Income-based repayment calculator
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 them.
- When entering dollar amounts, do not use commas or decimals. For example, enter $1,000 as 1000.
Income-based repayment calculation
- Available for payments made on or after July 1, 2009 for the following loan types:
- Direct Subsidized or Unsubsidized Loans
- Federal Stafford Loans (subsidized or unsubsidized)
- Direct PLUS Loans for graduate and professional students
- Federal PLUS Loans for graduate and professional students
- Direct Consolidation Loans that do not include any parent PLUS Loans
- Federal Consolidation Loans that do not include any PLUS loans for parents
- The payment amount is adjusted based on income and family size.
- The payment is not 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 the monthly interest accrual. If the monthly amount is not enough to pay accrued interest on a Direct Subsidized or Unsubsidized Loan or Federal Stafford Loan (subsidized or unsubsidized) or the subsidized portion of a Direct Consolidation Loan or Federal Consolidation Loan, the Department of Education pays the remaining interest for the first three consecutive years from the date you 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.
- If you are married, you and your spouse can apply based on combined student loan debt.
- Your payment 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, is forgiven after 25 years and 300 qualifying payments. The amount forgiven may be taxable.