At age 70, much of taxi driver Qudratullah Saberry’s stress comes from the overwhelming sense that he will never be able to retire or spend enough quality time with his wife and 8-year-old daughter, and knowing that despite working 12 hours shifts, he will likely never be able to pay back $550,000 he still owes on a taxi medallion, purchased in 2007.

Saberry has been driving taxis for nearly 30 years.

“Starting this month, the banks want us to pay the full amount, which is $2,200 each month,” Saberry says. “I won’t be able to do that. Never, ever!”

Saberry says even with the city announcing a $65 million Medallion Relief Program Saturday, meant to help drivers like him, he and dozens of others protested outside City Hall Sunday to let the mayor know the program doesn’t do nearly enough to provide relief.

“The mayor is trying to encourage the banks to charge us more every month, mortgage,” Saberry says. “With this plan, the banks are charging us $2,000 a month. That’s too much.”

The city says the program will provide participants with a $20,000 down payment to restructure medallion-related loans.

Bhairavi Desai, the executive director of the NY Taxi Workers Alliance, describes the plan that the Taxi and Limousine Commission has put forward as a band aid that doesn’t solve the crisis facing approximately 6,000 families of yellow cab drivers.

“Owner/drivers are saying, bring the debts to something that everybody can pay off, like $145,000, at $800 a month,” Desaid says, “and then if the city guarantees these loans, then even if there is a default, the owner/driver will not have to face a lien on their home or on their bank account.”

Desai says taxi drivers will be maintaining a 24/7 presence outside City Hall until their voices are heard and changes are made.

In the meantime, Saberry continues to grieve the loss of two taxi driver friends, who recently died by suicide, due financial hardships.

“It’s too much pressure on you,” Saberry says. “People, when they cannot cope with this kind of pressure, they commit suicide. I won’t do that. But I’m a human being, too.”

When asked for a comment on Sunday’s protest, a spokesperson for the Mayor’s Office told NY1 the plan announced Saturday is working.