I definitely do have federal student loans (they're showing on Nelnet) but whenever I try to go in and change the plan on studentaid.gov (currently on SAVE like so many others), it isn't showing me any loans at all, nor can I see any repayment plans. It's been like this for months. I've tried desktop and phone, Chrome/Edge/Safari, private/incognito browsers and not. Any suggestions?
Is anyone else not able to use the repayment calculators?
byu/crazydisneycatlady inStudentLoans
Posted by crazydisneycatlady
2 Comments
Just calculate it yourself. If you know your AGI the math is trivial.
The website can be glitchy. You can look at other calculators to get estimates and/or check the math yourself.
Here is a calculator that includes RAP: [https://www.studentloanplanner.com/income-based-repayment-calculator/](https://www.studentloanplanner.com/income-based-repayment-calculator/)
Here is one that includes ICR: [https://www.tateesq.com/calculator/income-contingent-repayment](https://www.tateesq.com/calculator/income-contingent-repayment)
To calculate your IDR payment based on discretionary income, first find the federal poverty guideline for your location and family size. That changes yearly and can be found online here: [https://aspe.hhs.gov/topics/poverty-economic-mobility/poverty-guidelines](https://aspe.hhs.gov/topics/poverty-economic-mobility/poverty-guidelines)
Multiply that number by 150% for IBR and PAYE, or 100% for ICR. Subtract that number from your AGI to get your discretionary income. Payments for PAYE and New IBR are 10% of your discretionary income. Old IBR is 15%. ICR is 20%. Divide by 12 to get your monthly payment amount.
RAP is a straightforward percentage of your AGI -$50 per month per dependent claimed on your taxes: [https://www.reddit.com/r/StudentLoans/s/lsHO2ct2JR](https://www.reddit.com/r/StudentLoans/s/lsHO2ct2JR)