IBR Calculator FAQs
You can use IBR as short-term relief if you can’t make payments, or pursue it as a long-term strategy to pay off your loans depending on your situation.
Your payments are set at 10 to 15 percent of your income. Student loan forgiveness is available after 20 to 25 years of payments. However, not all borrowers will receive forgiveness, as it is possible that you could pay off your entire balance before 20 to 25 years, depending on your income and loan situation.
In this calculator, we assume that your family size will remain constant throughout your repayment and that your loans are all unsubsidized federal loans.
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Our team at Student Loan Hero works hard to find and recommend products and services that we believe are of high quality and will make a positive impact in your life. We sometimes earn a sales commission or advertising fee when recommending various products and services to you. Similar to when you are being sold any product or service, be sure to read the fine print, understand what you are buying, and consult a licensed professional if you have any concerns. Student Loan Hero is not a lender or investment advisor. We are not involved in the loan approval or investment process, nor do we make credit or investment related decisions. The rates and terms listed on our website are estimates and are subject to change at any time. Please do your homework and let us know if you have any questions or concerns.