Repayment Calculator 

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This calculator compares the cost of repaying Federal student loans using the Income-Based Repayment (IBR) option and the standard repayment option.  
 
 
Repayment Options
  • Understanding the repayment process for federal student loans can go a long way toward building a solid financial foundation. Remember, federal student loans are real loans, just like car loans or mortgages. Students must repay a student loan even if their financial circumstances become difficult. Student loans cannot be canceled because students didn’t get the education or job  expected or because a degree was not obtained.
  • Students have a choice of several repayment plans that are designed to meet their needs. The amount that is paid and the length of time to repay loans will vary depending on the repayment plan chosen.
  • Contact the federal loan servicer to discuss repayment plan options or change the repayment plan. Information about all of the federal student loans received as well as finding out who the loan servicer is can be found at the National Student Loan Data System (NSLDS). The loan servicer is there to work with the student to determine the best repayment option.
  • General information about the various repayment plan options (Standard Repayment, Extended Repayment, Graduated Repayment, Income Contingent Repayment, Income-based Repayment and Pay As You Earn Repayment) is available.
  • Although a student may select or be assigned a repayment plan when first beginning to repay student loans, students can change repayment plans at any time.
  • Private student loans received are not federal loans and are not included in NSLDS.
  • Repayment charts are available to give a general look at what payments may look like.
  • Repayment Plan Comparison Chart and Fact Sheet. An overview of Direct Loan and FFEL Program Repayment Plans.
  • Repayment Estimator. Use the Repayment Estimator to estimate federal student loan payments under each repayment plan.
  • Additional information about federal student loan repayment options.

Public Service Loan Forgiveness

    How to Qualify for Public Service Loan Forgiveness - blog article