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RAP Loan Calculator (Student Loan Repayment Plan Comparison)

Compare RAP (effective July 1, 2026) vs IBR and SAVE, 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) and SAVE (Saving on a Valuable Education). Older payment methods are only included for historical reference; by 2028 you will either need to pay the full amount each month or move to RAP.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
RAP (Effective July 1, 2026) - - - - - - -
IBR (Pre-2014) - - - - - - -
IBR (2014) - - - - - - -
SAVE - - - - - - -
Important Note: SAVE plan is dead and only here for historical reference. 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 Cost (Payments + Tax): $0

Payments Until Forgiveness: 360

Show in Charts:

Detailed Payment Schedule

Year Adjusted Income Standard RAP Payment IBR Payment SAVE Payment Standard Balance RAP Balance IBR Balance SAVE Balance

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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.
IBR (Income-Based Repayment)
Federal plan with two versions: Old IBR (15% / 25 years) and New IBR (10% / 20 years).
SAVE (Saving on a Valuable Education)
Newest federal plan with 5% of discretionary income for undergraduate loans (10% for graduate).
PSLF (Public Service Loan Forgiveness)
Forgives federal student loans after 120 qualifying monthly payments while working for a qualifying employer.