Revised Pay As You Earn (REPAYE) Calculator

This Revised Pay As You Earn (REPAYE) calculator shows you your new monthly student loan payment and how much student loan forgiveness you can get when you enroll in REPAYE student loan repayment.
Step 1: Enter Current Loan Info

Student Loan Balance

Average Interest Rate 

Current Monthly repayment 

Graduate School Loans 
Step 2:  Enter Income Info

Adjusted Gross Income

Family Size

State of Residence

Annual income growth
MONTHLY PAYMENT
$112
View Details
MONTHLY SAVINGS
Current Payment: $333
REPAYE Payment: $222
Savings: $222
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STUDENT LOAN FORGIVENESS
$21,124
If you refinance $30,000 of student loans at a 3.25% interest rate with a 10-year repayment term, you can save $4,789 over the life of your loan.

Top Picks For Student Loan Refinancing

December 2024

Fixed APR ?APR, or Annual Percentage Rate, is the price you pay to borrow money. Fixed APR means that your interest rate will always stay the same. Even if interest rates change, your interest rate or monthly payment will not. Fixed APR includes a 0.25% discount when you enroll in autopay.
Variable APR ?APR, or Annual Percentage Rate, is the price you pay to borrow money. Variable APR means that your interest rate can fluctuate over time, which can increase or decrease your monthly student loan payment. Typically, a variable-rate loan has a lower introductory rate than a fixed-loan rate loan. Variable APR includes a 0.25% discount when you enroll in autopay.
APR
4.49% - 9.99%
5.99% - 9.99%
4.49% - 9.99%

View Details

on SoFi's website

Overview

Variable APR:
5.99% - 9.99%
Fixed APR:
4.49% - 9.99%
Minimum Credit Score:
650
Minimum Income:
None
Fees:
None
Minimum Loan Amount:
$5,000 ($10,000 in CA)

Details

Eligible Loans:
Private & Federal
Eligible Degrees:
Undergraduate & Graduate
Loan Terms:
5, 7, 10, 15, 20 years
Borrower Residency:
All states
Hardship Deferment:
Yes
Co-signer Option:
Yes
3.95% - 9.74%
5.89% - 9.74%
3.95% - 9.74%

View Details

on Earnest's website

Overview

Variable APR:
5.89% - 9.74%
Fixed APR:
3.95% - 9.74%
Minimum Credit Score:
650
Minimum Income:
None
Fees:
None
Minimum Loan Amount:
$5,000

Details

Eligible Loans:
Private & Federal
Eligible Degrees:
Undergraduate & Graduate
Loan Terms:
5-20 years
Borrower Residency:
All States except NV
Hardship Deferment:
Yes
Co-signer Option:
No
5.19% - 9.74%
5.99% - 9.74%
5.19% - 9.74%

View Details

on NaviRefi's website

Overview

Variable APR:
5.99% - 9.74%
Fixed APR:
5.19% - 9.74%
Minimum Credit Score:
680
Minimum Income:
None
Fees:
None
Minimum Loan Amount:
$5,001 ($10,001 in CA)

Details

Eligible Loans:
Private & Federal
Eligible Degrees:
Undergraduate & Graduate
Loan Terms:
5-20 years
Borrower Residency:
All States except NV
Hardship Deferment:
Yes
Co-signer Option:
No
4.88% - 8.44%
4.86% - 8.49%
4.86% - 8.49%

View Details

on ELFI's website

Overview

Variable APR:
4.86% - 8.49%
Fixed APR:
4.88% - 8.44%
Minimum Credit Score:
680
Minimum Income:
$35,000
Fees:
None
Minimum Loan Amount:
$10,000

Details

Eligible Loans:
Private & Federal
Eligible Degrees:
Undergraduate & Graduate
Loan Terms:
5, 7, 10, 15, 20 years
Borrower Residency:
All States
Hardship Deferment:
Yes
Co-signer Option:
Yes
4.84% - 9.99%
5.89% - 9.99%
4.84% - 9.99%

View Details

on Splash's website

Overview

Variable APR:
5.89% - 9.99%
Fixed APR:
4.84% - 9.99%
Minimum Credit Score:
640
Minimum Income:
None
Fees:
None
Minimum Loan Amount:
$5,000

Details

Eligible Loans:
Private & Federal
Eligible Degrees:
Undergraduate & Graduate
Loan Terms:
5 – 20 years
Borrower Residency:
All states
Hardship Deferment:
Varies
Co-signer Option:
No
5.89% - 10.98%
7.02% - 12.44%
5.89% - 12.44%

View Details

on Citizens' website

Overview

Variable APR:
7.02% - 12.44%
Fixed APR:
5.89% - 10.98%
Minimum Credit Score:
Not disclosed
Minimum Income:
$24,000
Fees:
No prepayment or origination fees
Minimum Loan Amount:
$10,000

Details

Eligible Loans:
Private & Federal
Eligible Degrees:
Undergraduate & Graduate
Loan Terms:
5, 7, 10, 15, 20 years
Borrower Residency:
All states
Hardship Deferment:
Yes
Co-signer Option:
Yes
4.99% - 8.90%
5.29% - 9.20%
4.99% - 9.20%

View Details

on Laurel Road's website

Overview

Variable APR:
5.29% - 9.20%
Fixed APR:
4.99% - 8.90%
Minimum Credit Score:
680
Minimum Income:
None
Fees:
None
Minimum Loan Amount:
$5,000

Details

Eligible Loans:
Private & Federal
Eligible Degrees:
Undergraduate & Graduate
Loan Terms:
5, 7, 10, 15, 20 years
Borrower Residency:
All States
Hardship Deferment:
Yes
Co-signer Option:
Yes
5.49% - 9.75%
5.53% - 12.18%
5.49% - 12.18%

View Details

on LendKey's website

Overview

Variable APR:
5.53% - 12.18%
Fixed APR:
5.49% - 9.75%
Minimum Credit Score:
680
Minimum Income:
$24,000
Fees:
None
Minimum Loan Amount:
$5,000

Details

Eligible Loans:
Private & Federal
Eligible Degrees:
Undergraduate & Graduate
Loan Terms:
5, 7, 10, 15, 20 years
Borrower Residency:
All states, except ME, ND, NV, RI, WV
Hardship Deferment:
Yes
Co-signer Option:
Yes

Popular Questions

How does this revised pay as you earn calculator work?

This revised pay as you earn calculator for student loans is easy to use. Here’s how it works:

Step 1. Enter your student loan balance and average interest rate in the student loan revised pay as you earn calculator. If you have multiple student loans, you can use this weighted average interest rate calculator to calculate the weighted average of your interest rates
Step 2. Next, answer whether you have graduate student loans.
Step 3. Next, you have to enter some financial information to determine which federal student loan repayments programs you qualify for.
Step 4. In this student loan revised pay as you earn calculator, enter your adjusted gross income, your family size, state of residence and assumed annual income growth. This student loan revised pay as you earn calculator assumes a 3% annual income growth.
Step 5. You’re all done
This revised pay as you earn repayment calculator will automatically calculate how much student loan forgiveness you could receive under REPAYE.
What is the revised pay as you earn repayment plan?

This student loan revised pay as you earn calculator (REPAYE) can show you how much you will pay each month for your student loans, and then how much student loan forgiveness you will receive. Our revised pay as you earn student loan calculator can show you the impact of lowering your payments as well.

As this revised pay as you earn calculator shows, your student loan payment is limited to 10% of your discretionary income. After you make 25 years of payments, you are eligible to have your qualifying federal graduate student loans forgiven.

Am I eligible for REPAYE?

There are some important requirements for revised pay as you earn repayment, so it’s important to make sure that you meet them. Importantly, this student loan revised pay as you earn calculator doesn’t guarantee that you automatically qualify for REPAYE.

There are several types of student loans that qualify for REPAYE. Remember, only federal student loans are eligible.

  • Subsidized Direct Loans
  • Unsubsidized Direct Loans
  • Direct PLUS Loans (but only for graduate or professional students)
  • Direct Consolidation Loans
  • Federal Stafford Loans
  • FFEL PLUS Loans (but only for graduate or professional students)
  • FFEL Direct Consolidation Loans
  • Federal Perkins Loans (if consolidated)

These loan types are not eligible for REPAYE:

  • Private student loans
  • Parent PLUS Loans
  • FFEL PLUS Loans borrowed by parents
  • Direct Consolidation Loans used to repay a Parent PLUS Loan
Is REPAYE the best student loan repayment option for me?
This revised pay as you earn student loan calculator can help show you whether REPAYE is the best student loan option for you. However, this REPAYE calculator is only one consideration. You can also learn more about student loan repayment and student loan forgiveness.
There are other types of student loan repayment programs such as IBR, ICR and REREPAYE to consider. You also can consider student loan refinancing and can check the latest student loan refinancing rates to get a lower interest rate than you currently have to pay off your student loans faster.
Are student loans forgiven after 25 years?
There is no such thing as automatic student loan forgiveness after 25 years, or at any time. To qualify for any student loan forgiveness, you must enroll in a federal student loan repayment plan or in a student loan forgiveness program such as Public Service Loan Forgiveness.

As this student loan revised pay as you earn calculator shows, you can receive student loan forgiveness under REPAYE for your federal student loans. Under REPAYE, your federal graduate student loans can be forgiven after 25 years.

Is student loan forgiveness under REPAYE taxable?

Yes, since revised pay as you earn is a federal student loan repayment plan, any student loan forgiveness received under the plan is taxable. This is different from public service loan forgiveness, which is not taxable.

There is a federal student loan interest subsidy to help you with student loan interest while you’re enrolled in REPAYE. If your monthly payment is too low in REPAYE, the excess interest on subsidized student loans will be paid for three years by the U.S. Department of Education. After those three years, the U.S. Department of Education will pay up to 50% of unpaid student loan interest.

The federal government covers 50% of accrued interest on unsubsidized student loans.

However, if you no longer are enrolled in the revised pay as you earn student loan repayment plan, the interest will capitalize and be added to your student loan balance.

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