Student Loan Repayment Calculator

As of 2026, federal student loan borrowers can choose from the Standard 10-Year Plan and two income-driven repayment (IDR) options: RAP (Repayment Assistance Plan, created by the One Big Beautiful Bill Act) and IBR. SAVE was terminated by the One Big Beautiful Bill Act after being blocked by a March 2026 court order; PAYE and ICR closed to new enrollment July 1, 2026 and end entirely July 1, 2028. Each plan differs in monthly payment amount, repayment timeline, and total interest paid. The Standard 10-Year Plan has the highest monthly payments but the lowest total cost.

RAP is the new income-driven repayment plan created by the One Big Beautiful Bill Act (P.L. 119-21), available since July 1, 2026, and mandatory for anyone taking out their first federal loan on or after that date. Payments are 1% to 10% of adjusted gross income (AGI), rising one percentage point for each $10,000 AGI bracket above $10,000 (AGI of $10,000 or less pays a flat $10/month minimum), reduced by $50/month per dependent, with a $10/month floor — RAP never allows a $0 payment. Unpaid interest is waived each month instead of being added to the balance, and the government guarantees at least $50/month goes toward principal even if the payment doesn't cover it. Remaining balances are forgiven after 30 years.

Income-driven repayment plans set your monthly payment based on your income and family size, recalculated annually. IBR sets payment at 10% (or 15% for loans first disbursed before July 1, 2014) of discretionary income — the amount your adjusted gross income exceeds 150% of the federal poverty guideline for your household size — capped at what you'd pay on the Standard 10-Year Plan. RAP uses a flat percentage of your full AGI instead of a discretionary-income formula, and is not capped at the Standard payment.

Under income-driven repayment plans, any remaining loan balance is forgiven after the plan's forgiveness timeline: 20 years for New IBR (loans first disbursed 7/1/2014 or later), 25 years for Old IBR (loans before 7/1/2014), or 30 years for RAP. Public Service Loan Forgiveness (PSLF) is available after just 10 years of payments for borrowers working full-time for qualifying government or nonprofit employers. Note that IDR forgiveness is generally treated as taxable income, while PSLF forgiveness is tax-free.