Income-Driven Repayment Calculator
Income-Driven Repayment Calculator estimates can help you compare possible monthly payments on eligible federal student loans. First, enter your information below. Then, review the estimate as a planning tool rather than an official repayment quote or eligibility decision.
Estimates depend on the calculator’s settings and assumptions. Federal repayment rules, plan availability and borrower eligibility may change. Confirm current terms with Federal Student Aid before relying on an estimate.
Understand Your Income-Driven Repayment Calculator Results
The IDR Calculator gives you a starting point for reviewing monthly payments. However, your plan choice can also affect total cost, repayment length and possible forgiveness.
For example, a lower estimated bill may come with a longer repayment period. Therefore, compare your options and confirm current terms and eligibility before making a decision.
Income-Driven Repayment Calculator: Understanding the Basics
IDR plans generally use income and family size to determine payments on eligible federal student loans. As a result, a qualifying borrower may have a lower required payment under an available plan.
Because plans differ in eligibility, formulas and repayment terms, the best option depends on your individual situation.
Factors That Shape Your Payment Estimate
How the Income-Driven Repayment Calculator Estimates Payments
Several income-driven plans use a measure called discretionary income. For example, a formula may consider income above a plan-specific share of the applicable poverty guideline. However, formulas and payment caps vary by plan, so the result is only an estimate.
1. Start With Income
First, a plan may use adjusted gross income or other accepted income documentation, depending on the applicable rules.
2. Include Family Size
Next, household size can affect the income allowance used in the formula. In addition, some calculations account for location.
3. Compare Plan Rules
Eligible plans can use different formulas. Therefore, compare the estimate with the plan’s current terms before applying.
Income-Driven Repayment Calculator and Plan Eligibility
Before relying on an IDR Calculator result, check your federal loan type and the plan’s current requirements. For example, private student loans are not eligible for federal income-driven repayment plans.
Review Your Loans
First, identify your federal loan types and confirm which plans accept them. In some cases, consolidation may change the choices available.
Prepare Income Details
Next, gather income and family-size information. Depending on the plan, you may also need to provide updated documentation or recertify later.
How to Use Your Income-Driven Repayment Calculator Results
Estimate Your Payment
First, enter your details in the calculator above to see a planning estimate.
Compare Available Plans
Next, review payment amounts, eligibility, repayment terms and possible tradeoffs.
Verify and Apply
Finally, confirm current rules and submit any eligible application through official federal channels.
Need Help Understanding Your Options?
After comparing your estimate with your overall budget, you may still have questions. Therefore, StuLo can help you review repayment and consolidation information before you choose your next step.
Federal Student Aid offers repayment information and applications without charge. StuLo is a private service and is not affiliated with the U.S. Department of Education.