Student Loan Payback Calculator
Compare your federal student loan payment on the standard 10-year plan, the new Tiered Standard plan and the RAP income-driven plan that start July 1, 2026, see what extra payments save, and check forgiveness rules.
Student loan payback calculator
Calculate student loan payment options (2026)
- Standard 10-year: fixed payment that clears the loan in 10 years; least interest of the federal plans.
- Tiered Standard (required for loans made on or after July 1, 2026): fixed payments over 10 years (under $25,000), 15 ($25,000–$49,999), 20 ($50,000–$99,999) or 25 years ($100,000+).
- Repayment Assistance Plan (RAP), from July 1, 2026: 1% of AGI for each $10,000 of income above $10,000, up to 10% over $100,000, minus $50 a month per dependent, minimum $10. Unpaid interest isn't charged, a principal match keeps the balance falling, and anything left after 30 years is forgiven.
- Older plans: borrowers whose loans were all made before July 1, 2026 can keep IBR; PAYE and ICR end July 1, 2028; SAVE has ended.
Example: $35,000 at 6.5%: standard 10-year payment $397.42 (about $12,700 of interest). Tiered Standard puts it at 15 years: $304.89. On RAP with a $45,000 AGI and no dependents: 4% × $45,000 ÷ 12 = $150 a month. Adding $100 a month to the standard payment pays it off in about 7.4 years.
Student loan forgiveness in 2026
- Public Service Loan Forgiveness: tax-free forgiveness after 120 qualifying payments while working full time for government or a 501(c)(3) nonprofit. RAP payments count; Tiered Standard payments over 10+ years generally don't.
- Income-driven forgiveness: after 30 years on RAP (20–25 years on IBR). Forgiveness outside PSLF is federally taxable again from 2026 after the temporary exclusion ended in 2025.
- Teacher Loan Forgiveness: up to $17,500 after 5 years in a low-income school.
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Common questions
How do I calculate my student loan payment?
Payment = balance × monthly rate ÷ (1 − (1 + monthly rate)^−months). $35,000 at 6.5% over 10 years is $397.42.
What is the RAP payment?
1% to 10% of AGI depending on income, ÷ 12, minus $50 per dependent, at least $10 a month.
Who must use the Tiered Standard plan?
Borrowers with any federal loan disbursed on or after July 1, 2026.
Do RAP payments count for PSLF?
Yes, RAP payments count toward the 120 qualifying PSLF payments.
Is student loan forgiveness taxable in 2026?
PSLF is tax-free; other income-driven forgiveness is federally taxable again from 2026.
Sources
- Congressional Research Service: The Repayment Assistance Plan (IF13075)
- Mass.gov: The new Tiered Standard plan
- Federal Student Aid: Public Service Loan Forgiveness
Related
General information, not financial, tax or legal advice. Check important numbers with the official source before acting on them.