Income-Driven Repayment Estimator

Formulas Used

Federal Poverty Level (2024, contiguous US):
FPL = $15,060 + $5,380 × (family_size − 1)

Discretionary Income:
SAVE: max(0, AGI − 2.25 × FPL)
PAYE / IBR New: max(0, AGI − 1.50 × FPL)
IBR Old: max(0, AGI − 1.50 × FPL)
ICR: max(0, AGI − 1.00 × FPL)

Monthly Payment:
SAVE = Discretionary_SAVE × 10% ÷ 12
PAYE = min(Discretionary₁₅₀ × 10% ÷ 12, Standard 10-yr payment)
IBR New = min(Discretionary₁₅₀ × 10% ÷ 12, Standard 10-yr payment)
IBR Old = min(Discretionary₁₅₀ × 15% ÷ 12, Standard 10-yr payment)
ICR = min(Discretionary₁₀₀ × 20% ÷ 12, Standard 12-yr payment)

Standard N-Year Payment:
PMT = P × [r(1+r)ⁿ] / [(1+r)ⁿ − 1]   where r = annual rate ÷ 12, n = months