Income Driven Repayment Calculator
income-driven repayment calculator. Get instant, accurate results. Enter values for instant results with step-by-step formulas.
Formula
SAVE/PAYE: 10% of discretionary income / 12 | IBR: 15% (old) or 10% (new) | ICR: 20% or 12-yr standard (lesser)
Discretionary income = AGI - 225% of poverty line (SAVE) or 150% (others). SAVE: forgiveness in 20 yrs (undergrad) or 25 yrs (grad). PAYE: 20 yrs. IBR: 20-25 yrs. ICR: 25 yrs.
Frequently Asked Questions
How do income-driven repayment plans work?
IDR plans cap monthly payments at 10-20% of discretionary income. Options include SAVE, PAYE, IBR, and ICR. Remaining balances are forgiven after 20-25 years of qualifying payments, though forgiven amounts may be taxable.
What is the standard repayment plan for federal loans?
The standard plan has fixed monthly payments over 10 years. This minimizes total interest paid but has higher monthly payments. Graduated plans start lower and increase every two years over 10 years.
Can I use Income Driven Repayment Calculator on a mobile device?
Yes. All calculators on NovaCalculator are fully responsive and work on smartphones, tablets, and desktops. The layout adapts automatically to your screen size.
Is my data stored or sent to a server?
No. All calculations run entirely in your browser using JavaScript. No data you enter is ever transmitted to any server or stored anywhere. Your inputs remain completely private.
How accurate are the results from Income Driven Repayment Calculator?
All calculations use established mathematical formulas and are performed with high-precision arithmetic. Results are accurate to the precision shown. For critical decisions in finance, medicine, or engineering, always verify results with a qualified professional.
How do I interpret the result?
Results are displayed with a label and unit to help you understand the output. Many calculators include a short explanation or classification below the result (for example, a BMI category or risk level). Refer to the worked examples section on this page for real-world context.