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SAVE Plan Student Loan Calculator
Estimate student loan payments and monthly interest subsidies under the federal Saving on a Valuable Education (SAVE) plan.
About the SAVE Plan
The SAVE (Saving on a Valuable Education) plan provides an income exemption floor at 225% of the federal poverty guideline and prevents unpaid monthly interest from growing.
Formula
Discretionary Income = AGI - (2.25 × Federal Poverty Line)
- 5% of discretionary income for undergraduate debt
- 10% of discretionary income for graduate debt
- Weighted average for mixed portfolios
Frequently Asked Questions
How does the interest benefit work?
If your monthly payment does not cover accrued interest, the government covers the remaining unpaid interest each month.
What is the income exemption threshold?
The SAVE plan shields income up to 225% of the federal poverty line from repayment calculations.
What is the repayment percentage for undergraduate loans?
Undergraduate loans use 5% of discretionary income, while graduate loans use 10%.
Does SAVE qualify for PSLF?
Yes, all qualifying payments made on the SAVE plan count toward PSLF forgiveness.
How to use
Calculate in three steps
- 1Enter your valuesUse the fields above and check the units shown beside each input.
- 2Run the calculationSelect Calculate to refresh the result with your latest values.
- 3Review or shareCompare the result, reset the form, print it, or share this page.
Inputs
What you need
Annual AGI$
Household SizeValue
Undergraduate Loan Debt$
Graduate Loan Debt$
Average Interest Rate%