Student Loan SAVE & IDR Repayment Calculator
Calculate monthly student loan payments under the SAVE and IDR plans, 225% poverty line exemptions, interest subsidies, and 20-year forgiveness.
Calculated Results
Frequently Asked Questions
How does the federal SAVE (Saving on a Valuable Education) plan work?
The SAVE plan protects income up to 225% of the federal poverty guideline ($33,850 for an individual in 2026), capping undergraduate loan payments at 5% of discretionary income above that threshold. If your monthly payment doesn't cover accrued interest, the government forgives the unpaid interest so your balance never balloons.
Who qualifies for a $0.00 monthly student loan payment?
Under the 225% poverty rule, any single borrower earning less than approximately $33,850 per year (or a family of 4 earning under $69,375) has a required monthly student loan payment of exactly $0.00, while still earning credit toward 20-year loan forgiveness.
What is Public Service Loan Forgiveness (PSLF)?
PSLF forgives 100% of remaining federal Direct Loan balances tax-free after 120 qualifying monthly payments (10 years) while working full-time for a qualifying government agency or 501(c)(3) non-profit organization.
Is student loan forgiveness taxable as income?
Under the American Rescue Plan Act, federal student loan forgiveness is federally tax-free through December 31, 2025. Unless extended by Congress, non-PSLF income-driven forgiveness after 2025 may be treated as taxable income under federal or state law.