SAVE vs RAP Student Loan Payment Calculator

The SAVE plan is dead. Compare your monthly student loan payments under the new RAP plan, IBR, and standard repayment. See how much more you'll pay and plan ahead.

Your Loan Details

3%10%

Your SAVE → RAP Payment Change

SAVE Payment

$58.71

RAP Payment

$166.67

Difference

+$107.96/mo

% Change

+183.9%

RAP

Starts July 2026
Monthly Payment$166.67
Total Paid$35,000
Total Interest$20,093
Forgiven AmountNone
Forgiveness TimelinePaid off in 18 years
Balance Grows?No

SAVE

Struck Down
Monthly Payment$58.71
Total Paid$14,090
Total Interest$36,548
Forgiven Amount$20,910
Forgiveness Timeline20 years
Balance Grows?No

IBR (New)

Post-July 2014
Monthly Payment$217.17
Total Paid$52,120
Total Interest$38,974
Forgiven Amount$21,854
Forgiveness Timeline20 years
Balance Grows?No

IBR (Old)

Pre-July 2014
Monthly Payment$325.75
Total Paid$52,744
Total Interest$17,744
Forgiven AmountNone
Forgiveness TimelinePaid off in 14 years
Balance Grows?No

Standard 10-Year

Default Plan
Monthly Payment$397.95
Total Paid$47,754
Total Interest$12,754
Forgiven AmountNone
Forgiveness TimelinePaid off in 10 years
Balance Grows?No

Monthly Payment Comparison

Total Cost Comparison

Includes total payments made. Forgiven amounts may be taxable under current law — see our Student Loan Tax Bomb Calculator to estimate the tax impact.

PlanMonthlyTotal PaidForgivenTimeline
RAP$166.67$35,000--18 yr
SAVE$58.71$14,090$20,91020 yr
IBR (New)$217.17$52,120$21,85420 yr
IBR (Old)$325.75$52,744--14 yr
Standard 10-Year$397.95$47,754--10 yr

How to Use the SAVE vs RAP Calculator

This calculator compares your monthly student loan payments across five repayment plans: the new RAP plan, the defunct SAVE plan, IBR (New and Old), and the Standard 10-Year plan. Follow these steps:

  1. Enter your loan balance — the total federal student loan balance you currently owe.
  2. Set your interest rate — the weighted average interest rate across your loans. You can find this on studentaid.gov.
  3. Enter your AGI — your adjusted gross income from your most recent tax return (Form 1040, line 11).
  4. Set household size and dependents — household size affects the poverty level threshold used by SAVE and IBR. Dependents affect the RAP calculation ($50/month reduction per dependent).
  5. Choose your loan type — this affects the SAVE payment rate (5% for undergrad, 10% for grad) and forgiveness timeline.
  6. Review the comparison — look at monthly payments, total cost, forgiveness amounts, and the SAVE-to-RAP transition card.

Understanding Each Repayment Plan

RAP (Repayment Assistance Plan)

RAP replaces the SAVE plan starting July 1, 2026. It uses a simple sliding scale based on your total AGI rather than discretionary income. Payments range from $10/month (for AGI under $10,000) to 10% of AGI divided by 12 (for AGI over $100,000). Each dependent reduces your payment by $50/month. The minimum payment is $10. Unpaid interest is fully waived, so your balance never grows. Forgiveness comes after 30 years of payments.

SAVE (Saving on a Valuable Education)

SAVE was struck down by the 8th Circuit Court of Appeals on March 9, 2026, and is no longer available. It calculated payments based on discretionary income (AGI minus 225% of the federal poverty level) at a rate of 5% for undergraduate loans and 10% for graduate loans. Forgiveness was after 20 years for undergrad and 25 years for grad loans. Like RAP, it waived unpaid interest. This calculator shows SAVE for comparison purposes only.

IBR (Income-Based Repayment)

IBR comes in two versions. New IBR (for loans originated after July 1, 2014) uses 10% of discretionary income above 150% of FPL with forgiveness after 20 years. Old IBR (for loans before July 1, 2014) uses 15% of discretionary income with forgiveness after 25 years. Both are capped at the standard 10-year payment amount. Unlike RAP and SAVE, IBR does NOT waive unpaid interest, so your balance can grow if payments do not cover interest.

Standard 10-Year

The default repayment plan with fixed monthly payments over 10 years. This results in the highest monthly payment but the lowest total cost since you pay off the full balance with interest and receive no forgiveness.

Important Caveats About the SAVE-to-RAP Transition

  • Forbearance months do not count. Time spent in SAVE forbearance does not count toward forgiveness under any plan.
  • Interest capitalization risk. If you switch from SAVE forbearance to IBR before transitioning to RAP, any accrued interest during forbearance may capitalize (be added to your principal balance). If you wait for automatic RAP enrollment, interest during forbearance is waived.
  • Income recertification. You will need to recertify your income when RAP begins. Your payment will be based on your most recent AGI.
  • Tax bomb. Forgiveness under RAP after 30 years is taxable income under current law. Plan ahead for the potential tax bill by using our Student Loan Tax Bomb Calculator.
  • PSLF remains available. If you work for a qualifying public service employer, Public Service Loan Forgiveness (PSLF) still provides tax-free forgiveness after 120 qualifying payments. You can make qualifying PSLF payments while on RAP or IBR.

Frequently Asked Questions

What happened to the SAVE plan?+
The SAVE (Saving on a Valuable Education) plan was struck down by the 8th Circuit Court of Appeals on March 9, 2026. Seven Republican-led states sued, arguing the Department of Education exceeded its authority in creating SAVE. The Trump administration agreed to a settlement permanently ending the plan. Borrowers were placed in administrative forbearance starting in mid-2024 when the initial injunction hit, and remain in forbearance until RAP launches July 1, 2026.
What is the RAP plan?+
RAP (Repayment Assistance Plan) is the replacement for SAVE, created by the One Big Beautiful Bill Act (OBBBA, Public Law 119-21). It uses a sliding scale based on your adjusted gross income (AGI) to determine your monthly payment, ranging from 1% to 10% of AGI divided by 12. It also provides a $50 per month reduction for each dependent and a $50/month government principal match. The minimum payment is $10 per month, and forgiveness occurs after 30 years (360 payments).
When does RAP start?+
RAP is scheduled to begin on July 1, 2026. Borrowers currently in SAVE forbearance will be automatically enrolled in RAP on that date unless they choose a different repayment plan before then. The months spent in SAVE forbearance do NOT count toward RAP forgiveness.
How is the RAP payment calculated?+
RAP uses a sliding scale based on your AGI: $0-$10,000 AGI pays a flat $10/month; $10,001-$20,000 pays 1% of AGI divided by 12; $20,001-$30,000 pays 2%; and so on up to $100,001+ which pays 10% of AGI divided by 12. Then $50 is subtracted for each dependent. The minimum payment is always $10/month.
Is RAP better or worse than SAVE?+
For most borrowers, RAP results in higher monthly payments than SAVE would have. SAVE used 5% of discretionary income (above 225% of the federal poverty level) for undergraduate loans and 10% for graduate loans. RAP uses a flat percentage of total AGI on a sliding scale. Lower-income borrowers may see similar or lower payments, but middle and higher-income borrowers will generally pay more under RAP.
Can I still enroll in IBR instead of RAP?+
Yes. Income-Based Repayment (IBR) remains available. New IBR (for loans after July 1, 2014) uses 10% of discretionary income above 150% of FPL with forgiveness after 20 years. Old IBR (for loans before July 1, 2014) uses 15% of discretionary income with forgiveness after 25 years. You should compare all available plans to find the lowest payment and total cost for your situation.
Will my balance grow under RAP?+
No. RAP waives 100% of unpaid interest. If your monthly payment does not cover the full interest charge, the remaining interest is waived and your balance does not grow. This is the same interest benefit that SAVE provided. However, IBR does NOT waive unpaid interest, so your balance can grow under IBR if your payment is less than the monthly interest.
Is RAP forgiveness taxable?+
Under current law (as of 2026), yes. The American Rescue Plan Act temporarily excluded student loan forgiveness from taxable income through 2025, but that provision has expired. Forgiveness under RAP after 30 years will be treated as taxable income. Use our Student Loan Tax Bomb Calculator to estimate the tax impact.
What happens if I don't choose a plan?+
If you are currently in SAVE forbearance and do not actively select a repayment plan before July 1, 2026, you will be automatically enrolled in the RAP plan. Your first payment under RAP will be due based on your most recent income certification. If you have not certified your income, you may be placed on a plan based on the available income data.
Are Parent PLUS loans eligible for RAP?+
No. Parent PLUS loans are not eligible for RAP, just as they were not eligible for SAVE. Parent PLUS borrowers can access income-contingent repayment (ICR) by consolidating into a Direct Consolidation Loan. ICR charges 20% of discretionary income or what you would pay on a 12-year fixed plan, whichever is less, with forgiveness after 25 years.

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