Income-Driven Repayment Calculator
Estimate federal student loan payments under PAYE, IBR, and SAVE from your income and family size. 2024 estimate.
Independently verified for accuracy
Calculator by Toolsloft ↗- Estimated monthly payment
- 186.75
- Estimated annual payment
- 2241
- Discretionary income
- 22410
- Poverty line used
- 15060
Estimate based on 2024 federal poverty guidelines. Not financial or legal advice. Confirm with your loan servicer or studentaid.gov.
This calculator estimates the monthly payment on a federal student loan under the income-driven repayment plans (PAYE, IBR, and SAVE). It works from your adjusted gross income and family size, the two figures that drive every income-driven formula. Figures use 2024 federal poverty guidelines and are an estimate, not financial or legal advice.
How this is calculated
Payments are a share of discretionary income, defined as your AGI minus a multiple of the federal poverty line for your family size. PAYE and the newer IBR charge 10 percent of discretionary income above 150 percent of the poverty line; older IBR charges 15 percent; SAVE uses 225 percent of the poverty line. The 2024 HHS poverty guideline for the 48 contiguous states and DC is $15,060 for one person plus $5,380 per additional person. Actual servicer figures also depend on loan type, tax filing status, and program rules that change over time.
How to use
- Enter your adjusted gross income (AGI).
- Enter your family size.
- Choose a repayment plan (PAYE, IBR, or SAVE) and read the estimated monthly payment.
Examples
- AGI $45,000, family of 1, PAYE:
$186.75 per month - AGI $30,000, family of 2, SAVE:
$0 per month
FAQ
- What is discretionary income?
- For these plans it is your adjusted gross income minus a multiple of the federal poverty line for your family size (150 percent for PAYE and IBR, 225 percent for SAVE). Payments are a percentage of that amount.
- Why might my estimated payment be $0?
- If your income is at or below the poverty threshold the plan uses, your discretionary income is zero, so the calculated payment is $0. Many low-income borrowers qualify for a $0 monthly payment.
- Is this the exact payment my loan servicer will charge?
- No. This is a 2024 estimate based on the published formulas. Your servicer also factors in loan type, filing status, spousal income, and program rules that can change, so confirm with them or on studentaid.gov.