Repayment plan comparison calculator

How this calculator works

This calculator simulates all seven major federal student loan repayment plans using your loan balance, weighted average interest rate, adjusted gross income, and family size. For each plan it estimates the year-one monthly payment, total amount you would pay out of pocket, any balance forgiven at the end of the plan term, and how long until payoff or forgiveness. Income-driven plans use the 2026 federal poverty guideline to compute discretionary income at 150%, 225%, or 100% of poverty depending on the plan. Payments are capped at the Standard 10-year amount (ICR uses a 12-year cap). SAVE includes the federal interest subsidy when your payment does not cover monthly interest. Results update instantly in your browser — nothing is sent to a server.

The output is a side-by-side comparison, not an enrollment form. Servicer calculations may differ slightly due to rounding, partial months, or loan-level details this tool consolidates into one balance. Confirm any plan change with your servicer and the Federal Student Aid Loan Simulator before submitting an application.

Plan availability note: Federal IDR rules continue to change. SAVE enrollment and interest-subsidy treatment have been affected by litigation and Department of Education updates, and newer options such as the Repayment Assistance Plan (RAP) are not modeled here. Treat SAVE/PAYE/IBR/ICR figures as educational estimates and confirm current plan options with your servicer or StudentAid.gov.

What affects the result

Your AGI and family size are the biggest drivers of IDR payments. A higher AGI raises discretionary income and monthly payments across SAVE, PAYE, IBR, and ICR. Family size increases the poverty threshold, which lowers discretionary income and can reduce payments. Loan balance and interest rate matter most for Standard, Graduated, and Extended plans where payment is based on amortization, not income. Grad/mixed loan type raises the SAVE percentage from 5% to 10% of discretionary income and can extend the forgiveness timeline. IBR eligibility (new vs. old borrower) changes the payment percentage from 10% to 15%. Turning on PSLF forces a 120-month forgiveness horizon on qualifying IDR plans regardless of the plan's normal 20- or 25-year IDR forgiveness clock.

Real-world examples

Example 1 — New graduate, moderate income: Maya owes $35,000 at 6.5% with $55,000 AGI and family size 1. Standard 10-year runs about $397/month while SAVE drops near $80/month. SAVE lowers cash flow now but may forgive a remaining balance after 20 years — with potential tax implications.

Example 2 — Low income, $0 payment: A borrower with AGI below 225% of poverty on SAVE can qualify for a $0 monthly payment. That payment still counts toward IDR forgiveness and PSLF if other requirements are met — a reason to certify income promptly after leaving school.

Example 3 — PSLF candidate: Jordan works full time for a qualifying employer and enables PSLF mode. The calculator highlights the lowest monthly IDR payment because extra payments do not speed PSLF — only qualifying payments count.

Example 4 — High earner capped at Standard: When AGI is high enough that IDR math exceeds the Standard payment, SAVE, PAYE, IBR, and ICR all cap at the same Standard 10-year amount. In that case plan choice matters less for payment size and more for forgiveness timeline and subsidy rules.

Example 5 — Family of four on SAVE: A borrower with $42,000 balance, $48,000 AGI, and family size four sees a lower discretionary income than family size one at the same AGI — the poverty guideline rises with household size, reducing payment.

Example 6 — Married borrower filing jointly: Combined AGI of $110,000 on PAYE can produce a higher payment than the single borrower earning $55,000 alone. Pair with the marriage & IDR calculator if you are weighing MFJ vs. MFS.

Common mistakes

Comparing only monthly payment. The cheapest monthly option is not always the cheapest lifetime cost. Read the total paid column alongside monthly payment.

Ignoring forgiveness tax risk. Non-PSLF IDR forgiveness may trigger a large tax bill in the forgiveness year. Factor that into long-term planning.

Using gross pay instead of AGI. IDR payments are based on AGI from your tax return, not your gross salary. Enter AGI for accurate results.

Wrong IBR version. Selecting new vs. old IBR changes the payment percentage materially for the same income.

Assuming Graduated or Extended qualify for PSLF long term. Only qualifying IDR and Standard 10-year payments count. Graduated and Extended are poor PSLF strategies if payments are not qualifying.

Overpaying while pursuing PSLF. Extra payments do not accelerate PSLF. Compare plans with PSLF mode on before sending additional principal.

When to use this calculator

Use this tool when you are choosing a federal repayment plan at the start of repayment, recertifying income on IDR, or deciding whether Standard 10-year is affordable. It is especially useful if you are weighing SAVE vs. PAYE vs. IBR, modeling PSLF payments, or comparing a fixed plan against income-driven relief. Pair results with the Federal Student Aid Loan Simulator and your servicer's official payment quote before enrolling. The first 90 days guide walks through enrollment timing for new borrowers.

Limitations

Private loans are excluded. Forgiveness tax on non-PSLF IDR balances is flagged but not quantified. Payment recertification mid-year is not modeled — year-one payment is held constant unless you change inputs. FFEL and Perkins loans without Direct consolidation may not match these federal plan options. SAVE program rules have been subject to litigation — verify current eligibility and subsidy treatment with Federal Student Aid. Spousal loan balances and filing status nuances require the marriage & IDR calculator.

Sources

1. Federal Student Aid — Income-driven repayment plans
2. Federal Student Aid — Public Service Loan Forgiveness
3. HHS — 2026 federal poverty guidelines