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Compare standard, accelerated, extended, and income-driven repayment side by side. See your debt-free date and exactly how much interest each plan costs.
2025 federal undergrad rate: 6.53%
Added on top of standard payment
For federal loans only. Used to calculate your IDR payment.
IDR = 10% of income above 225% poverty line
Enter your loan details and click Compare Repayment Plans
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Disclaimer: Results are estimates for educational purposes only and should not be considered financial advice. Consult a licensed financial advisor before making investment, mortgage, or major financial decisions.
The calculator compares monthly payment, total interest paid, and payoff date across four plans. Standard repayment (10 years) has the highest monthly payment but the lowest total interest — ideal if you can afford it. Income-driven repayment (IDR) plans like SAVE cap payments at 5–10% of discretionary income, making them affordable on any salary, with forgiveness after 10–25 years. Extended repayment (25 years) lowers payments but costs significantly more in interest — usually worse than IDR.
$40,000 Loan at 6.5% — Plan Comparison
Standard (10yr)
$454/mo
$14,480 total interest
Extended (25yr)
$270/mo
$40,900 total interest
SAVE (IDR)
Income-based
forgiveness after 20yr
PSLF
IDR payments
10yr forgiveness tax-free
Rule of thumb: if your total loan balance is less than your annual starting salary, pay off aggressively on the standard plan. If your balance exceeds your annual salary (common in graduate/professional school), income-driven repayment with potential forgiveness is likely the better financial choice. Refinancing federal loans to private eliminates all IDR and forgiveness options — consider carefully before doing so.
The fastest way is to pay more than the minimum each month. Even an extra $50–100/month can cut years off your repayment and save thousands in interest. Refinancing at a lower rate is also effective if you have good credit.
IDR plans cap your monthly payment at 10–20% of your discretionary income. For federal loans, any remaining balance is forgiven after 20–25 years. Payments can be as low as $0 if your income is below a certain threshold.
Refinancing federal loans into private loans gives you a lower rate but permanently loses federal protections: IDR plans, forbearance, and loan forgiveness programs. Only refinance federal loans if you are certain you will not need those protections.
The avalanche method means paying the minimum on all loans and directing extra payments to the highest-interest loan first. This minimizes total interest paid. The snowball method (smallest balance first) is slower but provides psychological motivation.
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