Student loan
IDR comparison.
Federal student loans have several income-driven repayment plans. Each uses a different formula for your monthly payment. This tool compares the big ones so you can see the monthly payment, the interest you actually pay, and any balance forgiven at the end of the term under each.
SAVE was the newer Biden-era plan; its availability is in legal flux as of 2026. Verify plan availability at studentaid.gov before enrolling.
Public Service Loan Forgiveness (PSLFPublic Service Loan Forgiveness (PSLF)A federal program that forgives remaining student loan balances after 10 years of qualifying payments while working for a government or nonprofit.) is available to federal, state, and nonprofit employees. 120 qualifying monthly payments while employed full-time at a qualifying employer discharges the remaining balance tax-free. See the student loan strategy page.
What this tool assumes
- Standard 10-year plan uses standard amortizationamortizationThe process of paying off a loan through regular payments that cover both principal and interest.Full definition at the weighted average rate.
- 2026 Federal Poverty Guidelines (HHS ASPE, published January 2026): $15,960 (48 states) / $19,950 (AK) / $18,360 (HI) for household of 1; +$5,680 / +$7,100 / +$6,530 per additional person.
- IBR discretionary income = AGIAdjusted Gross Income (AGI)Your total income minus certain deductions, used to calculate your tax bill.Full definition minus 150% of FPL. Monthly payment = 10% of discretionary income / 12.
- PAYE discretionary income same definition. Monthly payment = 10% of discretionary / 12. Cap at standard-plan payment.
- SAVE (if available) discretionary income = AGI minus 225% of FPL. 5% of discretionary for undergrad, 10% for grad, blended for mix.
- Each plan is simulated month by month: interest accrues on the outstanding principal at the annual rate divided by 12, and the payment covers accrued interest first, then principal. If the payment does not cover the month's interest, the unpaid interest accrues without capitalizing (it does not itself earn interest). Pre-SAVE plans can capitalize interest in certain events, which this tool does not model.
- The monthly payment is held constant for the whole simulation; annual income recertification and payment growth are not modeled.
- Interest shown is interest actually paid. If the payment retires the loan before the plan term ends, the payoff time is shown instead of the full term.
- Forgiveness timeline: IBR 20/25 years, PAYE 20 years, SAVE 20 years (undergraduate-only loans) or 25 years (any graduate loans); SAVE's separate 10-year path for small original balances (roughly $12,000 or less) is not modeled here. Any balance remaining at the end of the term (principal plus accrued unpaid interest) is forgiven, and the forgiven amount may be taxable.
Federal student loan rules are changing rapidly. Always confirm plan terms at studentaid.gov. Educational only; not financial advice.
HOW THIS IS CALCULATED
This tool runs entirely in your browser — no data is sent to any server. All formulas use standard financial math. Verify the methodology or inspect the source code in your browser's dev tools.