We need to know your tax filing status because this affects your monthly payment on an Income-Driven Repayment Plan. If you file separately, your servicer will only use your income to determine your monthly payment. If you file jointly, you and your spouses’ income will be used. Typically, if you file separately you’d have a lower monthly payment because it would be a lower income. However, this is only true for the PAYE, IBR, and ICR plans. If you are enrolled in the REPAYE plan, they will take you and your spouse’s income into account, even if you file separately.
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.