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US Student Loan Repayment Calculator

Compare standard fixed amortization against the SAVE Income-Driven Repayment (IDR) plan. Estimate payments based on AGI, track interest subsidies, and project forgiveness.

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Repayment plan
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%

SAVE Income Inputs

$
people
Monthly Payment
$122.71
Payoff Period
20.0 years
Total Repaid
$29,450.40
Estimated Forgiven
$45,000.00
Under the SAVE (Income-Driven), a student loan of $45,000 at 5.50% will require monthly payments of $122.71. The total amount paid over the life of the loan is $29,450.40. A total of $20,049.60 in unpaid interest is covered by the government subsidy, and $45,000.00 in remaining principal and interest will be forgiven at the end of the term.
Monthly Payment$122.71

Amortization Schedule

Yearly breakdown of payments, interest, and remaining balance
YearEnding BalancePaymentsInterest PaidPrincipal PaidSubsidized InterestCumulative Paid
1$45,000.00$1,472.52$1,472.52$0.00$1,002.48$1,472.52
2$45,000.00$1,472.52$1,472.52$0.00$1,002.48$2,945.04
3$45,000.00$1,472.52$1,472.52$0.00$1,002.48$4,417.56
4$45,000.00$1,472.52$1,472.52$0.00$1,002.48$5,890.08
5$45,000.00$1,472.52$1,472.52$0.00$1,002.48$7,362.60
6$45,000.00$1,472.52$1,472.52$0.00$1,002.48$8,835.12
7$45,000.00$1,472.52$1,472.52$0.00$1,002.48$10,307.64
8$45,000.00$1,472.52$1,472.52$0.00$1,002.48$11,780.16
9$45,000.00$1,472.52$1,472.52$0.00$1,002.48$13,252.68
10$45,000.00$1,472.52$1,472.52$0.00$1,002.48$14,725.20

Worked example

With a $35,000 student loan at 5.5% interest under the Standard 10-Year plan: your monthly payment will be $379.84. You will pay a total of $45,580.80 over the life of the loan, including $10,581.18 in interest charges.

Frequently asked questions

What is the SAVE student loan plan?

The Saving on a Valuable Education (SAVE) plan is the newest US Income-Driven Repayment (IDR) plan. It bases payments on 225% of the federal poverty guidelines, lowering monthly payments to $0 for many borrowers, and waives unpaid monthly interest so balances don't grow.

How long does it take for US student loans to be forgiven?

Under IDR plans (like SAVE), undergraduate loans are forgiven after 20 years of payments and graduate loans after 25 years. Under the Public Service Loan Forgiveness (PSLF) program, forgiveness occurs after 10 years (120 qualifying payments) for public service workers.