Planning and Budgeting Calculator
 

Income-Based Repayment Calculator

The Income-Based Repayment (IBR) plan was proposed as part of the College Cost Reduction and Access Act of 2007 to be available on July 1, 2009. The purpose of this program is to ensure that students who invest in a college education are also positioned to be able to repay their student loan debt (or are able to make their full student loans payments).

Income-Based Repayment is available for Federal Family Education Loan Program (FFELP) and/or Federal Direct Loan Program (FDLP) loans. Private loans, Federal Parent PLUS Loans, and Federal Consolidation Loans containing prior Federal Parent PLUS Loans are not eligible for this type of repayment plan. This repayment plan caps monthly payments at 15% of you and your spouse’s monthly discretionary income. Under an IBR plan, your repayment term may be extended up to 25 years of qualifying payments and Economic Hardship Deferment./p>

Calculate Your Income Based Repayment

What is your place of residency?
When filing last years tax return, did you file?
What was your Adjusted Gross Income on your tax return last year?
Note: If you would like to include your spouse’s federal student loan debt, include their Adjusted Gross Income in this amount.
 
What is your family size?
 
What is your total amount of outstanding student debt?
Note: If you would like to include your spouse’s federal student loan debt, show the combined outstanding student loan debt in this field.
 
Note: This amount includes loans from the Federal Family Education Loan Program (FFELP) and Federal Direct Loan Program (FDLP). This amount does not include balances on, Private Loans, Federal Parent PLUS Loans and Federal Consolidation Loans containing prior Parent PLUS loans.
What is the interest rate on your Federal Student Loan?
 
Note: If your interest rate is 4.6%, enter 4.6. If you have more than one loan with different interest rates, use the highest rate or an average of the interest rates. If your interest rate is unknown, enter 6.0.
Income Based Repayment:
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