From July 1, 2026, new federal student loans can only be repaid on the Tiered Standard plan (10–25 years by balance) or the income-driven Repayment Assistance Plan (RAP). SAVE has ended, PAYE and ICR are being phased out by July 1, 2028, Grad PLUS is closed to new borrowers, and graduate borrowing is capped at $100,000 ($200,000 for professional programs).
Student loan payment calculator
Total interest on the 10-year plan: – · Income for the 10% rule: – a year (payment × 120). RAP: 1–10% of AGI ÷ 12 by $10k bracket, minus $50 per dependent, minimum $10. Estimates only.
Student loan monthly payment by balance (2026-27 rates)
Pick a balance for the full guide: payments on every plan, RAP by income, total interest, the income you need and refinancing math. Balances up to $57,500 use the 6.52% undergraduate rate; larger balances use the 8.07% graduate rate.
| Balance | Rate | 10-yr / mo | Tiered (new loans) | Total interest | Income for 10% rule |
|---|---|---|---|---|---|
| $20,000 | 6.52% | $227 | $227 (10 yr) | $7,276 | $27,000 |
| $25,000 | 6.52% | $284 | $218 (15 yr) | $9,095 | $34,000 |
| $30,000 | 6.52% | $341 | $262 (15 yr) | $10,914 | $41,000 |
| $35,000 | 6.52% | $398 | $305 (15 yr) | $12,733 | $48,000 |
| $40,000 | 6.52% | $455 | $349 (15 yr) | $14,552 | $55,000 |
| $50,000 | 6.52% | $568 | $373 (20 yr) | $18,190 | $68,000 |
| $60,000 | 8.07% | $730 | $504 (20 yr) | $27,622 | $88,000 |
| $70,000 | 8.07% | $852 | $589 (20 yr) | $32,226 | $102,000 |
| $80,000 | 8.07% | $974 | $673 (20 yr) | $36,830 | $117,000 |
| $90,000 | 8.07% | $1,095 | $757 (20 yr) | $41,434 | $131,000 |
| $100,000 | 8.07% | $1,217 | $776 (25 yr) | $46,037 | $146,000 |
| $120,000 | 8.07% | $1,460 | $932 (25 yr) | $55,245 | $175,000 |
| $150,000 | 8.07% | $1,825 | $1,165 (25 yr) | $69,056 | $219,000 |
| $175,000 | 8.07% | $2,130 | $1,359 (25 yr) | $80,565 | $256,000 |
| $200,000 | 8.07% | $2,434 | $1,553 (25 yr) | $92,075 | $292,000 |
Navy: undergraduate rate 6.52%. Gold: graduate rate 8.07%.
2026 rule changes
RAP explained
How the new Repayment Assistance Plan calculates payments, the $50 principal match and 30-year forgiveness.
SAVE plan ended: what now?
What happened to SAVE, the 90-day window to choose a new plan, and how RAP and IBR payments compare.
New student loan limits 2026
Grad PLUS closed, $100k/$200k graduate caps, Parent PLUS $65k and the $257,500 lifetime limit.
Tiered Standard plan
The new fixed plan for loans made after July 2026: 10 to 25 years depending on balance.
2026-27 interest rates
6.52% undergrad, 8.07% grad, 9.07% PLUS — how they’re set and what they cost.
Compare repayment plans
IBR vs RAP
Side-by-side payments and 20- vs 30-year costs for borrowers whose loans predate July 2026.
Extended vs graduated
Lower-payment fixed plans still open to borrowers whose loans predate July 2026.
How much debt is too much?
Income needed by balance under the 10% rule and the “first-year salary” rule.
Forgiveness & taxes
PSLF basics 2026
Who qualifies for Public Service Loan Forgiveness, which plans count after July 2026, and how much can be forgiven.
Is forgiveness taxable?
IDR forgiveness became federally taxable again in 2026; PSLF did not. How to plan for the tax bomb.
Interest deduction 2026
Deduct up to $2,500 of student loan interest; 2026 phase-out $85k–$100k single, $175k–$205k joint.
Strategy
How student loan interest works
Daily simple interest, subsidized vs unsubsidized loans, and why the first years of payments are mostly interest.
Pay off or invest?
A guaranteed return equal to your loan rate vs uncertain market returns — with a 401(k) match first.
Refinance student loans?
When a lower private rate is worth giving up RAP, PSLF and federal protections.
Budget the payment against your paycheckSee your take-home pay after taxes, then test how much room a student loan payment leaves.
Frequently asked questions
What are federal student loan interest rates for 2026-27?
6.52% for undergraduate Direct Loans, 8.07% for graduate and professional Direct Unsubsidized Loans and 9.07% for PLUS loans first disbursed July 1, 2026–June 30, 2027 (FSA, June 4, 2026). Rates are fixed for the life of each loan.
What is the Repayment Assistance Plan (RAP)?
RAP is the income-driven plan created by the One Big Beautiful Bill Act and available from July 1, 2026. Payments are 1% to 10% of adjusted gross income (minimum $10 a month), minus $50 a month per dependent; unpaid interest is waived and remaining balances are forgiven after 360 qualifying payments.
Is the SAVE plan still available?
No. SAVE has ended and borrowers who were enrolled in it must choose another plan (RAP, IBR or a standard plan) after their servicer notifies them.
What is the monthly payment on $30,000 in student loans?
$340.95 a month over 10 years at 6.52%, or $261.66 on the 15-year Tiered Standard plan for new loans.
How much can graduate students borrow after July 1, 2026?
New graduate borrowers can take up to $20,500 a year ($100,000 total); professional students up to $50,000 a year ($200,000 total). Grad PLUS is closed to new borrowers and there is a $257,500 lifetime cap.
Sources & methodology
- U.S. Department of Education, FSA Electronic Announcement GENERAL-26-33, “Interest Rates for Federal Direct Loans First Disbursed Between July 1, 2026 and June 30, 2027” (June 4, 2026).
- U.S. Department of Education, “Fact Sheet: Trump Administration Simplifying Student Loan Repayment” (ed.gov, page reviewed June 11, 2026).
- NerdWallet, “What Is the New Repayment Assistance Plan (RAP)?” (updated July 30, 2026) — RAP AGI brackets.
- Commonwealth of Massachusetts, “The New Tiered Standard Plan” (mass.gov) — balance tiers 10/15/20/25 years.
- California DFPI, “Student loan borrowers: important student loan changes effective July 1” — OBBBA loan limits; university financial aid OBBBA FAQs.
- BestColleges, “SAVE Plan Ending: What Borrowers Need to Do Next” (updated June 1, 2026); Tate Law, “PSLF Changes in 2026” (updated Oct 29, 2026).
- FSA Dear Colleague Letter GEN-25-04, “Federal Student Loan Program Provisions Effective Upon Enactment Under the One Big Beautiful Bill Act” (July 18, 2025).
- Payments use standard amortization with monthly interest. RAP and IBR projections are our simplified models (income +3%/yr, single loan, on-time payments) — your servicer’s figures will differ. Information only, not financial, tax or legal advice. Rules checked 2026-11-03.