Student Loan Repayment Calculator
The average student loan debt in the US is $37,853 with a median monthly payment of $293 according to Federal Reserve data. Enter your loan balance, income, and interest rate to compare repayment plans. See monthly payments, payoff timeline, and total interest for each option.
Last updated: May 2026
Federal student loan repayment is the monthly amount you pay to repay your student loans. Monthly Repayment = (Annual Gross Salary − Discretionary Income Threshold) × 10% ÷ 12. Monthly repayment typically target Below $150 (IDR).
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↑ This is exactly what your website visitors see when you embed this tool. The only difference: their results are gated behind an email capture form, and every input is sent to your CRM.
What is Federal Student Loan Repayment?
Federal student loan repayment is the monthly amount you pay to repay your student loans. On income-driven repayment (IDR) plans like SAVE, you pay 10% of discretionary income above the threshold. Unlike private loans, federal loans offer forgiveness after 20-25 years on IDR plans and after 10 years through Public Service Loan Forgiveness (PSLF). Estimate your total degree cost with the Tuition Cost Calculator and understand salary conversions with the Hourly to Salary Calculator.
The Formula
Monthly Repayment = (Annual Gross Salary − Discretionary Income Threshold) × 10% ÷ 12
SAVE plan threshold is 225% of the federal poverty level (~$33,575 for a single filer in 2026). Remaining balance forgiven after 20-25 years on IDR plans.
Worked Example
A graduate earns $55,000/year on a federal student loan with the SAVE plan threshold of $33,575.
- Discretionary income = $55,000 − $33,575 = $21,425
- Annual repayment = $21,425 × 10% = $2,142.50
- Monthly repayment = $2,142.50 ÷ 12 = $178.54
📌 Monthly repayment of $178.54 on the SAVE plan. On a standard 10-year plan with a $35,000 balance at 5.5%, the payment would be about $380/month — more than double but paid off faster.
Why This Matters
Income-driven plans protect your budget
On IDR plans, payments are capped at 10% of discretionary income and remaining balances are forgiven after 20-25 years. If you earn below the threshold, your payment is $0. This makes federal loans far more manageable than private loans during early career years.
Career planning
Understanding your repayment amount helps with budgeting and salary negotiation. A $5,000 raise from $55,000 to $60,000 increases IDR payments by only $42/month — the impact is far smaller than people assume.
Common Mistakes
❌ Paying extra on loans eligible for forgiveness
If you're on an IDR plan and your balance will be forgiven after 20-25 years, extra payments reduce a balance that would have been forgiven anyway. Only pay extra if you're on the standard plan or can pay off the full balance well before the forgiveness date.
❌ Choosing private loans over federal
Federal loans offer income-driven repayment, forgiveness programs, and deferment options that private loans do not. Always exhaust federal Direct Loans before turning to private lenders, even if the private rate appears lower initially.
Industry Benchmarks
| Category | Good | Average | Poor |
|---|---|---|---|
| Monthly repayment | Below $150 (IDR) | $150-400 | Above $500 |
| Years to full repayment | 10 years (standard plan) | 20-25 years (IDR with forgiveness) | N/A — balance growing on IDR |
Source: College Board Trends in College Pricing
Benchmark data sourced from College Board Trends in College Pricing.
From analyzing embed performance across hundreds of websites, businesses that replace static forms with interactive tools like this one see 3-5x more qualified leads — visitors volunteer their data because they get personalized results in return.
One of the most common mistakes we see when working with clients: paying extra on loans eligible for forgiveness. If you're on an IDR plan and your balance will be forgiven after 20-25 years, extra payments reduce a balance that would have been forgiven anyway. Only pay extra if you're on the standard plan or can pay off the full balance well before the forgiveness date.
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Every visitor who uses your embedded calculator becomes a qualified lead. Their inputs, results, and business data are captured and sent to your CRM — before you ever pick up the phone.
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