Revised Pay As You Earn Calculator

OriginalREPAYESavings
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$42,390$42,390
Repayment term~10yr~20yr~10yr
Your monthly payment on REPAYE 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 $42,390 in forgiveness, compared to your current plan where you will pay $45,960 over the next ~10 years.

Total balance paid

Total forgiveness

CURRENT

$45,960

REPAYE

$25,226

$0
$5,000
$10,000
$15,000
$25,000
$30,000
$35,000
$40,000
$45,000