spouse

You should only be signing that your income is correct and you give permission to pull IRS docs.


Her payment is based on both of your incomes.



Rebuild started in 2014  -  $100k+ unsecured credit in 2017  -  $250k+ unsecured credit in 2019.


10% Rotating - Discover                    5%-20% - Amazon & Lowes                3-6% Groceries - NFCU & Amex Preferred
3-5% Gas - NFCU & Ducks Unl         4% Dining & Entertain - Savor            3% Travel & Hotels - Flagship, Propel, & Uber
2% Everything Else - Flagship          1% Cancer Charity - Fifth Third          0% Finance Promos - Venture & QuickSilver

Message 2 of 3
Valued Contributor

Re: Federal Loan IBR repayment plan affect on spouse

1. On IBR, if you file jointly as married, they will require the AGI for both of you. You'll both have to sign that the information on the application is true or you could be fined, imprisoned, etc.
On IBR, if you file separately as a married couple, they will only take her income into account. If she is eligible for REPAYE, a different IDR plan, the percentage of her disposable income they take will take is lower (vs IBR, married filing jointly), likely 10% vs 15%. You would have to apply her loan details. On REPAYE they would also take into account your federal student loans if you have any, further lowering the payment.
I don't think it would show up as a new loan because it's not making the loan yours. You're just obligated to provide truthful information.

Message 3 of 3
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.