When and how much you borrow is a primary factor for evaluating your income-driven repayment options.
As part of the
COVID-19 interest and payment suspension, federally held interest rates are set to 0% and payments are suspended automatically, starting March 13, 2020 through May 1, 2022. This may be extended. Use the dropdown list below to project the number of months this interest and payment suspension might be extended beyond May 1, 2022.
As the name implies, income-driven repayment plans are highly dependent on changes to your income.
Enter your income information as best as you can or let us project it for you.
Your income-driven payments can be based on your
taxable income, specifically your Adjusted Gross Income (AGI) from a recently filed tax return. Enter your most recent AGI as Your Annual Income when available.
If you file a tax return before you graduate, your income-driven repayment plan payment can be $0/month for the first 12 months of repayment and very low in the second 12 months of repayment. Most new graduates will have little to no income during their final year and only half a year’s income in their graduation year. Click the button below to automatically adjust your first two income year inputs.
Review the new graduate student loan playbook for more information.
Since federal income-driven repayment plans are tied to your yearly income and family size,
the simulation will be highly dependent on your specific family situation.
Spouse's Current/Anticipated Repayment Plan
Dependent Information