Income-Based Repayment (IBR) Calculator

OriginalIBRSavings
First month's payment$383$86$297
Last month's payment$383$320$63
Total balance paid$45,960$55,272$9,312
Total forgiveness$0$29,204$29,204
Repayment term~10yr~25yr~15yr
Your monthly payment on IBR would be $86, a difference of $297 from what you are currently paying. If your income increases over time, your payments may increase. Assuming annual income growth of 3.5%, your final monthly payment would be $320. After making payments for ~25 years, you will have paid a total of $55,272 and would receive $29,204 in forgiveness, compared to your current plan where you will pay $45,960 over the next ~10 years.

Student loan refinancing rates as low as 3.21% APR. Check your rate in 2 minutes.

Total balance paid

Total forgiveness

CURRENT

$45,960

IBR

$55,272

$0
$5,000
$15,000
$20,000
$30,000
$35,000
$40,000
$50,000
$55,000

Tools & Calculators

Student Loan Calculator

How much will you REALLY repay?

Parental Contributor Calculator

How much should you save for your kids to go to uni?

MSE Forum-student

Join the chat with other students

Most popular

How this site works

We think it’s important you understand the strengths and limitations of the site. We’re a journalistic website and aim to provide the best MoneySaving guides, tips, tools, and techniques, but can’t guarantee to be perfect, so do note you use the information at your own risk and we can’t accept liability if things go wrong.

  • Do note, while we always aim to give you accurate product info, unfortunately, price and terms of products and deals can always be changed by the provider afterward, so double check first.
  • Student Debt Modifications is a private, student loan resolution services company and not affiliated with the U.S. Department of Education (DOE) or any other government agency. We help prepare and process the application for student loan consolidation and repayment programs offered by the DOE.
  • information obtained through the site(s) are for advertising and/or educational purposes only. Nothing on this site constitutes official qualification or guarantee of the result.
  • We often link to other websites, but we can’t be responsible for their content.
  • Always remember anyone can post on the MSE forums, so it can be very different from our opinion.

Information obtained through the site(s) are for advertising and/or educational purposes only. Nothing on this site constitutes official qualification or guarantee of the result. © Copyright Student Debt Modifications 2010-2020 Disclaimer: Student Debt Modifications is a private, student loan resolution services company and not affiliated with the U.S. Department of Education (DOE) or any other government agency. We help prepare and process the application for student loan consolidation and repayment programs offered by the DOE. You can apply for loan consolidation or other repayment programs without paid assistance at no cost through the Department of Education (DOE) at www.ed.gov We are not a law firm nor are such representations being made.

Please read the Full Terms & Conditions, Privacy Policy, Cookies Q&A