Student Loan Payoff Calculator

The calculator's Standard scenario fully amortizes the entered balance over 120 fixed monthly payments. That arithmetic can model an existing 10-year Standard plan, but federal repayment options now depend on loan type and borrowing date. Beginning July 1, 2026, new federal loan rules include a Tiered Standard plan for affected borrowers. Check StudentAid.gov for the plan actually available to your loans.

The calculator models RAP and uses 2026 federal poverty guidelines for plans based on discretionary income. It also includes PAYE, IBR for borrowers from 2014 or later, and ICR as legacy scenarios. SAVE is not selectable. Plan eligibility depends on your loans and borrower history, so confirm available options with the official StudentAid.gov Loan Simulator before making a repayment decision.

PSLF can forgive the remaining balance on eligible Direct Loans after 120 qualifying payments while you meet the full-time employment rules for a qualifying employer. Qualifying payments are not limited to every income-driven plan; the eligible repayment plan and payment rules depend on current federal requirements. Submit employer certification and verify your payment count through StudentAid.gov. This calculator does not determine PSLF eligibility or forgiveness tax treatment.

The calculator uses the 2026 HHS poverty guidelines for the 48 contiguous states and DC. It applies the plan-specific multiplier when calculating discretionary income. Alaska and Hawaii use different guidelines, and actual federal loan payments can depend on income documentation, family size, eligibility, and recertification timing.

Only federal Direct Loans qualify for income-driven repayment plans, Public Service Loan Forgiveness, and the federal protections that come with deferment, forbearance, and discharge in death or disability. Private student loans (from a bank, credit union, or refinancing lender) lock you into the contract terms the lender set, typically a fixed 5 to 20-year amortizing payment with no income protection. Refinancing federal loans into a private loan permanently surrenders those federal benefits, so do not refinance federal debt to chase a slightly lower rate unless you are sure you will not need IDR or PSLF.