Income-driven plans cap your federal student loan payment at a share of discretionary income. See a rough monthly payment based on your income and household.
Income-driven repayment plans cap a federal student loan payment at a share of your discretionary income rather than the balance. This calculator gives a rough monthly payment based on your income, family size, and the federal poverty guideline.
Discretionary income is the amount you earn above 150% of the federal poverty guideline for your family size. This tool estimates a payment at 10% of that figure, divided across twelve months, which mirrors several income-driven plans. A larger family or a lower income raises the protected amount, which lowers or even zeroes the payment.
Income-driven plans differ in their exact percentage and poverty multiplier, and the available programs have shifted with recent policy and court decisions, so confirm the current terms with your servicer. Most plans forgive any remaining balance after 20 to 25 years of qualifying payments, and public service workers may qualify sooner. The forgiven amount may be treated as taxable income depending on the rules in effect.
For most income-driven plans it is your income above 150% of the federal poverty guideline for your household size. Your payment is a percentage of that amount.
Yes. If your income is at or below the protected threshold for your family size, your calculated payment can be zero while still counting toward forgiveness.
Most forgive the remaining balance after 20 to 25 years of qualifying payments, and public service borrowers may qualify in as few as 10. Confirm current rules with your servicer.
See the exact formula and a worked example on our methodology page.