Student Loan Repayment Plan Comparison Calculator
Choosing between standard repayment and an income-driven repayment (IDR) plan can dramatically change how much you pay and when your loan is forgiven. Enter your loan and income details to compare both paths.
About this calculator
Compare standard repayment versus income-driven repayment for student loans, including estimated forgiveness timeline and total cost.
Frequently Asked Questions
How is the income-driven repayment (IDR) payment calculated?
IDR payments are typically based on a percentage of your discretionary income, which is your income minus a poverty line allowance. This calculator uses a simplified fixed-percentage model.
What happens to the remaining balance after the IDR forgiveness timeline?
After the specified number of years (commonly 20 or 25), any remaining loan balance may be forgiven, though forgiven amounts can potentially be taxed depending on current law.
Does this calculator account for income growth over time?
No, it assumes a constant annual income throughout the repayment period for simplicity. Actual IDR payments recalculate annually based on updated income.