Finance tool

PAYE Plan Student Loan Calculator

Calculate monthly payments, payment caps, and forgiveness under the federal Pay As You Earn (PAYE) plan.

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About the Pay As You Earn (PAYE) Plan

PAYE caps monthly payments at 10% of discretionary income, capped at the standard 10-year repayment amount, with forgiveness after 20 years.

Frequently Asked Questions

What is the standard payment cap in PAYE?

Payments will never exceed the amount you would pay under the standard 10-year repayment plan calculated at plan entry.

Who qualifies for PAYE?

Borrowers must have had no outstanding student loan balance when taking a Direct Loan on or after Oct 1, 2007, and received a disbursement on or after Oct 1, 2011.

How long until forgiveness on PAYE?

Remaining balances are eligible for forgiveness after 20 years (240 qualifying monthly payments).

Is PAYE eligible for PSLF?

Yes, PAYE is a qualifying repayment plan for Public Service Loan Forgiveness.

How to use

Calculate in three steps

  1. 1
    Enter your valuesUse the fields above and check the units shown beside each input.
  2. 2
    Run the calculationSelect Calculate to refresh the result with your latest values.
  3. 3
    Review or shareCompare the result, reset the form, print it, or share this page.
Inputs

What you need

Annual AGI$
Household SizeValue
Total Eligible Student Debt$
Interest Rate%
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