Student Loan Revised Pay As You Earn (REPAYE) Calculator

Revised Pay As You Earn (REPAYE) is the latest program repayment option be released by the Department of Education. REPAYE now allows some borrowers who were previously ineligible for PAYE to cap their monthly student loan payments at 10% of discretionary income with REPAYE.

REPAYE offers student loan forgiveness after 20 years (240 payments) for borrowers with undergraduate student loans only or 25 years (300 payments) for borrowers who have graduate student loans.

Test out our REPAYE Calculator to see how REPAYE may be able to lower your monthly payments as well as result in forgiveness of your student loans.

First month's payment
Last month's payment
Total balance paid
Total forgiveness
Repayment term
Your monthly payment on REPAYE 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






Revised Pay As You Earn Calculator FAQs

1. What assumptions does the REPAYE Calculator make?

For the REPAYE Calculator to provide an estimate, we must make some assumptions which may or may not be true in every situation. The calculator assumes:

  • Your family size will remain the same during the life of the loan and poverty guidelines will increase based on the Congressional Budget Office’s estimate of inflation.
  • The current interest rate won’t change during the life of the loan (even for loans with variable interest rates).
  • All loans are unsubsidized loans for the purposes of interest accumulation.
  • You meet all eligibility requirements to enroll in REPAYE (see below).

2. Am I eligible for REPAYE?

Income-driven repayment plans are complicated, so we can’t guarantee that receiving a result from this calculator guarantees you’re eligible for REPAYE.

The general eligibility for REPAYE is simple: You must have qualifying loans.

Loan types that are eligible for REPAYE include:

  • Direct Loans (both Subsidized and Unsubsidized)
  • Direct PLUS Loans (made to graduate or professional students only)
  • Direct Consolidation Loans
  • Federal Stafford Loans (both Subsidized and Unsubsidized, eligible if consolidated)
  • FFEL PLUS Loans (made to graduate or professional students only, eligible if consolidated)
  • FFEL Consolidation Loans (eligible if consolidated and only if does not contain parent loans)
  • Federal Perkins Loans (eligible if consolidated)

Loan types that are generally ineligible for REPAYE are:

  • Parent PLUS Loans
  • FFEL PLUS Loans made to parents
  • Direct Consolidation Loans that repaid a Parent PLUS Loan

3. Is student loan forgiveness through REPAYE taxable?

Yes. According to the IRS, student loan forgiveness received through REPAYE is generally considered taxable income.

4. How do I know if REPAYE is the right option for me?

Choosing a repayment option can be difficult, especially when your financial situation may change over the course of 20 to 25 years. To decide which income-driven repayment plan is best for you, we generally recommend testing out each program and finding the one that estimates the lowest total amount paid over the entire repayment period.

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