US Student Loan Repayment Calculator
Compare US federal student loan repayment plans — Standard 10-year, Graduated, and Income-Driven Repayment (SAVE/REPAYE, IBR, PAYE) — to find the lowest monthly payment or least total interest paid.
Educational estimate. Calculator results are for planning and information only, not financial, tax, medical, legal, or engineering advice. Verify important decisions with official sources or a qualified professional.
US Student Loan Repayment Calculator
IDR, Standard & Graduated Plans
📐 Formula & Method
Standard Plan
Standard amortisation over 120 months (10 years).
SAVE Plan
SAVE uses 5% of discretionary income for undergraduate loans and 10% for graduate loans. Poverty line = $14,580 (2024, family of 1).
📋 How to Use
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Enter your total loan balance and interest rate.
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Choose your repayment plan.
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For IDR plans, also enter your income and family size.
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Compare monthly payment and total interest across plans.
Choosing the Right Student Loan Repayment Plan
The Standard 10-year plan minimises total interest but has the highest monthly payment. Income-Driven plans like SAVE cap payments at a percentage of discretionary income and forgive remaining balances after 20–25 years (or 10 years under PSLF for qualifying public service employees).
The SAVE plan (Saving on a Valuable Education), introduced in 2023, offers the most generous terms: 5% of discretionary income for undergrad loans, larger income exclusion, and no interest accrual when your payment covers the monthly interest.
🔬 Methodology & Accuracy
Formula: Uses the standard mathematical formula shown in the Formula & Method section above. All computations run client-side in your browser — no data is sent to our servers.
Data sources: Tax bands, contribution limits and regulatory rates are taken from official US (IRS, SSA) and UK (HMRC, gov.uk) publications for the current tax year, and updated when bands change.
Last reviewed: January 2025 · Accuracy: Results are precise to two decimal places using IEEE-754 double-precision arithmetic. Intended for educational and planning use only.
For informational purposes only. Results are estimates based on the inputs and formulas provided. For financial, tax, medical, or legal decisions, consult a qualified professional. Rates and regulations change — always verify current figures with official sources.