Student Loan Income Based Repayment Calculator

Student Loan Income-Based Repayment (IBR) Calculator

Personal info

Loan info

Original IBR Savings
First month's payment - - -
Last month's payment - - -
Total balance paid - - -
Total forgiveness - - -
Repayment term - - -
Your results are in! You would have a monthly payment* of $57 on IBR, a difference of $1,943 from your current payment. Make note that your payments may increase if you earn more income in the future. Let's assume with an annual income growth of 3.5%, you would have a final monthly payment amount* of $173. Fast-forward ~20 years of making payments: Your total amount paid would be $26,924 with $54,743 received in forgiveness. Compare this to your current plan, in which you would pay $0 over the next ~0 years.