Budget Calculator

Income-based repayment calculator

Enter your loan information (amounts and interest rates) in the calculator below to estimate your monthly payment amount under the income-based repayment plan.

  • The loan type and interest rate are preset; however, you can change them.
  • When entering dollar amounts, do not use commas or decimals. For example, enter $1,000 as 1000.

How many loans do you have? If you have more than 20 loans, add together loans with the same interest rate. If you are married and filed a joint federal tax return, you also can include your spouse's eligible student loans.

Loan Type

Balance Enter the greater of the amount due when your loan initially entered repayment or the amount due today. You can estimate this amount or ask your loan holder.

interest rate
The charge for use of a lender's money for your loan. You can estimate this amount or ask your loan holder.
Loan 1:
Loan Type


Annual Interest Rate
Loan 2:
Loan Type


Annual Interest Rate
Loan 3:
Loan Type


Annual Interest Rate
Loan 4:
Loan Type


Annual Interest Rate

Family Size: The number determined by counting:
• you,
• your spouse,
• each of your children if you provide more than half of their financial support, and
• any other individuals who live with you and for whom you provide more than half of their financial support.

Financial support includes money, gifts, loans, housing, food, clothes, car, medical and dental care, and payment of college costs.

Adjusted gross income: Gross income for you and your spouse if married and filing a joint federal tax return. You can find this on your federal tax return.
Note: If your financial circumstances have changed, enter your current estimated gross annual income.

Residence: If you live in Alaska or Hawaii, select the appropriate box. You live in any other state in the United States or in another country, choose "All other."

Alaska Hawaii All other

Income-based repayment calculation

  • Available for payments made on or after July 1, 2009 for the following loan types:
  • The payment amount is adjusted based on income and family size.
  • The payment is not more than 15 percent of the amount by which your adjusted gross income exceeds 150 percent of the poverty line for your residence and family size.
  • The monthly payment amount may be lower than the monthly interest accrual. If the monthly amount is not enough to pay accrued interest on a Direct Subsidized or Unsubsidized Loan or Federal Stafford Loan (subsidized or unsubsidized) or the subsidized portion of a Direct Consolidation Loan or Federal Consolidation Loan, the Department of Education pays the remaining interest for the first three consecutive years from the date you first qualified for income-based repayment on that loan. This 3-year period does not include any period during which the loan is in an Economic Hardship deferment.
  • If you are married, you and your spouse can apply based on combined student loan debt.
  • Your payment is re-evaluated annually.
  • More interest may accrue over the life of the loan because the principal balance decreases at a slower rate.
  • The outstanding loan balance, if any, is forgiven after 25 years and 300 qualifying payments. The amount forgiven may be taxable.