Compare student loan repayment plans. Calculate monthly payments for Standard, Graduated, and Income-Driven plans. See how extra payments save money. Updated with 2024 federal tax brackets, standard deductions, and contribution limits.
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| Tax Rate | Single Filer | Married Filing Jointly |
|---|---|---|
| 10% | $0 – $11,600 | $0 – $23,200 |
| 12% | $11,601 – $47,150 | $23,201 – $94,300 |
| 22% | $47,151 – $100,525 | $94,301 – $201,050 |
| 24% | $100,526 – $191,950 | $201,051 – $383,900 |
| 32% | $191,951 – $243,725 | $383,901 – $487,450 |
| 35% | $243,726 – $609,350 | $487,451 – $731,200 |
| 37% | Over $609,350 | Over $731,200 |
This student loan calculator uses the latest 2024 federal tax brackets, standard deduction of $14,600 (single) / $29,200 (married filing jointly), and updated contribution limits. The Social Security wage cap for 2024 is $168,600, and the 401(k) contribution limit is $23,000.
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| Plan | Monthly | Total Paid | Total Interest | Term |
|---|---|---|---|---|
Standard (10-Year) Cheapest Overall | $379.84 | $45,581 | $10,581 | 10 yr |
Graduated | $227.91 | $53,080 | $18,080 | 10 yr |
Extended (25-Year) | $214.93 | $64,479 | $29,479 | 25 yr |
Income-Driven (IDR) Lowest Monthly | $186.75 | $56,025 | $39,118 | 25 yr |
After 120 qualifying payments (10 years) while working for a qualifying employer, remaining balance may be forgiven.