Student Loan
Student Loan Repayment Calculator

Repayment Calculator

What You Get


  • Estimates and charts for Federal Level and Graduated Repayment Plans
  • Estimates and charts for Federal Income-Driven Repayment Plans
  • Estimates and charts for Federal Consolidation
  • Estimates and charts for Private Repayment Plans (Refinancing)

Inputs


  • Loans And Affordability

    You may see this reflected on your bill as "remaining balance".
    This is the average of your interest rates, weighted by each loan's current balance.
    This is the number of payments you've made to date.
    This helps us color code repayment plans based on your ability to afford them.
  • Loan Forgiveness Program

    Public Service Loan Forgiveness is available to borrowers who work in government or in the non-profit sector (estimated to be about 25% of Americans).

    Teacher Loan Forgiveness is for teachers who work in a school located in a low-income area.

    Math, science, and special education teachers can recieve up to $17,500 in forgiveness. All other teachers can recieve up to $5,000. For details, please check the official FAQ.

  • Income-Driven Repayment

    Indicate "yes" if any of your current loans were for graduate school.
    Your eligibility for some payment programs is based on if you are a "new borrower" (determined by this question).
    Different programs also have different definitions of a "new borrower."
    Indicate your expected official residence in next year's tax filing.
    For most people, this is similar to your gross income. You can easily find it on your taxes.
    Wage growth is important for determining future payments for income-based repayment plans. It's okay to make a very rough guess. When your income changes, you can always re-run the calculator.
    Your household size includes you and any dependents (i.e., children and parents you support more than 50% financially).
    If you are married, your spouse's income may be be incorporated into some payment programs, even if you file your taxes separately.
    Your spouse's adjusted gross income is his/her total income minus specific deductions. You can easily find it on his/her tax return.
    Wage growth is important for determining future payments for income-based repayment plans. It's okay to make a very rough guess. When your spouse's income changes, you can always re-run the calculator.
    Include only federal loans
    Indicate how you plan to file your taxes this year.
  • Private Repayment Plans

    It's okay to make a rough guess if you don't know.

Outputs



Repayment Estimates

Key

Best Plan
Ineligible Plan
All Payments Within Monthly Budget
Some Payments Above Monthly Budget
All Payments Above Monthly Budget

Top Refinance Platforms:

Credible

Check your rates at Credible

  • One platform, multiple lenders
  • No origination, prepayment, or service fees
  • Rates as low as 2.63%

LendKey

Check your rates at LendKey

  • Multiple quotes from credit unions and community banks
  • No origination, prepayment, or service fees
  • Rates as low as 2.56%

SoFi

Check your rates at SoFi

  • Biggest student loan refinance company
  • No origination, prepayment, or service fees
  • Rates as low as 2.65%

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