Income-Contingent Repayment (ICR) Calculator

OriginalICRSavings
First month's payment$383$215$168
Last month's payment$383$244$139
Total balance paid$45,960$64,359$18,399
Total forgiveness$0$0$0
Repayment term~10yr~23.4yr~13.4yr
Your monthly payment on ICR would be $215, a difference of $168 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 $244. After making payments for ~23.4 years, you will have paid a total of $64,359 and would receive $0 in forgiveness, compared to your current plan where you will pay $45,960 over the next ~10 years.

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Total balance paid

Total forgiveness

CURRENT

$45,960

ICR

$64,359

$0
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