Student Loan Pay As You Earn (PAYE) Calculator

Are you wondering how enrolling in the Pay As You Earn (PAYE) federal student loan repayment plan could impact your student loan payments? Use our PAYE Calculator to see how PAYE may be able to lower your monthly payments as well as result in forgiveness of your student loans.

PAYE limits your monthly student loans to 10% of your discretionary income. After 20 years of repayment (240 total payments), borrowers are eligible to have their remaining student loan balance forgiven on qualifying loans.

OriginalPAYESavings
First month's payment
Last month's payment
Total balance paid
Total forgiveness
Repayment term
Your monthly payment on PAYE would be , a difference of from what you are currently paying. If your income increases over time, your payments may increase. Assuming annual income growth of 3.5%, your final monthly payment would be . After making payments for — years, you will have paid a total of and would receive in forgiveness, compared to your current plan where you will pay over the next — years.

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Total balance paid

Total forgiveness

CURRENT

$0

PAYE

$0

$0

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