Calculate Your Monthly Payment for RAP
Our Repayment Assistance Plan calculator estimates monthly payments based on the new RAP income-driven repayment plan and compares payments to refinancing your student loans. We can help if you don't know what to do with your loans.
Note that RAP is not yet available to enroll in as your IDR plan. We expect it to become available by July 2026, if not sooner.
What is your family size? (including unborn children) 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.
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.
How much TOTAL federal student debt do you owe? Input the current balance of all of your federal student loans.
Are you legally married?
Are you filing taxes separately? If married, you have the option of filing taxes as "Married Filing Jointly" or "Married Filing Separately."
List the smaller of your spouse's prior year AGI or current income You can find your AGI on IRS Form 1040, line 8b. If you don't have this handy, you may use an estimate.
How much federal student debt does your spouse owe? Input the current balance of all of your spouse's federal student loans.
| RAP | Refinanced 10 year @ 5% Monthly payment if the loan is refinanced at 5.00% APR for a 10-year term. |
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|---|---|---|
| Your Monthly Payment | ||
| Spouse's Monthly Payment | ||
| Total |
How to Use the RAP Calculator
- Enter Your Details:
- Current federal loan balance
- Family size
- Marital status
- AGI
- Spouse's AGI and debt, if applicable.
- View results
- Estimated monthly RAP payments
- Estimated spouse's monthly RAP payments, if applicable
- Estimated monthly payments when refinancing student loans instead
Tip: Compare your RAP results with New IBR or Standard Repayment scenarios to make informed decisions.
RAP Highlights
| Feature | RAP Details (2025 Update) |
|---|---|
| Minimum Payment | $10 per month |
| Maximum Payment | 10% of AGI ÷ 12 |
| Dependents Credit | $50 monthly deduction per dependent |
| Interest Subsidy | 100% waiver of unpaid monthly interest |
| Principal Subsidy | Up to $50 monthly if payment doesn't cover principal |
| Tax Filing Option | Married borrowers may file separately to exclude spouse’s income |
| PSLF Forgiveness | After 120 qualifying payments (~10 years) |
| Forgiveness | After 360 qualifying payments (~30 years) |
| Eligibility | All Direct Loan borrowers from July 2026; existing borrowers should evaluate carefully |
Important RAP Dates & Eligibility Checkpoints
- July 1, 2026: RAP scheduled to become an option for federal loans.
- July 1, 2026 – June 30, 2028: Consolidation during this period may lock you into or out of RAP, so confirm carefully.
- Annual Income Recertification: Update your income annually, similar to current IDR plans.
Should You Refinance Instead of Using RAP?
RAP can be a great option for borrowers who need flexibility, interest subsidies, or are pursuing PSLF. But in some cases, refinancing your student loans with a private lender could be the better path, especially if you:
- Have a high credit score and stable income
- Work in the private sector and don’t qualify for PSLF
- Want to pay off your loans quickly and reduce interest costs
If you qualify, refinancing lets you replace your federal loans with a new private loan, often at a lower interest rate. This can save you thousands in interest and help you pay off debt faster. But it’s not reversible. You’ll lose federal protections like:
- Access to RAP and other IDR plans
- PSLF eligibility
- Deferment and forbearance options
If your top priority is minimizing long-term interest costs and you’re not relying on forgiveness, refinancing could be worth exploring. But for many borrowers, especially those with six-figure balances or uncertain job paths, staying in the federal system with RAP may offer better long-term security.
A quick rate check with a lender like Splash Financial or SoFi would show how much interest savings you could qualify for (and you get a refinancing bonus of up to $1,000 if you use them).
SoFi®: Best if you're unsure where to apply
- Positives: Competitive rates, flexible terms and view rates in just two minutes
- Allows cosigners: Yes, but no cosigner release offered
- Deferment or forbearance available: Yes, in limited situations
- Interest rates: Fixed rates 4.49 – 9.99% APR with all discounts; Variable rates 5.99 – 9.99% APR with all discounts
- Bonus: $500 for refinancing 100k or more (bonus from Student Loan Planner®, not SoFi®)
SoFi® continues to be one of the top companies by total refinancing volume. They offer residency, fellowship and Parent PLUS refinancing. SoFi® is currently offering rate discounts for fixed and variable loans, including a 0.25% autopay discount and a 0.125% SoFi Plus discount (requires enrolling in SoFi Plus). Get up to a $500 bonus paid from Student Loan Planner®, not SoFi, when you click through this link to see if you qualify and refinance your student loans through SoFi. Additional terms apply. See disclosures. SoFi® disclosures. *See Student Loan Planner® disclosures.
Frequently Asked Questions
No. Existing borrowers retain access to New IBR, but new loans after July 2026 automatically use RAP unless future legislation alters this.
You may switch to fixed repayment or refinance privately, but you cannot revert to New IBR after consolidating a loan under RAP.
Yes, RAP forgiveness is taxable, except for PSLF, which remains tax-free.
No, RAP is exclusively available for federal Direct Loans.
Ready to Get Your Personalized Estimate?
Use our calculator to explore your RAP scenario. Still have questions? Schedule a consultation with a Student Loan Planner® expert for tailored advice.
