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Student Loan Planner

The Best Student Loan Help for Six Figure Borrowers

Student Loan Forgiveness Calculator (w/ New SAVE Plan)

This student loan forgiveness New REPAYE / SAVE calculator compares new and old income-driven plans (IDR) and alternative repayment options. We also use the latest 2023 federal poverty line numbers so you can accurately model your monthly payment, interest and more long term.

What is your family size? Enter the total number of people in your family including you, your spouse, and your children. Include unborn children who will be born this year.

What year did you start paying your student loans on an income driven plan? Enter today's year if you haven't started or just started

What annual rate of return do you think you can get on your investments?(%) Estimate of retirement and other stock market or other investments. The most common values used are between 2% and 10%.

%

What will your tax rate be in 20 to 25 years?(%) A tax rate between 20% and 50% is typical.

%

How much federal student debt do you owe? Input the current balance of all of your federal student loans.

What percent of your debt is from graduate school? Input the percent of your debt from graduate school

%

List the smaller of your prior year AGI or your current income Enter your adjusted gross income (AGI). You can find your AGI on your IRS Form 1040, line 8b. If you don't have this handy, you may use an estimate.

What's the average interest rate of all of your federal student loan debt? Enter your average interest rate (numbers only, do not include "%")

%

Did you borrow federal student loans before October 1, 2007?

Do you plan to work at a non profit or government employer full time for a period of at least 10 years? Enter "Yes" if you plan to work for an Public Service Loan Forgiveness eligible employer for at least 10 years.

Refinancing Assumptions

Do you want to use the automatic assumption that you can refinance your loans at 4.00% for a 10-year term, or would you like to manually model your own refinancing deal? Choosing "Automnatic" will assume you can refinance your student loans at 4% APR for a 10-year term. Choose "Manual" to customize the refinanced loan term and interest rate.

Estimated student loan refinancing interest rate (%) Typical range: 1% to 6%

%

Student loan refinancing term length in years 5, 7, 10, 15, and 20 year terms are most commonly available. A longer term selected will generally result in lower monthly payments.

Income Growth Assumption

Do you want to forecast your income automatically at 3% annual growth or enter it manually? Choose "Automatic" to forecast 3% annual income growth. Choose "Manual" to enable a field to input your own annual income growth rate.

Your 2023 Taxable Income (AGI)

Your 2024 Taxable Income (AGI)

Your 2025 Taxable Income (AGI)

Your 2026 Taxable Income (AGI)

Your 2027 Taxable Income (AGI)

Your 2028 Taxable Income (AGI)

Your 2029 Taxable Income (AGI)

Your 2030 Taxable Income (AGI)

Your 2031 Taxable Income (AGI)

Inputs for Spouse

Are you legally married?

Are you filing taxes separately?

How much federal student debt does your spouse owe?

What percent of your spouse's debt is from graduate school? Input the percentof your spouse's debt from graduate school

%

List the smaller of your spouse's prior year AGI or current income

Spouse’s Income Growth Assumption

Do you want to forecast your spouse’s income automatically at 3% annual growth or enter it manually? Choose "Automatic" to forecast 3% annual income growth. Choose "Manual" to enable a field to input your own annual income growth rate.

Your Spouse's 2023 Taxable Income (AGI)

Your Spouse's 2024 Taxable Income (AGI)

Your Spouse's 2025 Taxable Income (AGI)

Your Spouse's 2026 Taxable Income (AGI)

Your Spouse's 2027 Taxable Income (AGI)

Your Spouse's 2028 Taxable Income (AGI)

Your Spouse's 2029 Taxable Income (AGI)

Your Spouse's 2030 Taxable Income (AGI)

Your Spouse's 2031 Taxable Income (AGI)

Summary

Your Student Loan Repayment Summary (hide)

Repayment Plan Total Payments Forgiven Balance Taxes on Forgiven Debt Total Cost of Student Loan Repayment Present Value(Cost in Today's Dollars) Present value is the sum of all cash flows over the life of your loan repayment, including payments and applicable taxes, discounted to the present. It's an effective way to compare the true cost of repayment plans that stretch over different periods of time. Year Loans are Forgiven or Paid Off
New REPAYE / SAVE
20 Year PAYE / New IBR
Old REPAYE
25 Year Old IBR
Refinancing N/A N/A N/A
Standard 10 Year N/A N/A N/A
PSLF N/A N/A N/A

Your Spouse's Student Loan Repayment Summary (hide)

Repayment Plan Total Payments Forgiven Balance Taxes on Forgiven Debt Total Cost of Student Loan Repayment Present Value (Cost in Today's Dollars) Present value is the sum of all cash flows over the life of your loan repayment, including payments and applicable taxes, discounted to the present. It's an effective way to compare the true cost of repayment plans that stretch over different periods of time. Year Loans are Forgiven or Paid Off
New REPAYE / SAVE
20 Year PAYE / New IBR
Old REPAYE
25 Year Old IBR
Refinancing N/A N/A N/A
Standard 10 Year N/A N/A N/A
PSLF N/A N/A N/A

Details

Your Monthly Payment (show)

Spouse's Monthly Payment (show)

Your Student Debt Balance Over Time by Year (show)

Your Spouse's Student Debt Balance Over Time by Year (show)

Your Yearly Student Loan Interest (show)

Your Spouse's Yearly Student Loan Interest (show)

Present Value of Your Annual Student Loan Payments + Taxes on Forgiveness (show) Using your investment return assumption above

Present Value of Spouse's Annual Student Loan Payments + Taxes on Forgiveness (show) Using your investment return assumption above

Effective Interest Rate of Your Student Loans (show)

Effective Interest Rate of Your Spouse's Student Loans (show)