Typically speaking, your payments cannot be recalculated unless your family size, filing status, or income change. However, there are some options:
If you feel the amount calculated was in error, you can submit a re-calculation request. We can help to double-check the income documentation you sent, and see how your current/approved payment compares to our Savi IDR calculator.
Sometimes for borrowers with higher than average income can switch back to a Non-Income-Driven repayment plan. These repayment plans may have a lower payment (which help with monthly cash flow), but they would make your loans ineligible for Public Service Loan Forgiveness.
Another option (for future repayment plan applications) is to consider filing separately next time you do your taxes. You would want to weigh the benefits of this option against the benefits of your current Jointly filing status to see which filing status is best for you and your spouse.
That being said, Savi is not a financial advisor, and you should consult with your financial advisor to determine if filing separately is an option for you. Filing separately may mean you’re no longer eligible for certain tax breaks and deductions, which is why we cannot recommend you file one way or another, and why you should consult with a financial advisor.