Student Loan Repayment Calculator: Compare RAP, IBR, and PSLF Options

Information checked: 2026-09-09 · Maintenance label: Event-driven

Federal student loan repayment changed substantially in 2026, and a student loan repayment calculator built on the old plan landscape will give you the wrong answer.

The SAVE plan ended by court order on 10 March 2026. A new plan, the Repayment Assistance Plan, became available on 1 July 2026. Borrowers who were on SAVE were notified between 1 July and 15 August 2026 and given 90 days to select an alternative.

If you were on SAVE and have not chosen yet, that window is the most time-sensitive thing on this page. This guide sets out how RAP calculates a payment, how it compares with IBR, and what it means for public service forgiveness.

Key takeaway

RAP payments are a percentage of adjusted gross income rising from 1% to 10% across income bands, divided by twelve, reduced by $50 per dependent, with a $10 monthly minimum. Unpaid interest is subsidised, forgiveness comes at 30 years, and RAP payments count toward Public Service Loan Forgiveness at 10 years. IBR remains available and no longer requires a partial financial hardship for the affected loan cohort.

Table of contents

• What changed, and when
• How a RAP payment is calculated
• Interest and forgiveness
• Eligibility, and who is excluded
• Comparing your options properly
• Frequently asked questions
• Summary

What changed, and when

Date	What happened
10 March 2026	The SAVE plan ended by court order
1 July 2026	The Repayment Assistance Plan became available to apply for at StudentAid.gov
1 July to 15 August 2026	SAVE borrowers were notified, with 90 days to select an alternative plan

The One Big Beautiful Bill Act also removed the partial financial hardship requirement for entering Income-Based Repayment, effective on enactment, expanding access to IBR for borrowers with loans made between 1 July 2014 and 1 July 2026.

Run your own numbersFederal Student Aid ›Apply for a repayment plan and use the official loan simulator with your actual loan balances instead of a generic calculator.

How a RAP payment is calculated

RAP uses your adjusted gross income against a band table. The annual figure is divided by twelve, then reduced by $50 for each dependent claimed on your tax return, with a minimum payment of $10 per month.

Adjusted gross income	Annual amount
$10,000 or less	$120
$10,001 to $20,000	1% of AGI
$20,001 to $30,000	2% of AGI
$30,001 to $40,000	3% of AGI
$40,001 to $50,000	4% of AGI
$50,001 to $60,000	5% of AGI
$60,001 to $70,000	6% of AGI
$70,001 to $80,000	7% of AGI
$80,001 to $90,000	8% of AGI
$90,001 to $100,000	9% of AGI
Over $100,000	10% of AGI

Worked example of the mechanics, not of your own case: an adjusted gross income of $45,000 falls in the 4% band, giving $1,800 for the year, or $150 a month before any dependent reduction. Two dependents would reduce that by $100, to $50 a month.

Interest and forgiveness

If your monthly payment is less than the interest accruing that month, the interest left unpaid after the payment is subsidised. That addresses the balance-growth problem that made older plans frustrating for low-income borrowers.

Outstanding balances are forgiven after 30 years of qualifying payments. Borrowers eligible for Public Service Loan Forgiveness can reach forgiveness after 10 years, and payments made under RAP count toward that forgiveness if all other eligibility criteria are met.

Eligibility, and who is excluded

RAP is available to Direct Loan borrowers. Eligible loans include Direct Subsidized and Unsubsidized loans, Direct PLUS loans for graduate students, and Direct Consolidation loans that do not include a Parent PLUS loan.

That last exclusion is the one to check first if you consolidated. A consolidation loan containing a Parent PLUS loan is outside RAP, which changes the comparison entirely for those borrowers.

Comparing your options properly

1. Confirm your loan types at StudentAid.gov, since eligibility turns on them.
2. If you were on SAVE, check whether your 90-day selection window has passed and act on it.
3. Run your actual balances through the official loan simulator rather than a generic calculator.
4. If you work in public service, weigh the 10-year PSLF horizon against the plan that minimises the monthly payment, since the lowest payment is often the better choice when forgiveness is the goal.
5. Recheck after any significant income change, since the band structure means a modest income change can move your payment.

For a borrower not pursuing PSLF, the comparison is between monthly affordability now and total interest paid over up to 30 years. Those two goals frequently point at different plans.

Run your own numbersFederal Student Aid ›Apply for a repayment plan and use the official loan simulator with your actual loan balances instead of a generic calculator.

Frequently asked questions

What replaced SAVE?

SAVE ended by court order on 10 March 2026. The Repayment Assistance Plan became available on 1 July 2026, and IBR remains available.

What is the minimum RAP payment?

$10 per month, after the band calculation and the $50 per dependent reduction.

Does RAP count toward PSLF?

Yes. Payments made under RAP count toward Public Service Loan Forgiveness if all other eligibility criteria are met.

Are Parent PLUS loans eligible?

A Direct Consolidation loan that includes a Parent PLUS loan is not eligible for RAP. Check your loan composition before assuming.

Do I still need a partial financial hardship for IBR?

The requirement was removed on enactment of the One Big Beautiful Bill Act, expanding IBR access for borrowers with loans made between 1 July 2014 and 1 July 2026.

Summary

If you were on SAVE, the selection deadline is the urgent item. Everything else can be optimised later; a missed window cannot.

RAP is a straightforward income-band calculation with an interest subsidy, 30-year forgiveness and PSLF credit at 10 years. Confirm your loan types first, because a consolidation containing a Parent PLUS loan falls outside it.