US Federal Student Loans Calculator

• Enter your total federal student loan balance
• Enter your weighted average interest rate
• Select a repayment plan (8 options available)
• For income-driven plans, enter your annual income and family size
• Click 'Calculate' to see monthly payment and total cost

📌 Fixed Repayment Plans:

Standard Plan: Fixed monthly payment over 10 years. Pay off principal and interest simultaneously. Highest monthly payment but lowest total interest.

Graduated Plan: Start with lower payments that increase every 2 years. Good for those expecting income growth. Maximum 10 years.

Extended Plan: Lower monthly payments over 25 years. Requires minimum $30,000 in loans. More total interest but easier monthly burden.

💵 Income-Driven Repayment Plans:

ICR (Income-Contingent): Pay 20% of discretionary income or 12-year fixed amount, whichever is less. Maximum 25 years. Forgiveness after 25 years.

IBR (Income-Based): New borrowers (after July 1, 2014): 10% of discretionary income, 20 years forgiveness. Existing borrowers (before July 1, 2014): 15% of discretionary income, 25 years forgiveness. Both capped at Standard Plan amount.

PAYE (Pay As You Earn): 10% of discretionary income, capped at Standard Plan amount. Maximum 20 years. Forgiveness after 20 years.

SAVE Plan (2023 New): 🆕 Undergraduate: 5% of discretionary income. Graduate: 10%. Most generous discretionary income calculation. Forgiveness after 10-25 years based on original balance.

REPAYE: 10% of discretionary income. No cap. Maximum 20 years (undergraduate) or 25 years (graduate). Forgiveness after term.