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Standard vs. SAVE, PAYE, IBR.

Switch between standard amortization and income-driven repayment plans. We use 2024 HHS poverty lines and the actual rate-of-discretionary-income for each plan, so you can see your true monthly payment and what gets forgiven at the end of the term.

Your Loans

Balance $ federal student loans

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Educational estimate. Income-driven plans require annual recertification, and discretionary-income definitions change with each new presidential administration. Use studentaid.gov for the official figure.

How Income-Driven Plans Actually Work

Federal income-driven repayment (IDR) plans cap your monthly payment at a percentage of discretionary income — defined as your AGI minus a multiple of the federal poverty line for your household size. The remaining balance after 20 or 25 years of payments is forgiven (subject to taxation in some cases).

SAVE undergrad: 5% of discretionary above 225% poverty, forgiven at year 20.
SAVE graduate: 10% of discretionary above 225% poverty, forgiven at year 25.
PAYE: 10% of discretionary above 150% poverty, forgiven at year 20.
IBR (new borrowers): 10% of discretionary above 150% poverty, forgiven at year 20.
IBR (old borrowers): 15% of discretionary above 150% poverty, forgiven at year 25.

The 2024 Poverty Lines (48 States + DC)

Family of 1: $15,060. Add $5,380 per additional person. So a family of 4 has a poverty line of $31,200. Multiply by the plan's poverty multiple (1.5× or 2.25×) to get your discretionary-income threshold.

Standard vs. IDR — When Each Wins

Standard 10-year repayment is mathematically the cheapest if you can afford the payment, because you stop accruing interest sooner. IDR wins when:

Your debt-to-income ratio is over 1.0 (you owe more than you earn in a year).
You're pursuing public-service loan forgiveness (PSLF) — IDR + 120 qualifying payments = full forgiveness, tax-free.
Your career income is permanently below what the standard payment requires.

Worked Example

$42,000 in federal undergrad loans, 6.53% rate, $58,000 AGI, family of 1:

Standard 10-year: $478/mo, $15,397 interest, paid off in 120 months.
SAVE undergrad: Discretionary income = 58,000 − (15,060 × 2.25) = $24,115. Monthly payment = 5% × 24,115 ÷ 12 = $100.50. Over 20 years that's $24,120 paid; the remaining ~$50,000 (plus accrued interest) is forgiven.

SAVE saves cash flow today but costs $9,000+ more in lifetime interest. Pick based on whether you'll qualify for PSLF or expect significant income growth.