Income-Driven Student Loan Repayment Calculator (RAP vs IBR, 2026)
Compare monthly federal student loan payments under the new Repayment Assistance Plan (RAP, from July 2026), Income-Based Repayment (IBR) and the 10-year standard plan — using your AGI, family size and 2026 poverty guidelines.
For information and education only — not financial advice. Results are estimates based on the numbers you enter; check important decisions with a qualified professional.
How to use
- 1Enter your loan balance, interest rate and adjusted gross income (AGI).
- 2Enter your family size and dependents.
- 3Compare the monthly payment on each plan.
How it's calculated
RAP: AGI × bracket rate (1% for $10,001–$20,000, rising 1% per $10,000 to 10% above $100,000) ÷ 12, minus $50 per dependent, minimum $10. IBR (new borrowers): 10% × (AGI − 150% of the poverty line) ÷ 12, never more than the 10-year standard payment; older IBR: 15%. Standard: 10-year amortised payment.
Frequently asked questions
Who can use RAP?
RAP opened on 1 July 2026. New loans made from that date can only use RAP or a standard plan; existing borrowers can switch to RAP. PAYE and ICR close to everyone by 1 July 2028, and SAVE has ended.
What's special about RAP?
Unpaid interest each month is waived, and the government matches up to $50 of principal when your payment covers less — so on-time payments always reduce the balance. Remaining debt is forgiven after 30 years of payments.
When is IBR better?
Often for borrowers with large families or lower incomes relative to the poverty line, because IBR subtracts 150% of the poverty guideline before calculating. Run both — this calculator shows them side by side.