Student Loan Repayment Calculator 2026

Compare Standard, SAVE, IBR, and ICR repayment plans side by side.

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Annual salary increase

SAVE has both the lowest total cost and the lowest monthly payment.

Standard

$380/mo

Total paid$45,581
Total interest$10,581
Payoff10 yr

SAVE

Lowest cost

$82/mo

Total paid$38,681
Total interest$32,102
Payoff20 yr (forgiveness)
Forgiven$28,421

IBR

$263/mo

Total paid$49,170
Total interest$14,170
Payoff12 yr

ICR

$333/mo

Total paid$47,889
Total interest$12,889
Payoff13 yr

Based on 2026 federal poverty guidelines and current repayment plan rules. Does not constitute financial advice.

How it works

Enter your total federal loan balance, weighted average interest rate, annual income, and family size. The calculator computes monthly payments under each repayment plan:

Standard: Fixed payments over 10 years. Lowest total cost, highest monthly payment.

SAVE: 5% of discretionary income (undergrad) or 10% (grad). Forgiveness after 20/25 years. Unpaid interest does not capitalize.

IBR: 10-15% of discretionary income depending on when you first borrowed. Forgiveness after 20/25 years.

ICR: 20% of discretionary income or 12-year fixed payment adjusted for income, whichever is less. Forgiveness after 25 years.

For income-driven plans, we project income growth over the repayment period and show how payments increase over time. Total cost includes all interest paid plus any tax on forgiven balances (forgiveness under IDR plans is currently tax-free through 2025, but may be taxable after).

FAQ

What is the SAVE repayment plan?

SAVE replaced REPAYE. Payments are 5% of discretionary income for undergrad loans, 10% for grad. Income under 225% of the poverty line is protected. Forgiveness after 20-25 years. Unpaid interest doesn't capitalize.

Which plan saves the most money?

Standard 10-year typically has the lowest total cost. Income-driven plans have lower monthly payments but more total interest — unless forgiveness kicks in. Compare your specific numbers above.

Should I refinance my student loans?

Only if you can get a significantly lower rate AND don't need income-driven repayment or forgiveness. Refinancing federal loans into private loans permanently removes access to SAVE, IBR, PSLF, and other federal protections.

How does PSLF work?

Public Service Loan Forgiveness forgives your remaining balance after 120 qualifying payments (10 years) while working for government or non-profit. Any income-driven plan counts. The forgiven amount is tax-free.

Is student loan forgiveness taxable?

PSLF forgiveness is always tax-free. IDR forgiveness was made tax-free through 2025 by the American Rescue Plan. After 2025, forgiven balances under IDR plans may be taxed as income. Check current law when your forgiveness date approaches.

How is my IBR payment calculated?

IBR sets your payment at 10% of discretionary income (new borrowers after July 2014) or 15% (older borrowers). Discretionary income = AGI minus 150% of the federal poverty line. If this exceeds the Standard 10-year payment, you pay the Standard amount instead. Forgiveness after 20 or 25 years.

What is the difference between SAVE, IBR, and ICR?

SAVE: 5% of discretionary income (undergrad), 225% poverty line threshold. IBR: 10-15%, 150% threshold. ICR: 20% or 12-year fixed (whichever is less). SAVE generally has the lowest payments; ICR the highest. All forgive remaining balance after 20-25 years. Compare your specific numbers above.

Related tools

Based on current federal repayment plan rules. Repayment plan rules may change. Does not account for private loans. Consult your loan servicer for official payment amounts.