Student Loan Payoff Calculator
Compare federal student loan repayment plans for 2026: Standard 10-year, IBR, the new Repayment Assistance Plan (RAP), and PSLF. See monthly payments, total paid, and forgiveness timelines.
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Federal Student Loan Repayment Plans: Which Is Right for You?
The best repayment plan depends on three factors: your income relative to your debt, whether you work for a qualifying PSLF employer, and how you value paying less now vs. paying less overall.
Plan Comparison at a Glance
| Plan | Payment Based On | Forgiveness | Best If |
|---|---|---|---|
| Standard 10-Year | Fixed (no income consideration) | None | Debt < 1× annual income |
| IBR | 10–15% of discretionary income | 20–25 years | Existing borrowers with high debt relative to income |
| RAP (new July 2026) | 1–10% of AGI | 30 years | New borrowers; very low incomes |
| PAYE / ICR | 10–20% of discretionary income | 20–25 years | Existing borrowers only; both end by mid-2028 |
| PSLF + Any IDR | IDR payment | 10 years | Government/nonprofit workers |
The IDR Forgiveness Tax Question
The temporary rule that made forgiven student debt tax-free expired at the end of 2025. From 2026, a balance forgiven under IBR, PAYE, ICR or RAP generally counts as taxable income on your federal return, and some states tax it too. PSLF forgiveness and discharges for death or total and permanent disability remain federally tax-free. If you’re heading for forgiveness after 20–30 years, the forgiven balance could be large — plan for the tax bill. The SAVE plan is closed: borrowers had until September 30, 2026 to move to another plan.
Should You Refinance Federal Loans?
Refinancing converts federal loans to private loans — permanently eliminating access to IDR plans, PSLF, and federal forbearance protections. Only refinance if: you’re not pursuing PSLF, you have stable income that won’t need IDR, AND you can get a meaningfully lower rate. Federal graduate loans issued for 2026–27 carry 8.07% (9.07% for PLUS); if you can get 5.5% privately and your employment is stable, refinancing saves real money.
For calculating payoff on private loans, use our Loan Calculator.
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