Home » Resources for Borrowers » SAVE & IDR Plan Payment Calculator
ALERT: Please be advised that the SAVE plan is temporarily blocked by a court order and the only way to enroll in any IDR plan is through a paper application at this time. Learn more.
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IDR plan calculations are based on the accuracy of the inputs. Estimates will be different if you live in Alaska or Hawaii.
Please note that numbers above are estimates only.
Definitions:
Adjusted Gross Income (AGI) – Can be found on line 11 of the IRS 1040 form on tax returns filed in 2021 or 2022.
Family Size – Includes dependent children (including unborn children) and adults who live with you (other than your spouse) for whom you provide more than half support. Married borrowers: include your spouse if you file your taxes jointly; do not include your spouse if you file your taxes separately.
Federal Poverty Level (FPL) – An income level used by the federal government to determine certain benefits depending on your family size. Numbers are adjusted annually for inflation.
Discretionary Income = AGI minus a percentage of the Federal Poverty Level (FPL) for a family of your size. The percentage of FPL is the amount of income that is protected from any payment.
Repayment Plan Calculations:
IBR (Any loans disbursed before July 1, 2024): Payments are calculated at 15% of Discretionary Income, where Discretionary Income = AGI minus 150% of FPL.
REPAYE/PAYE and IBR for New Borrowers (First loan disbursed on or after July 1, 2014): Payments are calculated at 10% of Discretionary Income, where Discretionary Income = AGI minus 150% of FPL.
SAVE (From October 1, 2023-June 30, 2024): Payments are calculated at 10% of Discretionary Income, where Discretionary Income = AGI minus 225% of FPL.
SAVE (Starting July 1, 2024): Payments are calculated at between 5% and 10% of Discretionary Income, where Discretionary Income = AGI minus 225% of FPL. The % of Discretionary Income will be 5% if you have all undergraduate school loans, 10% if you have all graduate school loans or a weighted average if you have both. Loan balances used for this calculation will be the originally disbursed principal amounts.
Disclaimer: CSS is not liable for any inaccuracies, errors, or omissions in the calculated results. The calculator is intended to provide estimated figures for educational purposes only.
