Loan Repayment Comparison Calculator
Compare federal student loan repayment plans to find the best option for your situation — lowest total cost, lowest monthly payment, or fastest payoff.
Assumes 3% annual income growth, undergraduate loans, post-2014 borrower. Use the Full Analysis tab to adjust these.
Lowest Total Cost Plan
SAVE Plan
$40,009 total over 20 years
Lowest Payment
$88/mo
SAVE Plan
Fastest Payoff
10 years
Standard Repayment
Plans Eligible
7 of 7
| Plan | Monthly | Years | Total Paid |
|---|---|---|---|
| SAVE | $88 | 20 | $40,009 |
| Graduated | $284 | 10 | $45,935 |
| Standard | $568 | 10 | $68,129 |
| ICR | $501 | 13 | $74,301 |
| PAYE | $270 | 20 | $96,604 |
Estimated difference between lowest and highest cost plans
$61,273
Some plans include loan forgiveness after 20–25 years. Forgiven amounts may be taxable.
Remaining Balance Over Time
Shows how each plan reduces your balance. Plans with forgiveness show a sharp drop at the forgiveness year.
Your Information
Include yourself, spouse, and dependents
Lowest Total Cost
Graduated Repayment
Lowest Monthly Payment
SAVE Plan
Fastest Payoff
Standard Repayment
Standard Repayment
Fixed payments over 10 years. The fastest way to pay off loans with least total interest.
Graduated Repayment
Lowest CostPayments start lower and increase every 2 years. Good if you expect income to grow.
Extended Fixed
Fixed payments over 25 years. Lower monthly payments but more total interest.
SAVE Plan
Lowest Payment10% of discretionary income (225% poverty). Full interest subsidy. 20-year forgiveness.
PAYE
10% of discretionary income (150% poverty). Capped at standard payment. 20-year forgiveness.
IBR (New Borrower)
10% of discretionary income (150% poverty). For borrowers after July 2014. 20-year forgiveness.
ICR
20% of discretionary income (100% poverty) or 12-year fixed adjusted for income. 25-year forgiveness.
Understanding Federal Repayment Plans
Standard & Graduated: Traditional plans with fixed terms. Standard has equal payments; Graduated starts lower and increases every 2 years.
Extended: Stretches repayment to 25 years (requires $30k+ balance). Lower payments but significantly more total interest.
SAVE Plan: The newest IDR plan with generous terms — uses 225% of the poverty level and provides a full interest subsidy on unpaid interest.
PAYE & IBR: Income-driven plans using 150% of the poverty level. PAYE requires being a “new borrower” as of Oct 2007 with loans after Oct 2011.
Forgiveness Tax: Amounts forgiven under IDR plans may be taxable as income (except PSLF). The ARPA waiver exempted forgiveness through 2025.
PSLF: For qualifying public-service employers, remaining balance is forgiven tax-free after 120 qualifying payments on any IDR plan.
About This Analysis
This calculator provides estimates based on the inputs you supply. It assumes standard amortization and does not account for taxes, insurance, PMI, prepayment penalties, or the opportunity cost of funds. Results are for informational and educational purposes only and should not be considered financial advice. Consult a qualified professional before making financial decisions.
- ·SAVE Plan availability may be affected by ongoing litigation; check studentaid.gov for current status.
- ·IDR forgiveness amounts may be taxable income. Consult a tax professional for details.
- ·Assumes consistent income growth. Actual payments adjust annually based on reported AGI.
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