The student loan repayment calculator compares federal repayment plans side by side — Standard, SAVE, PAYE, IBR, and ICR — showing monthly payments, total amount paid, and estimated forgiveness for each. Estimates based on general formulas. Financial aid and exact payments vary. Consult your loan servicer or studentaid.gov for official payment amounts.
Your Loan & Income Information
Repayment Plan Comparison
Monthly payment, total paid, and forgiveness after term ends
| Plan | Monthly Payment | Term | Total Paid | Forgiven | Best For |
|---|
PSLF Note
If you work for a qualifying government or non-profit employer, you may qualify for Public Service Loan Forgiveness after 120 payments (~10 years) on an income-driven plan. PSLF forgiveness is tax-free. Use studentaid.gov to verify employer eligibility.
How to Compare Federal Student Loan Repayment Plans
The student loan repayment calculator shows how income-driven repayment plans compare to the standard plan, helping you choose the right strategy for your income level and career path.
Standard vs. Income-Driven Repayment
The Standard plan pays off your loan in 10 years with the highest monthly payment but the least total interest. Income-driven plans (SAVE, PAYE, IBR, ICR) cap your payment at a percentage of discretionary income, often reducing monthly payments significantly — but extending the loan term to 20–25 years and increasing total interest paid. The trade-off makes sense if you have high debt relative to income, or qualify for PSLF.
Discretionary Income
IDR plans define discretionary income as your AGI minus 150–225% of the federal poverty guideline for your family size. SAVE uses 225% of the poverty line, giving borrowers a larger income exemption (meaning lower payments). For a single borrower in 2026, the poverty line is about $15,060, so 225% is $33,885 — income below this threshold results in a $0 payment under SAVE.
When to Choose Each Plan
Choose SAVE if you have undergraduate loans and low-to-moderate income — lowest payment of any IDR plan. Choose PAYE if you have high debt and want the 20-year forgiveness timeline. Choose IBR if you borrowed before July 2014 (original IBR has 25-year forgiveness). Choose ICR for PLUS loans — only IDR plan available for Parent PLUS loans (after consolidation). Use Standard if you can afford the payment and want to minimize total interest paid.
FAQ
What is the SAVE repayment plan?
SAVE (Saving on a Valuable Education) is the newest income-driven repayment plan, replacing REPAYE. It caps payments at 5% of discretionary income for undergraduate loans (vs. 10% for REPAYE). Unpaid interest doesn't accrue if you make your required monthly payment. Remaining balance is forgiven after 10–25 years depending on loan amount.
Is this student loan calculator free?
Yes, completely free with no signup required. All calculations run locally in your browser.
Is my data safe?
Absolutely. Everything runs in your browser. No data is transmitted or stored.
What is Public Service Loan Forgiveness (PSLF)?
PSLF forgives your remaining federal loan balance after 120 qualifying payments (10 years) while working full-time for a qualifying public sector or non-profit employer. You must be on an income-driven repayment plan to qualify. Tax-free forgiveness — unlike IDR forgiveness which may be taxable.
What is the difference between subsidized and unsubsidized loans?
Subsidized loans: the government pays interest while you're in school at least half-time and during grace/deferment periods. Unsubsidized loans: interest accrues immediately. Both are eligible for income-driven repayment plans. PLUS loans have higher interest rates and separate repayment plan eligibility.
When is IDR forgiveness tax-free?
Under PSLF, forgiveness is always tax-free. Under IDR plans (SAVE, PAYE, IBR, ICR), forgiveness after 20–25 years has historically been treated as taxable income under federal law. However, through 2025 this forgiveness is excluded from taxable income under the American Rescue Plan. The tax treatment after 2025 is uncertain.