Student Loan Calculator Estimate payments, compare repayment plans, and plan for forgiveness — with 2025 federal loan rul...
Student Loan Calculator
Estimate payments, compare repayment plans, and plan for forgiveness — with 2025 federal loan rules and IDR modeling.
Standard Repayment**:
- Fixed 120 payments (10 years)
- Formula: $$PMT = P \frac{r(1+r)^n}{(1+r)^n - 1}$$
- $30K @ 5.5% → **$323/mo**, $8,760 interest
SAVE Plan (2024+)**:
- 5% of discretionary income (AGI − 225% FPL)
- $0/mo if AGI ≤ 225% FPL (e.g., $32,288 single in 48 states)
- Unpaid interest never capitalizes
Federal Loan Rates (2024–25)**:
- Undergrad: 5.50%
- Grad: 7.05%
- PLUS: 8.05%
⚠️ Critical distinctions:
- PSLF Forgiveness**: Tax-free — for government/501(c)(3) workers with 120 qualifying payments
- IDR Forgiveness (20/25 yrs)**: Taxable income — $50K forgiven = ~$12.5K tax bill (25% bracket)
- SAVE Plan**: Eliminates tax bomb for balances ≤ $12K (single) / $18K (married)
✅ Pro Tip**: If pursuing PSLF, never refinance federal loans — you lose eligibility.
✅ Autopay Discount**: Enroll to get 0.25% rate reduction (often automatic — check servicer).
| Plan | $30K @ 5.5% | $60K @ 7.05% |
|---|---|---|
| Standard (10 yr) | $323/mo, $8,760 int | $691/mo, $22,920 int |
| SAVE ($50K AGI) | $102/mo, $42K forgiven* | $102/mo, $72K forgiven* |
| PSLF (10 yr) | $102/mo, $27.8K forgiven | $102/mo, $57.8K forgiven |
| Refinance @ 5.25% | $322/mo, $8,640 int | $678/mo, $21,360 int |
*After 20 years (undergrad) or 25 (grad); forgiven amount taxable unless covered by SAVE cap.
📉 Avg. Debt**:
- Undergrad: $37,000
- Grad: $89,000
- Parent PLUS: $31,770
➡️ Standard
Classic 10-year fixed plan — see interest and payoff date.
➡️ Income-Driven (SAVE)
Model payments based on income/family size — includes tax bomb warning.
➡️ Refinance
Compare private rates vs. federal — with risk disclosures.
➡️ PSLF
Track progress toward Public Service Loan Forgiveness.
Note: Uses 2025 Federal Poverty Levels, SAVE rules, and IRS life expectancy for IDR forgiveness timing.