Student Loans: Choose the Income-Driven Repayment Plan That Fits Your Life

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Run Every Open Plan Through Loan Simulator
25 min
This applies when a switch is on the table or a servicer plan-change letter just arrived. The Department’s Loan Simulator at studentaid.gov prices every plan you can legally hold, using your actual loan types, balances and interest rates pulled straight from your account.
Feed it your latest AGI from the federal return, household size and state. Capture two figures for each plan it offers: the monthly payment and the projected total interest. A plan that looks cheapest month-to-month can be the most expensive lifetime — both columns go on the sheet.
- Log in at studentaid.gov, open Loan Simulator and choose Explore repayment plans.
- Check the prefilled loan list against the Dashboard: types, balances, interest rates, servicer.
- Enter or correct AGI, family size and state so the run reflects current reality.
- Record monthly payment and projected total interest for every plan shown, including Tiered Standard.
- Write today’s date at the top of the sheet before closing the tab.

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