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Calculate Your Monthly Payment. Our Income-Based Repayment calculator compares existing income-driven plans to the new SAVE plan finalized by President Biden in 2023. This calculator also uses the latest 2024 federal poverty line numbers. We can help if you don't know what to do with your loans.
Monthly IBR Payment: The payment amount based on your discretionary income, shown as (discretionaryIncome * 0.10) / 12. 10-Year Standard Payment: How much your monthly payments would be under a standard 10-year plan, calculated with a special formula involving your loan balance and interest rate.
This calculator determines the monthly payment and estimates the total payments under the income-based repayment plan (IBR).
This student loan Income-Based Repayment (IBR) calculator shows your monthly payment, monthly savings, and total amount of student loan forgiveness for IBR.
The IBR is the only income-driven repayment plan where FFELP loans are eligible. Monthly Payment Calculation. Your monthly payments will be based on your eligible federal student loan debt, family size, and your income.
Repayment Plan Calculations: IBR (Any loans disbursed before July 1, 2024) : Payments are calculated at 15% of Discretionary Income, where Discretionary Income = AGI minus 150% of FPL. REPAYE/PAYE and IBR for New Borrowers (First loan disbursed on or after July 1, 2014) : Payments are calculated at 10% of Discretionary Income, where ...
With our free income-based repayment plan calculator, you can see if you are eligible for a lower monthly payment. Your new monthly payment will be dependent on factors such as income and family size, as well as life changes.
