Repaye Calculator

Student loan repayment can feel overwhelming, especially when trying to choose the right repayment plan. One of the most popular options for federal student loan borrowers is the Revised Pay As You Earn (REPAYE) plan. To make it easier, we’ve built a free REPAYE Calculator that helps you estimate your monthly and annual loan payments in just a few clicks.

REPAYE Calculator

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What is REPAYE?

The Revised Pay As You Earn (REPAYE) plan is an income-driven repayment (IDR) plan for federal student loans. Instead of paying a fixed amount, your payments are based on your income and family size. REPAYE generally requires you to pay 10% of your discretionary income, which can significantly reduce monthly payments for borrowers with lower or moderate incomes.

The plan also includes potential loan forgiveness after 20 or 25 years of qualifying payments, depending on the type of loan you have.

Why Use a REPAYE Calculator?

Calculating REPAYE payments manually can be complicated because it involves poverty guidelines, family size, and discretionary income formulas. That’s why this REPAYE Calculator tool is so helpful.

By entering your income, family size, and loan balance, the calculator instantly estimates:

  • Your monthly REPAYE payment
  • Your annual REPAYE payment

This gives you a clear picture of how much you’ll need to pay under the plan, making it easier to budget and compare repayment options.

How the REPAYE Calculator Works

Our calculator is designed to be user-friendly and accurate. Here’s the breakdown of how it works under the hood:

  1. Input your details
    • Annual Income – Your total yearly income before taxes.
    • Family Size – The number of people in your household.
    • Loan Balance – Your total outstanding student loan debt.
  2. Poverty guideline adjustment
    • The calculator estimates the poverty guideline based on family size.
    • Example: $20,000 for a single person, plus $5,000 for each additional family member.
  3. Discretionary income calculation
    • Discretionary income = Income – (150% of the poverty guideline).
  4. Payment calculation
    • Annual payment = 10% of discretionary income.
    • Monthly payment = Annual payment ÷ 12.
  5. Results displayed instantly
    • Monthly payment estimate.
    • Annual payment estimate.

How to Use the REPAYE Calculator (Step-by-Step)

  1. Enter your annual income – Example: $50,000.
  2. Enter your family size – Example: 3 people.
  3. Enter your loan balance – Example: $30,000.
  4. Click “Calculate.”
  5. Instantly see your monthly and annual REPAYE payment estimates.
  6. Use the “Reset” button to clear values and start again.

Example Calculation

Let’s walk through an example using the calculator:

  • Income: $60,000
  • Family Size: 4
  • Loan Balance: $40,000

Step 1 – Poverty guideline
$20,000 + (3 × $5,000) = $35,000

Step 2 – 150% of poverty guideline
$35,000 × 1.5 = $52,500

Step 3 – Discretionary income
$60,000 – $52,500 = $7,500

Step 4 – Payment calculation
Annual Payment = 10% of $7,500 = $750
Monthly Payment = $750 ÷ 12 = $62.50

👉 In this example, the borrower would pay $62.50 per month under REPAYE.

Benefits of Using This REPAYE Calculator

  • Instant results – No manual math needed.
  • Budget planning – See exactly what your student loan payments will be.
  • Compare repayment options – Helps you decide if REPAYE is right for you.
  • Free & easy – No sign-up required.

Things to Keep in Mind

  • This calculator provides estimates only and may not reflect your exact repayment schedule.
  • Poverty guidelines can vary depending on your location and year.
  • Actual payments are determined by the U.S. Department of Education.
  • Loan forgiveness eligibility depends on meeting program requirements.

Frequently Asked Questions (FAQs) About REPAYE

1. What does REPAYE stand for?
Revised Pay As You Earn. It’s an income-driven repayment plan for federal student loans.

2. How does REPAYE differ from PAYE?
PAYE caps payments at 10% of discretionary income but has stricter eligibility. REPAYE is open to more borrowers.

3. Who qualifies for REPAYE?
Any borrower with eligible federal Direct Loans can apply.

4. Does REPAYE include loan forgiveness?
Yes, after 20 years (undergraduate loans) or 25 years (graduate loans).

5. How does family size affect payments?
Larger families increase the poverty guideline, which lowers discretionary income and payments.

6. What income is used for REPAYE?
Your adjusted gross income (AGI) from your federal tax return.

7. Are married couples’ incomes combined?
Yes, under REPAYE, spousal income is included regardless of filing status.

8. Can I switch from REPAYE to another plan?
Yes, you can switch repayment plans, but interest capitalization may occur.

9. Is REPAYE better than standard repayment?
It depends. REPAYE often lowers monthly payments but may extend repayment time.

10. Does REPAYE cover Parent PLUS loans?
No, Parent PLUS loans are not eligible.

11. How often do payments change under REPAYE?
Payments are recalculated annually based on income and family size.

12. Can REPAYE payments be $0?
Yes, if your income is low enough compared to your family size.

13. Does REPAYE have an interest subsidy?
Yes, REPAYE covers part of unpaid interest on subsidized and unsubsidized loans.

14. What happens if my income increases?
Your payment amount will increase at the next annual recertification.

15. Can I leave REPAYE anytime?
Yes, but you may lose benefits such as interest subsidies.

16. Does REPAYE affect credit scores?
No, being on REPAYE doesn’t hurt your credit, but missed payments will.

17. Is there a maximum payment under REPAYE?
No, payments are based solely on income, not capped at the 10-year Standard Plan like PAYE.

18. How do I apply for REPAYE?
Apply through the Federal Student Aid website with your income details.

19. Can REPAYE help me qualify for PSLF?
Yes, REPAYE payments count toward Public Service Loan Forgiveness.

20. Is this REPAYE Calculator accurate for all borrowers?
It provides reliable estimates, but actual payments depend on federal poverty guidelines and official loan servicer calculations.

Final Thoughts

Managing student loan debt doesn’t have to feel confusing. The REPAYE Calculator is a simple tool that provides clear payment estimates based on your income, family size, and loan balance. By using it, you can plan ahead, compare repayment strategies, and make informed decisions about your student loans.