US Student Loan Calculator

What the US Student Loan Calculator does

The calculator shows the monthly payment on federal student loans under the standard repayment plan and under income-driven repayment, side by side. One is based on your balance and term; the other on your income.

Two ways to set the payment

Standard repayment treats the loan like a conventional installment loan, spreading the balance over a fixed term with a level monthly payment until it is paid off. Income-driven repayment ties the payment to income, charging a share of your discretionary income instead of whatever it takes to clear the balance.

How the standard plan is calculated

The standard plan amortizes your balance over a fixed term, most commonly ten years. From your loan amount, interest rate and term, the calculator computes the level monthly payment that pays the loan off exactly at the end of the term.

Because it is sized to clear the debt, this payment is often higher than an income-driven one, but it usually means less total interest and a faster payoff. It suits borrowers whose income comfortably covers it and who want to be debt-free quickly. The payment does not change from year to year, so it is easy to budget, but it offers no relief if your income drops.

How income-driven repayment is calculated

Income-driven plans charge a percentage of your discretionary income, broadly your income above a set multiple of the federal poverty guideline for your family size, spread over the year. A larger family or lower income generally means a smaller payment, which can be much lower than the standard plan and easier on monthly cash flow. A lower payment can also stretch the repayment period and, in some cases, mean more interest over time.

These plans help most when the standard payment would be heavy relative to your earnings, or when your income varies and you want the payment to move with it. The payment is recalculated as circumstances change, which helps in lower-earning years. You typically have to certify your income and family size periodically, and missing that step can change your payment unexpectedly.

Choosing between the two

The standard plan fits if you want to clear the debt quickly and keep total interest down, and the payment fits your budget. Income-driven repayment fits if the standard payment is too high for your income or you want it to flex with your earnings. Some borrowers start on an income-driven plan for breathing room and change strategy as their income grows.

Forgiveness and special programs

Some income-driven plans can forgive a remaining balance after a long qualifying period, and certain public-service careers have their own forgiveness programs. Eligibility rules are detailed and change over time, so if forgiveness is part of your plan, confirm qualifying conditions, timelines and paperwork directly with your loan servicer.

Things to keep in mind

The figures are estimates from your inputs and standard formulas. Your servicer's numbers can differ because of your specific plan, family size, verified income and how interest capitalizes. Poverty guidelines and plan rules are reviewed periodically, and the values used here are kept current. Rerun the comparison when your income or family size changes, and bring the results to your loan servicer when you discuss eligibility, recertification and forgiveness.

This is general information to help you compare options, not financial advice. Confirm figures with your loan servicer before making a decision.

About This Student Loan Calculator

Use this student loan calculator to get an instant, accurate estimate. The figures follow official HHS guidance and every rate and threshold is kept up to date for 2026. Adjust the inputs above to match your situation, or browse all our calculators to plan your next step.