What is income-driven repayment (IDR)?

IDR plans base your monthly student loan payment on your income and family size rather than the amount you owe. Payments can be as low as $0 if your income is low.

How do IDR plans affect total interest paid?

Because payments are lower, it usually takes longer to pay off the loan, which means you pay more interest over time. However, many plans offer forgiveness after 20-25 years (or 10 for PSLF).

Should I switch to an IDR plan?

Switch if your current payments are unaffordable or if you work in public service and qualify for PSLF. If you can afford standard payments and want to pay less total interest, the standard plan may be better.

Income-Driven Repayment Calculator

Calculate your monthly student loan payment under Income-Driven Repayment (IDR) plans including SAVE, PAYE, and IBR.

IDR Calculator

Best Monthly

$46

Plan

SAVE

Loan Balance

$50k

Recommendation

Your payment-to-income ratio is very manageable. Consider Standard plan to pay off faster.

Lowest Monthly

$46

SAVE Plan

Lowest Total Cost

$32k

SAVE Plan

Standard Payment

$543

10-year plan

Monthly Savings

$496

vs standard

Total Loan Balance

Weighted Average Interest Rate (5.5%)

Loan Type

Standard 10-Year Plan

Monthly Payment:$543

Total Paid:$65,116

Your Annual Income

Filing Status

Family Size (1)

Include yourself, spouse, and dependents

State

Expected Annual Income Growth (3%)

Consider tax on forgiven amount (pre-2026)

Estimated Tax Rate (22%)

Income Summary

Your Income:$45,000

Adjusted Gross Income:$45,000

Federal Poverty Line:$15,060

Loan Forgiveness Comparison

About Loan Forgiveness

• Timeline: 20-25 years depending on plan
• Tax Treatment: Forgiven amounts may be taxable as income (check current law)
• Requirements: Must recertify income and family size annually
• Public Service: PSLF offers tax-free forgiveness after 10 years for qualifying jobs

Income-Driven Repayment Tips

Recertify annually: Must submit income and family size yearly to stay enrolled
SAVE plan benefits: Lowest payments, interest subsidy, shortest forgiveness timeline
PSLF eligible: IDR plans qualify for Public Service Loan Forgiveness (10 years)
Payment cap: Most IDR plans cap payments at the standard 10-year amount
$0 payments count: Months with $0 payments still count toward forgiveness
File separately: Married borrowers may benefit from filing taxes separately (SAVE/PAYE)

Understanding Income-Driven Repayment Calculator

[Educational content introduction - 3 paragraphs explaining the calculator's purpose, importance, and how it helps users make better financial decisions.]

Key Terms You Should Know

Key Term 1

[Definition and explanation]

How It Works

[Step-by-step process explanation with examples]

8 Best Practices

8 Common Mistakes to Avoid

Frequently Asked Questions

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