Income-Based Repayment (IBR) Student Loan Calculator

Our Income-Based Repayment (IBR) calculator will show you how much you'll pay towards your student loans under this federal repayment plan. Income-Based Repayment (IBR) is available to federal student loan borrowers and helps make your monthly student loan payments more manageable. When applying for IBR, the government looks at your income, family size, and state of residence to calculate your monthly payments. Plug in some numbers and see how much you can save under IBR.

Personal Info
Adjusted Gross Income
Family size
State of residence
Annual Income Growth
Loan info
Were any of your federal student loans disbursed before July, 2014?
Total federal student loan balance
Current monthly payment
Avg. weighted interest rate

Is this federal program right for you?

Use our Income-Based Repayment (IBR) Calculator and see if you can save.

Fun Fact: (IBR) is one of four Income-Driven Repayment Plans offered by the government.

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Variable Interest Rates

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Fixed Interest Rates

3.20% - 7.25%

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Max Term Loan

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20 Years

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*Rates are shown with 0.25% AutoPay discount.

What is the Income-Based Repayment (IBR) calculator?

Our student loan Income-Based Repayment (IBR) calculator helps you understand how much money you’ll pay under the IBR plan offered under the government’s Income-Driven repayment (IDR) payment plan. Our income-based repayment calculator shows you what your monthly payment and total payment will be under the Standard Repayment Plan and Student loan Income-Based Repayment. With this calculator, you can also see how much student loan forgiveness you will receive under the student loan income-based repayment (IBR) plan.

Who is eligible for Income-Based Repayment (IBR)?

Usually anyone with qualifying federal loans (listed below) and those who also meets income requirements are eligible for one form of IBR. Check out the two variations of IBR:

Model #1: The “Old” IBR – (for new borrowers before July 1, 2014)

  • Your payments are limited to 15% of discretionary income (it will never be more than the 10-year Standard payment amount).
  • Forgiveness after 25 years of payments 

Model #2: The “New” IBR – (for new borrowers on or after July 1, 2014)

  • Limits your payments to 10% of discretionary income (and never more than the 10-year Standard payment amount)
  • Forgiveness after 20 years of payments

Our Income-Based Repayment student loan calculator will use the date when you first received federal student loans to use the correct IBR version. Also, keep in mind that DollarGeek’s IBR student loan calculator doesn’t guarantee that you’ll automatically qualify for the IBR program.

Loan types that are eligible for IBR include:

  • Direct Consolidation Loans
  • Direct Loans (both Subsidized and Unsubsidized)
  • Direct PLUS Loans (made to graduate or professional students only)
  • Federal Stafford Loans (both Subsidized and Unsubsidized, eligible if consolidated)
  • FFEL PLUS Loans (made to graduate or professional students only, eligible if consolidated)
  • FFEL Consolidation Loans (eligible if consolidated and only if does not contain parent loans)
  • Federal Perkins Loans (eligible if consolidated)

Can I enroll in Income-Based Repayment (IBR) if I have Parent PLUS loans?

No. The only Income-Driven repayment (IDR) plan you can enroll in with a Parent PLUS loan is Income-Contingent Repayment (ICR).

What student loan types aren't eligible for Income-Based Repayment (IBR)?

  • Private student loans
  • Parent PLUS Loans
  • FFEL PLUS Loans borrowed by parents
  • Direct Consolidation Loans used to repay a Parent PLUS Loan

Besides Income-Based Repayment (IBR), what are my other Income-Driven repayment options?

Is student loan forgiveness through Income-Based Repayment taxable?

Yep. Since Income-Based Repayment is a federal student loan repayment plan, any student loan forgiveness received under the plan is taxable. 

What considerations does the Income-Based Repayment (IBR) calculator make?

For us to give you the best estimate for IBR, we had to use a few common assumptions. These assumptions may or may not be true in your case, but please look them over. The calculator assumes the following:

  • All loans are unsubsidized loans for the purposes of interest accumulation.
  • Your family size will remain the same during the life of the loan.
  • Poverty guidelines will increase based on the Congressional Budget Office’s estimate of inflation.
  • All loans are unsubsidized loans for the purposes of interest accumulation.
  • The current interest rate won’t change during the life of the loan (even variable interest rate loans).
  • You meet all eligibility requirements to enroll in IBR.

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