Pay As You Earn (PAYE) Calculator

OriginalPAYESavings
First month's payment$383$58$325
Last month's payment$383$167$216
Total balance paid$45,960$25,226$20,734
Total forgiveness$0$49,783$49,783
Repayment term~10yr~20yr~10yr
Your monthly payment on PAYE would be $58, a difference of $325 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 $167. After making payments for ~20 years, you will have paid a total of $25,226 and would receive $49,783 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

PAYE

$25,226

$0
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