Student Loan Calculator US · 2026-27
Plan · Afford · Repay · Visualize — updated for the new RAP plan & 2026-27 federal rates
Click any — we’ll guide you to the right tools & 2026-27 policy advice.
Your Loan Snapshot
Based on standard repayment
Rule of thumb: keep payments ≤10% of gross income. RAP payments are based on a percentage of your AGI (1-10%), not discretionary income — see the recommender below for your estimate.
Payment is a percentage of your AGI (1-10%), minus $50/month per dependent, with a $10 minimum.
Drag slider → see interest saved & new payoff
📚 Avg Debt by Major (est.)
| Major | Avg Debt |
|---|---|
| Engineering | $33,800 |
| Business | $30,500 |
| Arts | $39,400 |
| Education | $28,200 |
🗺️ State Avg Debt (est.)
| State | Avg |
|---|---|
| California | $38,900 |
| Texas | $34,100 |
| New York | $40,200 |
| Florida | $32,700 |
⏱️ How long to pay off $X at 6.52% (10yr standard)
| Loan | Monthly | Total Interest |
|---|---|---|
| $10k | $114 | $3,660 |
| $30k | $341 | $10,970 |
| $50k | $569 | $18,290 |
📌 2026-27 federal rates: Undergrad Direct 6.52%, Grad Unsubsidized 8.07%, PLUS 9.07%. Grad PLUS loans ended July 1, 2026; Parent PLUS is now capped at $20,000/yr per child ($65,000 lifetime).
Shivam builds and maintains the financial calculators on Sitnit.com, tracking federal rate and policy updates so the tools stay accurate each year.
Federal student loan repayment changed more in the past year than in the previous decade. The SAVE plan is gone, a new Repayment Assistance Plan (RAP) has taken its place, and interest rates just went up for the 2026-27 academic year. This student loan calculator USA guide walks through the current numbers so you can plan a payoff strategy that reflects the rules in effect today, not the ones from last year.
2026-27 Federal Student Loan Interest Rates
Federal loan rates are set every May from the 10-year Treasury Note auction and stay fixed for the life of the loan. Rates rose slightly for loans first disbursed between July 1, 2026 and June 30, 2027.
| Loan Type | 2025-26 Rate | 2026-27 Rate (current) |
|---|---|---|
| Direct Subsidized / Unsubsidized (Undergraduate) | 6.39% | 6.52% |
| Direct Unsubsidized (Graduate / Professional) | 7.94% | 8.07% |
| Direct PLUS (Parent & Grad) | 8.94% | 9.07% |
These rates apply only to new loans disbursed on or after July 1, 2026 — they don’t change the rate on anything you already borrowed. A student loan payment calculator USA needs the correct rate for your specific loan to give an accurate monthly figure.
How Much Student Loan Can You Afford Based on Your Salary?
A common guideline is to keep your total monthly student loan payment under 10-15% of your gross monthly income. Run a few scenarios through an education loan calculator USA before you commit to an amount.
| Annual Salary | Max Affordable Monthly Payment (10% rule) | Estimated Loan Amount (10yr, 6.52%) |
|---|---|---|
| $40,000 | $333 | ~$28,700 |
| $60,000 | $500 | ~$43,100 |
| $80,000 | $667 | ~$57,500 |
| $100,000 | $833 | ~$71,800 |
Not sure what your real take-home pay looks like? Our income tax calculator can fill in that gap.
Federal vs Private Student Loans
| Feature | Federal Loans | Private Loans |
|---|---|---|
| Interest Rates | Fixed, set annually by Congress (6.52%-9.07% for 2026-27) | Variable or fixed, based on credit |
| Credit Check | None for most (PLUS excludes adverse credit history) | Hard credit pull, often needs a cosigner |
| Repayment Flexibility | RAP, IBR, deferment, forbearance | Limited, varies by lender |
| Loan Forgiveness | PSLF, Teacher Loan Forgiveness, IDR forgiveness | None |
| Grace Period | 6 months after graduation | Varies by lender |
| Death/Disability Discharge | Yes | Rarely; often becomes estate debt |
Student Loan Payoff Calculator: Standard vs. Extra Payments
A student loan payoff calculator shows what extra principal payments actually buy you: fewer years in repayment and less interest paid overall.
| Balance | Rate | Standard 10-yr Payment | Payoff Time with +$100/mo | Interest Saved |
|---|---|---|---|---|
| $25,000 | 6.52% | $283 | 8.1 years | ~$1,900 |
| $50,000 | 6.52% | $566 | 7.7 years | ~$4,600 |
| $80,000 | 8.07% | $970 | 7.9 years | ~$8,300 |
If you’re comparing that debt against other goals, our net worth growth calculator can show the tradeoff between paying down debt faster and investing the difference.
Should You Refinance Your Student Loans?
Refinancing replaces your federal or private loans with a new private loan, usually at a lower rate — but federal loans lose their federal protections in the process.
Good candidate for refinancing:
- Stable income, strong credit, and a low debt-to-income ratio.
- You won’t need income-driven repayment or PSLF.
- You want one payment and a lower rate than your current federal rate.
Skip refinancing if:
- You work in public service or might pursue PSLF.
- Your income is unpredictable — RAP and IBR offer payment protection that private lenders don’t.
- You have older federal loans at a lower fixed rate than current market offers.
Student Loan Repayment Plans After the SAVE Plan Ended
The SAVE plan was struck down by a March 2026 court order and is no longer available. PAYE and ICR stopped accepting new enrollees on July 1, 2026 and are being phased out by mid-2028. Here’s what replaced them:
- Repayment Assistance Plan (RAP): The new default income-driven plan for all federal Direct Loan borrowers (Parent PLUS loans are excluded). Payment is a percentage of your Adjusted Gross Income (AGI), from 1% up to 10% as income rises, with a $10/month minimum and a $50/month reduction per dependent. Forgiveness applies after 360 qualifying payments (30 years).
- Tiered Standard Repayment Plan: A fixed, non-income-driven payment over 10 to 25 years, with the term set by your total balance. No forgiveness, no recertification — just a set schedule.
- IBR (Income-Based Repayment): The one legacy income-driven plan still open to new and existing borrowers. Payments run 10-15% of discretionary income depending on when you first borrowed, with forgiveness after 20-25 years.
Example: A borrower earning $65,000 AGI with one dependent falls in the 6% bracket: $65,000 × 6% = $3,900/year, or $325/month, minus the $50 dependent reduction — a final RAP payment of $275/month.
If your loan servicer already sent a SAVE-transition notice, you generally have 90 days from that notice to choose RAP, IBR, or the Tiered Standard Plan before being auto-enrolled.
PSLF Under the New Rules
Public Service Loan Forgiveness itself wasn’t changed by the OBBBA — it still forgives remaining federal debt after 120 qualifying monthly payments while working full-time for a qualifying government or 501(c)(3) employer. What changed is which repayment plans count:
- RAP payments count toward PSLF, and that credit carries over if you later switch to IBR.
- Only Tiered Standard payments on the 10-year tier (balances under roughly $25,000) count for PSLF — longer tiers do not qualify unless you actively switch to RAP or IBR.
- A 2026 rule that would have narrowed which employers qualify for PSLF was struck down in court, so existing employer-eligibility standards remain in place.
What Happens If You Can’t Afford Payments?
- Deferment: Pauses payments on subsidized loans without interest accruing (unsubsidized loans still accrue interest).
- Forbearance: Pauses or reduces payments, but interest always accrues — use it sparingly, and check current limits with your servicer since OBBBA tightened how much forbearance time you can use.
- Switch to RAP or IBR: Ties your payment to income instead of a fixed amount — as low as $10/month under RAP.
- Default recovery: If you’ve already defaulted, ask your servicer about Fresh Start or loan rehabilitation.
A cash cushion also helps you avoid missing a payment in the first place — our emergency fund calculator can help size one.
Frequently Asked Questions
6.52% for undergraduate Direct Loans, 8.07% for graduate Direct Unsubsidized Loans, and 9.07% for Direct PLUS loans, effective for loans disbursed July 1, 2026 through June 30, 2027.
No. A March 2026 court order ended the SAVE plan. Borrowers who were on SAVE are being transitioned to RAP, IBR, or the Tiered Standard Plan.
RAP is the new federal income-driven repayment plan for loans disbursed on or after July 1, 2026. Payments are a percentage of your AGI (1-10%), with a $10 monthly minimum and forgiveness after 30 years.
No. Grad PLUS loans ended July 1, 2026. Parent PLUS borrowing is now capped at $20,000 per year per child and $65,000 over a lifetime.
PSLF forgiveness is tax-free at the federal level. IDR forgiveness after 20-25 years (or 30 years under RAP) may be taxable depending on current federal law — check with a tax professional before you count on it.
Extra payments reduce your principal directly, which shortens your payoff timeline and cuts total interest — even an extra $100/month can save years and thousands of dollars, as shown in the payoff table above.
After 90 days the loan is reported as delinquent to credit bureaus. After 270 days it enters default, which can lead to wage garnishment and loss of eligibility for federal aid.
For official numbers specific to your loans, use the Department of Education’s Loan Simulator, and check StudentAid.gov directly for the latest on plan transitions, since servicers are still rolling these changes out through 2028.