Income Driven Repayment Calculator

It includes all the calculations in one tool it is customized to your situation and it allows you to compare idr plans to pay off strategies.

Income driven repayment calculator. Federal student loan borrowers pay a percentage of their discretionary income 10 15 or 20 depending on the specific income driven repayment plan you choose. Discretionary income is what you have left after taxes and an allowance for necessary spending such as food and shelter. To recap income driven repayment or idr is the term used by the government to describe five student loan repayment plans. Personal info adjusted gross income enter the amount of your total taxable income which is what is recorded on irs form 1040 1040a or 1040ez.

The result is our master income driven repayment calculator. Like the rest of the plans it sets your monthly payments based on your income family size and other financial factors. Check out this calculator to see how it works. This income based repayment calculator reveals what your monthly payments would be if you put your student loans on ibr.

Fill out your information in the income based repayment calculator to see what your federal student loan payments could be. It also compares your loans on ibr with the standard 10 year plan so you can see how your monthly payments loan term and overall balance would change.