Compare your options
Estimates for federal loans only, using 2026 HHS poverty guidelines and the RAP rules effective July 1, 2026. Everything stays in your browser — nothing is uploaded.
Assumes your income and family size stay constant for illustration. IDR payments are recertified annually, and your real totals will differ as income, poverty guidelines, and rules change. RAP totals include the interest-waiver benefit but not future income growth.
How the math works
All three are shown so you can see the trade-off between monthly relief and total cost.
Income-Based Repayment (IBR)
10% of discretionary income if your first loan was on/after July 1, 2014 (otherwise 15%). Discretionary income = AGI − 150% × HHS poverty guideline. For a single borrower in the contiguous states, 150% of the 2026 guideline ($15,960) is $23,940. Payments are capped at the 10-year Standard amount; forgiveness after 20 years (new borrowers) or 25 years.
Repayment Assistance Plan (RAP) — new July 1, 2026
1%–10% of your entire AGI by $10,000 bracket, minus $50/month per dependent, with a $10 minimum even at the lowest incomes. Unpaid monthly interest is waived so your balance cannot grow if you pay on time. Forgiveness after 360 on-time payments (30 years).
Standard (10-year)
Classic fixed amortization: the same payment every month for 120 months. Highest monthly cost, lowest total interest, no forgiveness needed. Note: loans first disbursed on/after July 1, 2026 use a new tiered Standard schedule of 10–25 years by balance.
Frequently asked questions
What happened to the SAVE plan?
SAVE was terminated following court rulings and 2025–2026 legislation. The Department of Education notified roughly 7 million enrollees in mid-2026 to pick another plan within about 90 days.
What are my main choices now?
IBR, the new RAP plan, or a Standard plan. PAYE and ICR are being phased out for new enrollees; most borrowers leaving SAVE will realistically weigh IBR against RAP.
Which plan has the lowest monthly payment?
It depends on your income and family size — that is exactly what the calculator above shows. Try it: for many middle incomes RAP comes out lower; below roughly 150% of the poverty line IBR can be $0, which RAP never goes below $10.
What if I miss my deadline?
Reported guidance says non-responders risk being placed on a default (Standard) plan with much higher payments. Confirm your specific date in your servicer account or at studentaid.gov.
Will forgiven amounts be taxed?
Maybe. The federal tax-free treatment of forgiven student debt expired at the end of 2025. Balances forgiven under IBR or RAP may be taxable income when forgiven unless Congress acts. PSLF remains federally tax-free.
Does any of this cover private loans?
No — these plans are for federal loans only. For private loans, ask your lender about hardship options or compare refinancing.
Sources & methodology
We link primary sources so you can verify every number. Last reviewed: July 2026.
- Federal Student Aid — your actual balances, rates and plan eligibility.
- HHS/ASPE poverty guidelines — 2026 values used in IBR discretionary-income math.
- Saving for College: RAP explained — worked examples of the 1%–10% AGI brackets.
- EdTrust: How RAP works — $10 minimum, $50 dependent credit, 30-year forgiveness.
- The Guardian (Jul 2026) — SAVE termination and the 90-day switch window.
Disclaimer: This is an independent, unofficial estimator for education only — not financial, tax, or legal advice. Rules are changing quickly in 2026; always confirm decisions with your loan servicer and the official Loan Simulator at studentaid.gov before you switch plans.