
IBR, PAYE, REPAYE—if you're puzzled by student loan repayment options, a new calculator is here to help you simplify the decision-making process.
The aptly named Student Loan Calculator is user-friendly and straightforward. Simply enter the details of your federal loans, including balances, interest rates, and payments made so far. You can even input your income and tax filing status for a tailored recommendation.
After entering your information, the calculator provides estimates for payments, timelines, and total amounts for nine repayment plans. It also highlights restrictions for each plan, such as those based on your discretionary income and those requiring proof of financial hardship.
This calculator was created in collaboration with The Institute of Student Loan Advisors (TISLA), a nonprofit organization dedicated to providing support for borrowers.
I gave the calculator a test run. Here’s the outcome when I entered a scenario with $30,000 in graduate loans and a $50,000 yearly income:


The calculator only displays repayment plans you're actually eligible for, saving you time by filtering out options that don’t match your loan type or income level. It might even reassure you that the plan you're currently on is the best option for your situation, giving you a boost in confidence as you continue paying off your loans.
However, the tool isn't all-encompassing: If you have private loans, you won’t be able to use the calculator. Additionally, if both you and your spouse have loans, you can’t look at repayment options split by individual borrowers.
While you’ll need to contact your loan servicer to confirm eligibility for any repayment plan changes, this calculator can greatly simplify your initial research and help you better understand your options.
