Income-based repayment calculator

• Available for payments made on or after July 1, 2009 for:
  • Federal Stafford (subsidized and unsubsidized) loans,
  • Grad PLUS, and
  • Consolidation Loans which do not include any Parent PLUS loans.
• The payment amount is adjusted based on income and family size.
• The payment will not be more than 15 percent of the amount by which your adjusted gross income exceeds 150 percent of the poverty line for your residence and family size.
• The monthly payment amount may be lower than monthly interest accrual. If the monthly amount is not enough to pay accrued interest on a subsidized Federal Stafford Loan or the subsidized portion of a Federal Consolidation Loan, the Department of Education will pay the remaining interest for the first three consecutive years from the date the borrower first qualified for income-based repayment on that loan. This 3-year period does not include any period during which the loan is in an Economic Hardship deferment.
• Your eligibility is re-evaluated annually.
• More interest may accrue over the life of the loan because the principal balance decreases at a slower rate.
• The outstanding loan balance, if any, will be forgiven after 25 years and 300 qualifying payments. The amount that is forgiven may be taxable.

Enter your loan information (amounts and interest rates) in the calculator below to estimate your monthly payment amount under the income-based repayment plan.

• The loan type and interest rate are preset; however, you can change these.
• When entering dollar amounts, do not use commas or decimals. For example, enter $1,000 as 1000.