Student loan debt affects over 44 million Americans totaling more than $1.7 trillion. Our calculator helps you understand your monthly payments, total interest cost, and payoff timeline across all federal repayment plans—standard, graduated, income-driven (IDR), and extended—so you can choose the right plan for your situation.
The standard plan spreads payments equally over 10 years, resulting in the lowest total interest paid. Monthly payments are fixed. Most borrowers start here, though income-driven plans may be better for those with high debt relative to income.
IDR plans cap monthly payments at a percentage of your discretionary income—typically 5%–20% depending on the plan. The SAVE plan (formerly REPAYE), PAYE, and IBR are the main options. Any remaining balance is forgiven after 10–25 years of qualifying payments.
PSLF forgives remaining federal student loan balances after 10 years (120 payments) of qualifying payments while working full-time for a government or nonprofit employer. You must be on an income-driven repayment plan and have Direct Loans.
If your student loan interest rate is below 6%, investing in tax-advantaged accounts (401k to employer match, then Roth IRA) often produces better long-term results. If your rate is above 7–8%, aggressively paying off debt usually makes more sense first.
Refinancing replaces your current loans with a new private loan at a (hopefully) lower interest rate. This can save money if you have good credit and stable income. However, refinancing federal loans loses access to IDR plans, PSLF, and federal forbearance protections.
Interest capitalizes—meaning it is added to your principal—at certain events such as leaving school, leaving deferment, or switching repayment plans. After capitalization, you pay interest on a larger principal, increasing total costs. Making interest payments during school or grace periods prevents capitalization.