🎓 Updated October 2026 · New RAP and Tiered Standard Rules Included
Student Loan Calculator 2026
Calculate your monthly payment, compare every repayment plan you qualify for, and get a personalized recommendation based on the federal rules that took effect July 1, 2026.
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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 and when it was disbursed. This sets the interest rate and the repayment plans you can use.
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. As long as you do not take out new federal loans after July 1, 2026, you keep access to legacy plans such as Standard, Graduated, Extended, and IBR.
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Undergrad Subsidized
6.39%
The government pays the interest while you are in school at least half-time. Need-based. Dependent undergrads can borrow up to $23,000 in subsidized loans in total.
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Undergrad Unsubsidized
6.39%
Interest builds while you are in school. No financial need required. Dependent undergrads have a $31,000 total limit for subsidized and unsubsidized loans combined.
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Graduate / Professional
7.94%
Grad PLUS ended for new borrowers on July 1, 2026. New limits: $20,500 per year and $100,000 total for graduate students, or $50,000 per year and $200,000 total for professional degrees.
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Parent PLUS
8.94%
For parents of dependent undergrads. ⚠️ Not eligible for RAP. New loans after July 1, 2026: $20,000 per year and $65,000 total per student, repaid on the Tiered Standard Plan.
How much did you borrow?
Drag the slider to set your amount. We will calculate how much you will pay under each plan.
Added on top of the required payment each month
Applied when repayment begins
Which repayment plan fits you?
Plans you cannot use with the loan type and date you selected are grayed out. ⚠️ Legacy plans are only for loans made before July 1, 2026. 🆕 New plans started July 1, 2026.
Standard Repayment (10 years) ⚠️ Legacy
Fixed equal payments over 10 years. The lowest total interest of any plan. Counts toward PSLF.
✓ Best for: Borrowers who can afford the payment and want to finish fast
Tiered Standard Plan 🆕
Replaces the 10-year Standard plan for new loans. The term depends on your balance: under $25,000 is 10 years, $25,000 to $49,999 is 15 years, $50,000 to $99,999 is 20 years, and $100,000 or more is 25 years. Fixed payments, no forgiveness.
✓ Best for: New borrowers who want a predictable fixed payment
Graduated Repayment (10 years) ⚠️ Legacy
Payments start low and rise 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 who expect raises
Extended Repayment (25 years) ⚠️ Legacy
Stretches payments over 25 years for a lower monthly bill, with much more total interest and no forgiveness. Requires more than $30,000 in Direct Loans.
✓ Best for: Legacy borrowers who need the lowest fixed payment
Repayment Assistance Plan (RAP) 🆕
You pay 1% to 10% of your AGI depending on your income, with a $10 monthly minimum and $50 off per month for each dependent. Unpaid interest is waived, and if your payment lowers your principal by less than $50, the government covers the difference. Any remaining balance is forgiven after 360 qualifying payments (30 years). Not available for Parent PLUS loans.
✓ Best for: Lower-income borrowers, PSLF seekers, and new borrowers who want an income-based option
Income-Based Repayment (IBR) ⚠️ Legacy
10% of discretionary income (income above 150% of the poverty guideline), never more than the 10-year Standard payment, with forgiveness after 20 years. This calculator uses the rules for borrowers whose first loan was after July 1, 2014. Earlier borrowers pay 15% with forgiveness after 25 years. Not available for Parent PLUS loans, and lost if you take out new federal loans after July 1, 2026.
✓ Best for: Existing borrowers who are not borrowing again
💰 Income and Household Details
From your most recent tax return
RAP: $50 per month off for each dependent
Used for the IBR poverty guideline
Alaska and Hawaii use higher poverty guidelines
Income-based estimates assume your income and family size stay the same every year. In real life your payment is recalculated each year.
Your Results
Standard 10-Year Plan
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Estimated Monthly Payment
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Total You Pay
$0
Interest You Pay
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Payoff Date
📊 Plan Comparison Charts
Total Cost Comparison
Balance Over Time
Where Your Money Goes
📋 Plans You Qualify For, Side by Side
| Plan | First Monthly Payment | Total You Pay | Interest You Pay | Term | Forgiven |
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📅 Year-by-Year Schedule
| Year | You Pay | Principal Paid | Interest Paid | Remaining Balance |
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⚠️ The 2026 Changes You Need to Know
🚨 Effective July 1, 2026 (One Big Beautiful Bill Act)
Federal loans made on or after July 1, 2026 have only two repayment plans: the new Tiered Standard Plan and the new Repayment Assistance Plan (RAP). Graduated, Extended, PAYE, ICR, and SAVE are not available for these new loans. A court order ended the SAVE plan on March 10, 2026.
📘 If your loans were made BEFORE July 1, 2026
- You keep access to Standard, Graduated, Extended, and IBR
- PAYE and ICR remain only until July 1, 2028
- You can switch to RAP if it suits you (except Parent PLUS)
- ⚠️ Taking out a new federal loan after July 1, 2026 ends access to the legacy plans
- Former SAVE borrowers who did not pick a new plan by the fall 2026 deadline were moved to a standard plan, but can still apply for IBR or RAP
📕 If your loans were made ON or AFTER July 1, 2026
- Only two plans: Tiered Standard or RAP
- No Graduated or Extended plan
- No new Grad PLUS loans
- Parent PLUS: $20,000 per year, $65,000 total per student, Tiered Standard only
- Graduate: $20,500 per year, $100,000 total ($50,000 and $200,000 for professional degrees)
💰 2025-26 vs 2026-27 Interest Rates
| Loan Type | 2025-26 Rate | 2026-27 Rate | Change |
|---|---|---|---|
| Undergrad Subsidized and 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 each loan once it is disbursed. The 2026-27 rates are based on the May 2026 10-year Treasury auction yield of 4.468%.
🔍 Subsidized vs Unsubsidized: What's the Difference?
✅ Subsidized Loan
- The government pays the interest while you are in school at least half-time
- Interest is also covered during the 6-month grace period and deferment
- You must show financial need on the FAFSA
- Undergraduates only · up to $23,000 in total
- Same interest rate as unsubsidized (6.39% for 2025-26, 6.52% for 2026-27)
⚠️ Unsubsidized Loan
- Interest starts building as soon as the loan is disbursed
- Unpaid interest is added to your principal when repayment begins
- Available regardless of financial need
- Undergraduate total limit: $31,000 (dependent) or $57,500 (independent), including subsidized loans
- Graduate: $20,500 per year, $100,000 total for new borrowers ($138,500 under the old rules)
- If you are offered subsidized loans, accept those first
📊 RAP vs IBR: Which Income Plan Is Right for You?
❓ What is RAP (Repayment Assistance Plan)?
RAP is the new income-driven plan that started July 1, 2026. Your yearly payment is 1% of your AGI if you earn $10,001 to $20,000, rising one percentage point for each additional $10,000, up to 10% of AGI above $100,000. Borrowers earning $10,000 or less pay $10 a month. You get $50 a month off for each dependent, and the minimum payment is $10. The government waives any interest your payment does not cover, so your balance does not grow, and it adds up to $50 a month toward principal if your payment reduces it by less than that. Any remaining balance is forgiven after 360 qualifying payments. RAP counts toward PSLF.
❓ What is IBR (Income-Based Repayment)?
IBR is the legacy income-driven plan for loans made before July 1, 2026. It stays available as long as you do not take out new federal loans after that date. Payments are 10% of discretionary income for borrowers whose first loan was after July 1, 2014, or 15% for earlier borrowers, and never more than the 10-year Standard payment. Discretionary income is your AGI minus 150% of the federal poverty guideline for your family size. Forgiveness comes after 20 or 25 years.
❓ RAP vs IBR: which saves more money?
It depends on your income and family size. IBR protects income up to 150% of the poverty guideline, so lower-income borrowers with larger families often pay less under IBR. RAP charges a percentage of all your income, but it waives unpaid interest so your balance does not grow. IBR also forgives sooner, after 20 years instead of 30. Use this calculator to compare both with your own numbers.
❓ What is PSLF (Public Service Loan Forgiveness)?
PSLF forgives your remaining federal loan balance after 120 qualifying payments, about 10 years, while you work full-time for a government or qualifying nonprofit employer. Payments under RAP, IBR, and the 10-year Standard plan count. Tiered Standard payments count only when they are at least as much as a 10-year Standard payment, which in practice usually means balances under $25,000. Amounts forgiven through PSLF are not taxed as income.
❓ What happened to SAVE, PAYE, and ICR?
A federal court order ended SAVE on March 10, 2026. Servicers gave SAVE borrowers a 90-day window starting July 1, 2026 to choose a new plan, and borrowers who did not choose were moved into a standard plan. PAYE and ICR close on July 1, 2028, so borrowers still on them will need to move to IBR or RAP by then.
💡 Tips to Save Money on Student Loans
While In School
- Use subsidized loans before unsubsidized loans
- Paying the interest on unsubsidized loans while in school keeps it from being added to your balance
- Keep private loans to a minimum, since federal loans have stronger protections
- Federal Work-Study earnings are not counted as income on the next FAFSA
- Apply for scholarships every year, not just freshman year
During Repayment
- Even $25 to $50 extra per month can save thousands in interest
- Pay on time every month to avoid late fees and credit damage
- Sign up for autopay with your servicer to get an interest rate discount
- Put extra payments toward your highest-rate loan first
- Refinancing federal loans into a private loan ends federal protections like RAP and PSLF, so think carefully first
⚠️ This calculator is for educational purposes only. Actual payments, interest, and forgiveness timelines depend on your servicer, disbursement dates, income and family size each year, and program eligibility. Income-based estimates assume your income does not change, and forgiven balances outside PSLF may be taxable. Rules reflect federal guidance as of October 2026. Always confirm your options at studentaid.gov. CramBookNotes.com does not provide financial, tax, or legal advice.
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