Last updated: March 2026
Comparing Student Loan Repayment Plans
Choosing the right repayment plan is one of the most impactful financial decisions after graduation. The difference between plans can be tens of thousands of dollars in total interest. This calculator compares all four major repayment options so you can make an informed choice.
The Standard plan has the highest monthly payment but the lowest total cost. The Extended plan cuts your monthly payment significantly but can double or triple your total interest. Income-Driven plans offer the lowest payments but the longest timeline, with forgiveness after 20 years.
Use the comparison table above to see exact numbers for your loan balance and interest rate. Click any row to see detailed amortization for that plan.
When to Consider Each Plan
Standard: Best for borrowers who can afford the higher payment. You save the most money and become debt-free in 10 years. If you can add extra payments on top, even better.
Graduated: Good for those starting with lower income but expecting steady raises. Payments begin at about 60% of the standard amount and increase every two years.
Extended: Useful when you need a lower monthly payment and have a balance over $30,000. But be aware: the total cost increases dramatically over 25 years.
Income-Driven: Essential for borrowers whose standard payment would cause financial hardship. Also strategic for those pursuing Public Service Loan Forgiveness (PSLF) after 10 years of qualifying employment.
This calculator provides estimates for educational purposes only. Actual repayment terms depend on your specific loan program and servicer. Income-driven calculations are simplified estimates. Visit StudentAid.gov for official plan details.
Frequently Asked Questions
What are the different student loan repayment plans?
There are four main categories: Standard (10-year fixed payments), Graduated (payments start low and increase every 2 years), Extended (25-year fixed payments), and Income-Driven (payments based on income with 20-year forgiveness). Each has different tradeoffs between monthly payment and total cost.
How do I choose the right repayment plan?
Consider your current income, expected income growth, and total loan balance. If you can afford it, the Standard plan saves the most money. If payments are too high, Income-Driven plans offer relief. Graduated plans work for those expecting significant income growth. Use the comparison table to see exact numbers.
Can I switch repayment plans?
Yes, you can switch federal student loan repayment plans at any time by contacting your loan servicer. There is no fee to switch. However, switching to a longer plan means more total interest. Any unpaid interest may capitalize (add to principal) when you switch.
What is discretionary income for IDR plans?
Discretionary income is the difference between your adjusted gross income and 150% of the federal poverty guideline for your family size and state. Income-driven payments are calculated as 10% of this amount, divided by 12 for a monthly payment.
Is the Standard plan always the cheapest?
In terms of total interest paid, yes — the Standard 10-year plan always costs the least because you pay off the principal fastest. However, if you qualify for Public Service Loan Forgiveness (PSLF), an Income-Driven plan combined with 10 years of public service can result in significant forgiveness.