GET READY FOR A FEDERAL STUDENT LOAN SERVICER SHAKE-UP

Student Loan Repayment Simulator


Borrower Information
When and how much you borrow is a primary factor for evaluating your income-driven repayment options.
Graduation Year
Graduation Month
Preset Scenarios
Amount you expect to borrow
Repayment Plan
In-School+Grace Period Interest
Average Interest Rate
Your interest rate input is affected by the CARES Act suspension. Please enter your best guess of the average interest rate for your loans prior to the CARES Act adjustment.
Years in Repayment
Years of Public Service:
As part of the COVID-19 interest and payment suspension, federally held interest rates are set to 0% and payments are suspended automatically, starting March 13, 2020 through January 31, 2022. This may be extended. Use the dropdown list below to project the number of months this interest and payment suspension might be extended beyond January 31, 2022.
 
As the name implies, income-driven repayment plans are highly dependent on changes to your income.
Enter your income information as best as you can or let us project it for you.
Your Planned Annual Income
Did you know?
Your income-driven payments can be based on your taxable income, specifically your Adjusted Gross Income (AGI) from a recently filed tax return. Enter your most recent AGI as Your Annual Income when available.
Students/New Grads
If you file a tax return before you graduate, your income-driven repayment plan payment can be $0/month for the first 12 months of repayment and very low in the second 12 months of repayment. Most new graduates will have little to no income during their final year and only half a year’s income in their graduation year. Click the button below to automatically adjust your first two income year inputs. Review the new graduate student loan playbook for more information.
Reset
Since federal income-driven repayment plans are tied to your yearly income and family size,
the simulation will be highly dependent on your specific family situation.
Dependent Information
Tax Rate on Forgiveness (%)
Forgiveness Savings Interest Rate (%)
Current Forgiveness Savings
Poverty Growth Rate (%)
Additional Monthly Student Loan Contributions
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To Save/Share these results, please click the Copy to Clipboard button below. Alternatively, you can highlight the URL in the box below and press CTRL-C (Windows) or Command-C (Mac). Once copied, paste into your desired location using CTRL-V/Command-V.

You may also choose to bookmark these results using CTRL-D/Command-D.

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