Finance Tools
Income-Based Repayment (IBR) Calculator
Compare a standard student loan payment with an income-based repayment amount based on your annual income and payment percentage.
Compare a standard fixed student loan payment with an income-based repayment amount based on your annual income and payment percentage.
How to use this income-based repayment (ibr) calculator
- Enter your total student loan balance.
- Enter the annual interest rate (APR) on your student loan.
- Enter the standard repayment term in years (for example, 10 years).
- Enter your annual income and the percentage of income you can allocate to student loan payments.
- Click Calculate to compare the standard monthly payment with an income-based payment estimate.
Example
For example, if you have $45,000 in student loans at 6% interest over 10 years, with an annual income of $55,000 and 10% allocated to loan payments, this calculator will show:
- The standard monthly payment required to pay off the loan in 10 years.
- The estimated income-based monthly payment based on your income and payment percentage.
- How the income-based payment compares to the standard payment.
More tools in Finance Tools
- IBR Plan Calculator
Estimate your student loan payment under a simplified IBR (Income-Based Repayment) model using discretionary income. Choose 10% vs 15% rate and optionally compare payment vs estimated monthly interest.
- Education Loan Repayment Calculator
Calculate education loan repayments for monthly, biweekly, or weekly schedules. See repayment amount, total repaid, and total interest.
- Parent PLUS Loan Repayment Calculator
Estimate Parent PLUS loan repayment amounts and total interest for a fixed-rate loan. Compare monthly, biweekly, and weekly repayment schedules.
- Income-Driven Repayment (IDR) Calculator
Estimate your monthly payment under an income-driven repayment (IDR) plan based on income, family size, and payment percentage. Compare IDR with standard repayment.