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RAP Loan Calculator (Student Loan Repayment Plan Comparison)

Compare RAP (effective July 1, 2026) vs IBR, plus PSLF scenarios. See payments, forgiveness timelines, and total cost.

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Compare Payment Plans: This calculator compares RAP (Repayment Assistance Plan, effective July 1, 2026) with IBR (Income-Based Repayment), plus PSLF scenarios. By 2028 you will either need to pay the full amount each month or move to RAP.

Past Payment History

Account for Past Payments: Enter your payment history to calculate remaining time until forgiveness under each plan. This is especially important for PSLF (Public Service Loan Forgiveness) tracking.
Enter the number of qualifying payments you've already made
Enter the total dollar amount you've paid so far
Select your current repayment plan

PSLF requires 120 qualifying payments (10 years) while working for a qualifying employer. Check this if you're employed by a government organization or qualifying non-profit.

Loan Parameters

AGI Calculator Help: Your AGI is typically your gross salary minus:
  • 401(k) or traditional IRA contributions
  • Health insurance premiums (if pre-tax)
  • HSA/FSA contributions
  • Student loan interest paid (up to $2,500)
For a more accurate AGI, check line 11 of your most recent tax return (Form 1040).

Personal Factors

Old IBR (default): 15% of discretionary income, 25-year forgiveness (for loans before July 1, 2014)
New IBR: 10% of discretionary income, 20-year forgiveness (for loans on/after July 1, 2014)

Plan Comparison Summary

Repayment Plan First Month Payment Total Paid Total Interest Forgiven Amount Tax on Forgiveness Total Cost Years to Forgiveness Add to Budget
Standard (10-year) - - - $0 $0 - 10
Graduated (10-year) - - - $0 $0 - -
Extended Fixed (25-year) - - - $0 $0 - -
Extended Graduated (25-year) - - - $0 $0 - -
RAP (Effective July 1, 2026) - - - - - - -
IBR (Pre-2014) - - - - - - -
IBR (2014) - - - - - - -
ICR (Income-Contingent) - - - - - - -
Important Note: SAVE has been officially discontinued and is no longer available. IBR version can be selected above (Old IBR: 15%, 25 years vs New IBR: 10%, 20 years). RAP includes interest subsidy that waives unpaid interest and principal reduction match that ensures at least $50/month principal reduction. If a plan pays off the balance early, forgiveness and taxes drop to $0 even if the plan’s standard term is longer.

Detailed RAP Analysis

Repayment Rate: 6%

Estimated Monthly Payment (Year 1): $340

Amount Previously Paid: $0

Total Amount Paid: $0

Total Interest Paid: $0

Remaining Balance at Forgiveness: $0

Estimated Tax on Forgiven Amount: $0

Total Government Interest Subsidy (RAP): $0

Total Cost (Payments + Tax): $0

Payments Until Forgiveness: 360

Show in Charts:

Detailed Payment Schedule

Year Income Standard Graduated Ext Fixed Ext Grad RAP RAP Subsidy IBR ICR Std Bal Grad Bal Ext Fix Bal Ext Grad Bal RAP Bal IBR Bal ICR Bal

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Glossary

Standard Repayment Plan
The default federal repayment plan with fixed monthly payments calculated to pay off your loan in 10 years.
RAP (Repayment Assistance Plan)
An income-driven repayment plan effective July 1, 2026, where payments range from 0–10% of AGI based on income brackets.
Graduated Repayment Plan
10-year plan with payments that start lower and increase every two years. No forgiveness.
Extended Fixed Repayment Plan
25-year fixed monthly payments. Requires more than $30,000 in eligible federal loans.
Extended Graduated Repayment Plan
25-year plan with payments that increase over time. Requires more than $30,000 in eligible federal loans.
IBR (Income-Based Repayment)
Federal plan with two versions: Old IBR (15% / 25 years) and New IBR (10% / 20 years).
ICR (Income-Contingent Repayment)
20% of discretionary income (AGI minus 100% poverty guideline), capped at 12-year standard. 25-year forgiveness. Qualifies for PSLF.
PSLF (Public Service Loan Forgiveness)
Forgives federal student loans after 120 qualifying monthly payments while working for a qualifying employer.