Pay As You Earn Repayment Calculator

Calculate what your monthly payment would be using the Pay As You Earn Repayment Plan


Under the Pay As You Earn (PAYE) Repayment Plan, your monthly payments are recalculated each year on the basis of the your income and family size.

In order to qualify for the PAYE repayment plan:

  • You must have had no outstanding balance on an FDLP or FFELP loan as of October 1, 2007, or had no outstanding balance on an FDLP or FFELP loan when you received a new loan on or after October 1, 2007, and
  • You must have received a disbursement of an FDLP loan on or after October 1, 2011.

I. Eligibility

Did you receive your first student loan on or after Oct. 1, 2007, with no prior outstanding student loans?

Did you receive disbursement of an FDLP loan on or after October 1, 2011?

II. Family size

Including you, how many people live in your household? Be sure to include your spouse (if you are married), children, and any other dependents.

III. Income

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 your AGI is unknown, estimate your annual pretax earnings.

$
II. Federal student loan debt (Look up on myTG or NSLDS)
Beginning loan amount: What was your total amount of federal student loan debt when you entered repayment? $
Term of the loan(s)
Annual interest rate %

IV. State of Residence

Continental U.S.
Alaska
Hawaii


Additional information regarding the Pay As You Earn repayment plan is available at TG Online.

Assumptions:

This calculator uses 2013 U.S. Department of Health and Human Services data.

This calculator is provided for the purpose of estimation of PAYE only. Specific details about eligibility and payments will be determined during the PAYE application process.