IDR Plan Comparison Calculator
Compare all four Income-Driven Repayment (IDR) plans — SAVE, PAYE, IBR, and ICR. See your estimated monthly payment, total repayment, and potential forgiveness under each plan.
Federal Poverty Line: $15,650
| Plan | Monthly Payment | Total Repayment | Years to Payoff/Forgive | Forgiveness Amount |
|---|---|---|---|---|
| SAVE | $103.28 | $24,787.5 | 20 | $75,748.41 |
| PAYE | $304.38 | $56,776.31 | 16 | — |
| IBR | $304.38 | $56,776.31 | 16 | — |
| ICR | $739.17 | $41,837.77 | 5 | — |
IDR Plan Comparison
Frequently Asked Questions
Which IDR plan gives the lowest monthly payment?
For most borrowers, the SAVE plan will produce the lowest monthly payment because it uses 225% of the Federal Poverty Level to calculate discretionary income (vs 150% for other plans) and charges 5% of that for undergraduate loans. However, your specific income, family size, and loan balance determine your best option — use this calculator to compare all four.
Will my forgiven amount be taxed?
Under current law, IDR forgiveness is federally tax-free through 2025 due to the American Rescue Plan. After 2025, forgiven amounts may be considered taxable income unless Congress extends the provision. State tax treatment varies — some states have confirmed they won't tax forgiven student loans, while others may. Consult a tax professional for your specific situation.
Can I switch between IDR plans?
Yes, you can switch between IDR plans at any time by submitting a new IDR application to your loan servicer. There's generally no penalty for switching. Your payment count toward forgiveness (20 or 25 years) carries over between plans. If your income or family situation changes significantly, recertifying or switching plans can help keep your payments manageable.
This calculator provides educational estimates. IDR plan rules are subject to change. Actual payments depend on certified income documentation. Source: Federal Student Aid IDR formulas.