Income-Based Repayment (IBR) Calculator

Determine if you may be eligible for IBR.

If you qualify for Income-Based Repayment (IBR), your income, your total federal student loan debt, and the size of your family are all factors that will determine your monthly student loan payment amount. This calculator helps you determine if you may be eligible for IBR, and it estimates your monthly payment amount if it appears that you do qualify for IBR.

I. Family size¹
Are you married?
How many people other than you and your spouse are in your family?
II. Income²
What was your Adjusted Gross Income (AGI) as reported on last year’s federal income tax return (if you are married and filed a joint tax return, include your spouse’s income)? If unknown, estimate your annual pre-tax earnings.	$
III. Federal student loan debt³
What was your total amount of federal student loan debt when you entered repayment? (look up on myTG)	$
If your spouse has federal student loan debt, and you filed a joint tax return, what was your spouse's total debt when he or she entered repayment?	$

Additional information regarding IBR is available at TG Online

Notes:

¹ For the purpose of IBR, your family size includes your children (including unborn children who will be born during the year for which you apply for IBR) if you provide more than half of the children’s support. Your family size can also include other individuals if, at the time you apply for IBR, those individuals:

Live with you; and
Receive more than half of their support from you and will continue to receive this support during the year for which you apply for IBR.

Support includes money, gifts, loans, housing, food, clothes, car, medical and dental care, and payment of college costs.

² If you did not file a federal income tax return last year, or if your income has changed significantly since filing the return, please enter the amount you earned last year. You may be required to provide alternative income documentation to your lender for their determination of your eligibility for IBR.

³ Federal student loan debt for the purpose of IBR includes FFELP and Direct Stafford and Grad PLUS loans, as well as Consolidation loans as long as they do not include a parent PLUS loan.

Assumptions:

This calculator uses 2009 U.S. Department of Health and Human Services data for the 48 contiguous United States (and Washington, D.C.). If you live in Alaska or Hawaii, the resulting estimate will vary in accuracy. This calculator also uses 6.8% as the student loan interest rate for calculation purposes.

This calculator is provided for estimation of IBR eligibilty purposes only. Specific details about eligibilty and payments will be determined by your lender or servicer during the IBR application process.