Standard repayment, extra payments, or income-driven with forgiveness — three very different roads out of the same debt.
IDR plans typically charge ~10% of income above 150% of the federal poverty line, with the remainder forgiven after 20–25 years (taxable as income in many cases).
| Plan | Payoff | Total paid | Interest / forgiven |
|---|
This student loan calculator lays three repayment roads side by side: standard ten-year repayment, accelerated payoff with extra payments, and income-driven repayment with eventual forgiveness. Each has a very different timeline and total cost.
The calculator lays three repayment paths side by side: standard 10-year amortization, an accelerated payoff with extra monthly payments, and an income-driven plan that caps payments at a share of your discretionary income and forgives the remaining balance after 20–25 years. Income-driven payments rise with your projected income, and any forgiven balance may be taxable.
Standard repayment runs ten years; extra payments shorten it; income-driven plans stretch 20–25 years but may forgive the remainder. The calculator shows each path.
It caps your payment at a share of discretionary income and forgives any balance left after 20–25 years, though forgiven amounts may be taxable.
Yes. With no prepayment penalty, extra payments go straight to principal, cutting both the payoff time and the total interest you pay.
It caps your monthly payment at a percentage of discretionary income and forgives whatever's left after 20–25 years. Payments can be much lower, but you pay longer and may owe tax on the forgiven amount.
If your loan rate is higher than what you'd earn investing, extra payments are a guaranteed return. If the rate is low, or you're pursuing forgiveness, the math can favor paying the minimum.
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