Our income-based repayment calculator enables you to figure the monthly payment amount for a federal student loan, using either the new Repayment Assistance Plan (RAP) or a legacy income-driven repayment (IDR) plan. IDR plans adjust the student loan payment amount based on a borrower's income.
With this tool, you can input your income and other information — such as family size or number of dependents — to estimate your payment amount under different IDR plans.
Not all of the IDR plans listed in our calculator are still available to everyone. In fact, the SAVE plan has ended. But some borrowers are moving from one IDR plan to another, so we've included all plans to help with that transition.
Compare payments for student loan IDR plans
Here's how legacy IDR plans calculate payments
In the past, the U.S. Department of Education (ED) used only discretionary income to calculate payments for income-driven repayment. Discretionary income is the portion of your adjusted gross income (AGI) above a set percentage of the federal poverty guideline for your family size and state. Think of it as the money left over after taking into account basic living costs. The lower your discretionary income, the lower your payment.
To determine your discretionary income, you first need your AGI. You can find it on your most recent federal tax return — Line 11 on Form 1040. Next, look up the federal poverty guideline for your state and family size. Multiply that by these percentages depending on the IDR plan: 150% for Income-Based Repayment (IBR) and Pay As You Earn (PAYE) or 100% for Income-Contingent Repayment (ICR). Then subtract the result from your AGI.
If you’re married and file a joint tax return, use your combined AGI and count your spouse in your family size. If you file separately, use only your own AGI.
Once you have your discretionary income, your monthly payment is a percentage of that amount divided by 12. IBR is 10% if you had no federal student loan balance when you borrowed on or after July 1, 2014, and 15% if you did. PAYE is 10%. ICR is 20% or a 12-year fixed payment adjusted for income, whichever is less.
Or, use our calculator to figure all of this for you.
Can borrowers remain on legacy IDR plans?
On July 1, 2026, the federal government began overhauling income-driven repayment. It introduced RAP and is phasing out some IDR plans over time.
If you were already enrolled in IBR, PAYE or ICR before July 1, 2026, you can remain on your plan, but ICR and PAYE have a firm ending date of July 1, 2028. If you take out new federal student loans or consolidate loans on or after July 1, 2026, you lose access to all legacy IDR plans — including IBR, PAYE and ICR — for all your Direct Loans, and RAP will be your only income-driven repayment option.
The Saving on a Valuable Education (SAVE) plan has ended and loan servicers are sending notices with instructions on moving to a different plan. We’ve kept SAVE in our calculator for now, so borrowers can compare payments for SAVE and other IDR plans.
How does the Repayment Assistance Plan calculate payments?
Unlike legacy IDR plans that use discretionary income, RAP monthly payments are graduated and based on the AGI on your most recent tax return. If you’re married and file jointly, that includes your spouse’s income.
On RAP, the more you earn, the larger the portion of income you pay each month. Your monthly payment is reduced by $50 for each dependent you claim on your federal tax return. The minimum monthly payment is $10.
RAP requires you to recertify income annually, so a pay increase that puts you in a new bracket would increase your student loan payment.
RAP base payment tiers
Annual income bracket | RAP base payment |
|---|---|
$0 - $10,000 | $120 ($10 monthly) |
$10,001 - $20,000 | 1% of adjusted gross income (AGI) |
$20,001 - $30,000 | 2% of AGI |
$30,001 - $40,000 | 3% of AGI |
$40,001 - $50,000 | 4% of AGI |
$50,001 - $60,000 | 5% of AGI |
$60,001 - $70,000 | 6% of AGI |
$70,001 - $80,000 | 7% of AGI |
$80,001 - $90,000 | 8% of AGI |
$90,001 - $100,000 | 9% of AGI |
$100,001 and above | 10% of AGI |
RAP monthly payment formula: (RAP base payment / 12) - $50 per dependent = Estimated monthly RAP payment
Other NerdWallet student loan calculators
Student loan payment calculator. Estimate your payment amount and total cost for a single student loan or multiple student loans. You can include undergraduate and graduate loans, as well as federal and private loans.
Student loan payoff calculator. See how extra payments can speed up repayment and save you money.
Student loan refinance calculator. Compare your current loan payment or multiple payments with a refinanced student loan.
Student loan consolidation calculator. See how consolidating your federal student loans will change your payment, interest rate and repayment term.
Parent PLUS loan calculator. Estimate your monthly payment and total cost over multiple years of borrowing with a parent PLUS loan.
