Student Loan Repayment Planner

Compare a standard fixed plan with a simplified income-driven estimate. See monthly payments, total paid, interest, and potential forgiveness. This is a high-level model—wire in actual SAVE / PAYE / IBR rules later.

Loan Details

Loan balance

Interest rate (APR)

Standard plan term

years

Borrower & Income-Driven Settings

Annual income (AGI estimate)

Family size

Poverty line (per person)

Protected income multiple

IDR % of discretionary income

IDR horizon (forgiveness)

years

This is a generic income-driven formula: payment = IDR % × (income – protected income). Real programs use specific multipliers, thresholds, and interest subsidies.

Discretionary Income Snapshot

Poverty threshold (family)$15,000

Protected income$22,500 (1.5× poverty)

Discretionary income$37,500 (62.5% of income)

IDR monthly payment (from discretionary)$313

Standard Plan (Fixed)

Monthly payment$488

Total paid over term$58,604

Total interest paid$13,604

Time to payoff10 years (120 months)

Income-Driven Plan (Simplified)

Starting monthly payment$313

Total paid over horizon$73,724

Interest paid (approx.)$28,724

Balance forgiven at end (est.)$0

Time modeled in IDR19.7 years (236 months)

This assumes your IDR payment stays constant and that unpaid interest doesn't capitalize. Real IDR plans recertify annually and may adjust payments, subsidize interest, or handle unpaid interest differently.

Which Path Looks Cheaper (on Cash Paid)?

• Standard plan: you'd pay about $58,604 over the life of the loan.

• Income-driven plan: in this simplified model, you'd pay about $73,724 over 20 years, with $0 potentially forgiven at the end.

• Difference in cash paid: IDR costs about $15,120 more in this scenario.

Remember: forgiveness may be taxable or tax-free depending on the program and law at the time. This model does not include any tax on forgiven debt.

This tool is for educational planning only. Real IDR programs (SAVE, PAYE, IBR, etc.) have detailed rules: protected income formulas, interest subsidies, capitalization triggers, spouse income handling, annual recertification, and tax treatment of forgiveness. Replace this with a rules engine wired to current federal guidance before using it for real decisions.