Student Loan Repayment Plan Comparison Calculator
Choosing between a standard repayment plan and an income-driven repayment (IDR) plan can dramatically change how much you pay and when your loan is forgiven. This calculator projects both paths side-by-side using your loan balance, interest rate, income, and family size.
About this calculator
Compare standard student loan repayment against an income-driven repayment plan, including total interest paid and forgiveness timeline.
Frequently Asked Questions
How is discretionary income calculated?
This calculator estimates discretionary income as your annual income minus 150% of the federal poverty guideline for your family size, which mirrors common IDR formulas.
Does the forgiven amount include tax implications?
No, forgiven balances under IDR plans may be treated as taxable income depending on current law — check with a tax professional for your specific situation.
Why might the IDR total cost be higher even with a lower monthly payment?
Lower payments can mean slower principal reduction and more accrued interest over a longer term, which can offset monthly savings.