Estimate your income-driven repayment (IDR) monthly payment and project the loan balance that may be forgiven at the end of your repayment term.
Under an income-driven repayment (IDR) plan, your monthly student loan payment is based on your discretionary income rather than your loan balance. Discretionary income is your annual income minus a percentage of the federal poverty guideline for your family size. Whatever balance remains after making qualifying payments for 20 or 25 years (depending on the plan) can be forgiven.
Discretionary Income = Annual Income − (Poverty % × Poverty Guideline for family size)
Monthly Payment = (Discretionary Income × Payment %) ÷ 12
Projected Balance = Loan Balance grown by interest each year minus payments made, repeated until the forgiveness term ends.
Enter your current loan balance and interest rate, your annual income and family size, choose the repayment plan you are on (or considering), and select the standard 20 or 25-year forgiveness term. Add how many years you have already spent in repayment if you are partway through.
A borrower with a $35,000 balance at 6% interest, earning $45,000/year, family size of 1, on the SAVE plan (10% above 225% of poverty) with a 25-year term and 0 years already completed would see a discretionary income of roughly $11,565, a monthly payment near $96, and — because that payment is often lower than the interest that accrues — a meaningful portion of the balance projected to be forgiven at year 25.
This tool provides a simplified estimate for planning purposes only. Actual IDR payments, poverty guidelines, and forgiveness rules are set by the U.S. Department of Education and can change — always confirm your exact numbers at studentaid.gov or with your loan servicer.
It projects payments under an income-driven plan, tracking progress toward the forgiveness threshold (often 20-25 years).
Historically sometimes treated as taxable income, though rules have changed — check current regulations.
Payments are typically recalculated annually based on updated income and family size.