This calculator compares the cost of repaying Federal student loans using the Income Contingent Repayment (ICR) option and the standard repayment option, including the net present value of those payments.

Please click on the field names for help in using this calculator. Additional information can be found in the instructions. For more information about discount rates, see also the discussion of net present value.

Please note that the HHS Poverty Tables are updated in February while the Income Percentage Factors aren't updated until sometime between May and July. Between February and July this calculator uses the previous year's income percentage factors with the latest poverty tables. Use the 2007 table year to be sure of fully consistent results until July 2008.

Table Year: 19981999200020012002200320042005200620072008
Family Size:	Discount Rate:		CPI:
State of Residence: Continental U.S.HawaiiAlaska	Income Growth Rate:		Poverty Level Change Rate:
Loan Forgiveness
Year of Forgiveness: 10 Years (Public Service)25 Years
	STUDENT		SPOUSE
Adjusted Gross Income (AGI):
Expected Income Jump (Enter New AGI):
Years After Graduation:
	Loan Amount	Interest Rate	Loan Amount	Interest Rate
First Loan:
Second Loan:
	INCOME CONTINGENT REPAYMENT		FIXED MONTHLY REPAYMENT
Loan Term:	25 Years		10 Years12 Years15 Years20 Years25 Years30 Years
Minimum Payment:
Interest Rate Reduction:
... after month:
Display full payment schedule? Yes No

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Acknowledgments

This ICR calculator is based, in part, upon published income percentage factors and poverty guidelines provided by the federal government. It was implemented by Mark Kantrowitz, in collaboration with Tai Hsia and Professor Philip G. Schrag of the Georgetown University Law Center.