🎓 Updated July 2026 · OBBBA / RAP Changes Included
Student Loan Calculator 2026-2027
Calculate monthly payments, compare all repayment plans, and get a personalized recommendation — including the new RAP and Tiered Standard plans.
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Loan Type
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Loan Amount
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Repayment Plan
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Results
What type of loan do you have?
Select your federal student loan type. This sets the correct interest rate.
Disbursed before July 1, 2026
2025–26 rates
2025–26 rates
Disbursed July 1, 2026 or later
2026–27 rates (new rules)
2026–27 rates (new rules)
📌 2025–26 rates apply. You retain access to legacy repayment plans (Standard, Graduated, Extended, IBR).
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Undergrad Subsidized
6.39%
Gov't pays interest while in school. Need-based. Best deal for undergrads. Max $23,000 lifetime.
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Undergrad Unsubsidized
6.39%
Interest accrues while in school. Available regardless of financial need. Max $31,000 lifetime (dependent).
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Graduate / Professional
7.94%
Higher rate for grad/professional students. Grad PLUS eliminated for new borrowers July 2026. Max $138,500 lifetime.
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Parent PLUS
8.94%
For parents of dependent undergrads. ⚠️ NOT eligible for RAP. New limit: $20k/yr, $65k lifetime (July 2026+).
How much did you borrow?
Drag the slider or type your amount. We'll calculate exactly how much you'll pay.
Added on top of required payment each month
Applied immediately at start of repayment
Which repayment plan fits you?
Plans marked ⚠️ Legacy are only available for loans before July 1, 2026. New plans marked 🆕 launch July 1, 2026.
Standard Repayment (10 years)
Fixed equal payments over 10 years. Lowest total interest of any plan. Best for borrowers who can afford the monthly payment.
✓ Best for: Borrowers who want to pay off debt fastest
Tiered Standard Plan 🆕
Replaces standard for new borrowers. Term based on balance: <$7.5k→10yr, $7.5–20k→15yr, $20–40k→20yr, $40k+→25yr. Fixed payments. $50 minimum.
✓ Best for: New borrowers after July 1, 2026
Graduated Repayment (10 years) ⚠️ Legacy
Payments start low and increase every 2 years. Same 10-year term but more total interest than standard. Good if your income will grow steadily.
✓ Best for: Early-career borrowers with expected income growth
Extended Repayment (25 years) ⚠️ Legacy
Stretches payments over 25 years for lower monthly bills. Significantly more total interest. No forgiveness. Must have over $30,000 in loans.
✓ Best for: Borrowers needing lowest possible monthly payment (legacy)
Repayment Assistance Plan (RAP) 🆕
1–10% of your AGI per month (min $10). $50/mo discount per dependent. Gov't waives unpaid interest monthly. Adds $50 principal if payment doesn't reduce it. Forgiveness after 30 years. PSLF eligible.
✓ Best for: Lower-income borrowers, PSLF seekers, new borrowers after July 2026
Income-Based Repayment (IBR) ⚠️ Legacy
10–15% of discretionary income. Forgiveness after 20 yrs (post-2014 loans) or 25 yrs (pre-2014). Only available if you don't take new loans after July 1, 2026.
✓ Best for: Existing borrowers not taking new loans, shorter forgiveness timeline than RAP
💰 Income & Household Details
From your most recent tax return
RAP: $50/mo discount per dependent
Used for IBR poverty line calculation
For IBR federal poverty guideline
Your Results
Standard 10-Year Plan
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Estimated Monthly Payment
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Total Amount Paid
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Total Interest
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Payoff Date
📊 Plan Comparison Charts
Total Cost Comparison
Balance Over Time
Principal vs Interest
📋 All Plans Side-by-Side
| Plan | Monthly | Total Paid | Total Interest | Term | Forgiveness |
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📅 Year-by-Year Schedule
| Year | Annual Payment | Principal Paid | Interest Paid | Remaining Balance |
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⚠️ 2026 Major Changes — What You Need to Know
🚨 Effective July 1, 2026 (One Big Beautiful Bill Act)
New federal student loans will only have TWO repayment options: the new Tiered Standard Plan and the new RAP. Graduated, Extended, PAYE, ICR, and SAVE plans are eliminated for new borrowers. SAVE was already terminated in March 2026.
📘 If your loans are BEFORE July 1, 2026
- Keep access to Standard, Graduated, Extended, IBR
- PAYE and ICR available until July 1, 2028
- Can switch to RAP voluntarily
- ⚠️ If you borrow again after July 2026, you lose legacy plans
- SAVE borrowers: 90-day window to choose new plan
📕 If your loans are AFTER July 1, 2026
- Only TWO plans available: Tiered Standard or RAP
- No Graduated or Extended plan
- No Grad PLUS loans available
- Parent PLUS: $20k/yr, $65k lifetime limit
- Graduate Unsubsidized: $20,500/yr, $100k lifetime limit
💰 2025–26 vs 2026–27 Interest Rates
| Loan Type | 2025–26 Rate | 2026–27 Rate | Change |
|---|---|---|---|
| Undergrad Subsidized & Unsubsidized | 6.39% | 6.52% | +0.13% |
| Graduate Unsubsidized | 7.94% | 8.07% | +0.13% |
| Grad PLUS (legacy borrowers only) | 8.94% | 9.07% | +0.13% |
| Parent PLUS | 8.94% | 9.07% | +0.13% |
Rates are fixed for the life of the loan once disbursed. Based on May 2026 10-year Treasury auction yield of 4.468%.
🔍 Subsidized vs Unsubsidized — What's the Difference?
✅ Subsidized Loan
- Government pays interest while you're in school at least half-time
- Interest also covered during grace period (6 months after graduation)
- Interest covered during deferment periods
- Must demonstrate financial need (FAFSA-based)
- Undergrads only · Max $23,000 lifetime
- Same interest rate as unsubsidized (6.39% / 6.52%)
⚠️ Unsubsidized Loan
- Interest starts accruing immediately upon disbursement
- Unpaid interest capitalizes (added to principal) when repayment begins
- Available to all students regardless of financial need
- Undergrad: max $31,000 (dependent) / $57,500 (independent)
- Graduate: max $20,500/yr, $138,500 lifetime
- If you can get subsidized loans, always take those first
📊 RAP vs IBR — Which Income Plan is Right for You?
❓ What is RAP (Repayment Assistance Plan)?
RAP is the new income-driven repayment plan effective July 1, 2026. Monthly payments = 1–10% of your Adjusted Gross Income (AGI), based on your income bracket. $10 minimum for all borrowers. $50/mo discount per dependent child. The government waives any monthly interest your payment doesn't cover, so your balance never grows during repayment. If your payment doesn't reduce your principal by $50, the government chips in the difference. Forgiveness after 30 years. PSLF-eligible.
❓ What is IBR (Income-Based Repayment)?
IBR is the legacy income-driven plan for borrowers who took out loans before July 1, 2026 and don't take new loans after that date. Payments = 10% of discretionary income (15% for pre-2014 borrowers). Discretionary income = AGI minus 150% of the federal poverty line for your family size. Forgiveness after 20 years (new IBR) or 25 years (old IBR). IBR is better than RAP for many borrowers because it has a shorter forgiveness timeline.
❓ RAP vs IBR — which saves more money?
It depends on your income. RAP has no poverty-line protection, so low-income borrowers with large families may pay more under RAP than IBR. However, RAP's interest waiver prevents balance growth. IBR's 20-year forgiveness beats RAP's 30-year timeline for many borrowers. Use this calculator to compare both with your actual numbers.
❓ What is PSLF (Public Service Loan Forgiveness)?
PSLF forgives remaining federal student loan balances after 10 years (120 payments) of working full-time for a qualifying government or nonprofit employer. Both RAP and IBR qualify for PSLF. The forgiven amount under PSLF is not taxed as income. This is the fastest forgiveness path available.
❓ What happened to SAVE, PAYE, and ICR?
SAVE was terminated by court order in March 2026. PAYE and ICR will sunset July 1, 2028 — borrowers on these plans must switch to IBR or RAP by then or be auto-enrolled. New borrowers after July 1, 2026 can only access RAP as an income-driven option.
💡 Tips to Save Money on Student Loans
While In School
- Max out subsidized loans before unsubsidized
- Make interest payments on unsubsidized loans to prevent capitalization
- Minimize private loans — federal always has better protections
- Work-study income doesn't count against FAFSA aid
- Apply for scholarships every year, not just freshman year
During Repayment
- Even $25–$50 extra per month saves thousands in interest
- Always pay on time — no grace on federal loans in repayment
- Enroll in autopay for 0.25% rate reduction
- Target highest-rate loans first (avalanche method)
- Refinancing → only if private, never lose federal protections
⚠️ This calculator is for educational purposes only. Actual loan payments, interest accrual, and forgiveness timelines may vary based on your specific loan servicer, exact disbursement dates, family size, income changes, and federal program eligibility. RAP, Tiered Standard Plan, and associated rules are based on the One Big Beautiful Bill Act (OBBBA) effective July 1, 2026. Always verify your repayment options at studentaid.gov or consult a certified student loan advisor. CramBookNotes.com does not provide financial, tax, or legal advice.
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