Federal Loan Repayment Plan Comparison
Federal student loans offer several repayment plans. Some charge a fixed amount over 10 years, others base your payment on what you actually earn that year, and can reduce it to $0 if your income is low enough. Enter your income, loan balance, and family size to compare all four plans side by side: monthly payment, total you pay over time, and how much would be canceled at the end.
How federal student loan repayment works
Federal loans come with two types of repayment plans. The Standard 10-year plan sets a fixed payment based on your balance and pays it off in 10 years. The other three plans — SAVE, IBR, and ICR — set your payment based on what you actually earn that year, not what you borrowed. If your income is low, your payment can drop to $0. After 20 or 25 years of payments, any remaining balance is canceled.
Standard 10-year
Fixed payment, paid off in 10 years. No forgiveness.
per month
$397
Timeline
10 yr
paid off
You pay
$47,690
total payments
Interest paid
$12,690
extra paid
SAVE
Lowest costLowest payments. Unpaid interest waived — balance never grows.
per month
$75
Timeline
20 yr
to forgiveness
You pay
$18,115
total payments
Forgiven
$35,000
tax may apply
$29,575 less than the standard plan
IBR
10% of discretionary income. Capped at standard payment.
per month
$245
Timeline
20 yr
to forgiveness
You pay
$58,820
total payments
Forgiven
$7,782
tax may apply
$11,130 more than the standard plan
ICR
20% of discretionary income. Forgiven after 25 years.
per month
$616
Timeline
5 yr 9 mo
paid off
You pay
$41,949
total payments
Interest paid
$6,949
extra paid
$5,741 less than the standard plan
About PSLF
If you work full-time at a government agency or qualifying nonprofit, PSLF cancels your remaining balance after just 10 years (120 payments) — completely tax-free. With PSLF, the SAVE plan above becomes even more powerful: lower payments for 10 years, then full forgiveness. The total you pay could be far less than any column above shows.
About forgiveness and taxes
The amount forgiven under SAVE, IBR, or ICR (after 20 to 25 years) may be taxable income at the federal level in the year of forgiveness — unlike PSLF, which is always tax-free. Plan for a potential tax bill on any forgiven amount.
Assumes constant income and interest rate throughout the repayment period. Income-based payments are calculated using 2025 federal poverty guidelines. SAVE uses the 5% undergraduate rate. IBR reflects new-borrower terms. Forgiveness tax not included in total paid. Enroll in these plans free at studentaid.gov.
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Make sense of your student loans
Federal vs. private, income-driven repayment, and forgiveness options.