Getting IBR Payments Lower

[ToasterThief]

I'm going to try to do Special Direct Loans Consolidation. Because of the June 30th deadline for this I'm going to lose the grace period of my Stafford Loans and will begin payments soon after starting residency. My current plan is to try for IBR. I understand that I can get lower payments during internship since I'll only be working for ~6 months during 2012. I understand that I'll have to submit an Alternative Documentation of Income Form. What's the best way to fill this form out/what kind of supporting documentation do I need to ensure that my AGI is ~25k and not 50k?

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[TMP-SMX]

File this form Consent to disclose IRS income to prove your income for 2011 so you can prove that your annual income is not a fabrication.

 

[badasshairday]

Is it impossible to get an IBR payment of zero dollars your intern year if you did not file for taxes your 4th year of med school?

I assume if you did not file for taxes they require the Alternative Documentation of Income Form from your internship program. Is this correct?

 

[Roguelyn]

My IBR was zero dollars the first part of residency but I did file the year previously. It's now ~200/month.

 

[badasshairday]

My IBR was zero dollars the first part of residency but I did file the year previously. It's now ~200/month.

I knew I screwed up. Should have filed. I realized that on the afternoon taxes were due. Since I do not have a file that says zero dollars I'm sure my servicer will have me send in an Alternative Documentation of Income which will be my residency salary stub or whatever..

 

[Roguelyn]

I knew I screwed up. Should have filed. I realized that on the afternoon taxes were due. Since I do not have a file that says zero dollars I'm sure my servicer will have me send in an Alternative Documentation
of Income which will be my residency salary stub or whatever..

Can you file late? You could drop in at one of those free tax places and ask, I suppose.

 

[TMP-SMX]

Yeah but it depends on your family size and how much you make.

 

[PetMySausage]

You can try ICR if IBR doesn't work, it's sorta the same, but it takes other non-gov. loans into consideration along with income. It might work.