Updated for 2026 Rates & OBBBA Changes

Find the Smartest Way to
Pay Off Your Student Loans

Compare every repayment plan, check refinance rates from 7+ lenders, and discover if you qualify for loan forgiveness. Trusted by 12,000+ borrowers.

Quick Loan Summary Calculator
$411/mo
Estimated Monthly Payment (Standard Plan)
IDR (10%)
--
Refinance (4.5%)
--
Potential Savings
--
See full comparison across all plans →
Your information stays private — we never store personal data

💰 Could you get a lower rate? Check in 2 minutes:

Won't affect your credit score. Affiliate links.

12,000+Borrowers Helped
$18,500Avg. Savings Found
2026Updated Rates
100%Free to Use
“Average user saves $18,500 by comparing plans” “Helped me find I qualified for PSLF forgiveness” “Refinanced and cut my rate from 6.8% to 4.2%”
Not sure where to start?

What's Your Situation?

Pick the option that best describes you and we'll point you to the right tool.

💵

I want to lower my monthly payment

See income-driven plans that cap payments based on what you earn
⚡

I want to pay off loans faster

Compare plans side by side to find the quickest payoff strategy
🎓

I work in public service

Check if you qualify for tax-free PSLF forgiveness
📈

I want to refinance for a lower rate

Compare rates from 5+ lenders — no credit score impact
📚

I'm still in school and need loans

Find federal and private loan options for your education
🏆

I need help paying for school

Browse scholarships and grants you may qualify for
Free Tools

Student Loan Calculators

Powerful calculators to help you understand your repayment options, compare plans, and find the best path to becoming debt-free.

📊
Popular

Repayment Plan Comparison

Compare Standard, IBR, RAP, PAYE, and ICR plans side by side. See total cost, monthly payments, and forgiveness amounts.

Calculate Now →
💵
Save Money

Refinance Rate Comparison

Compare personalized refinance rates from top lenders including SoFi, Earnest, Credible, and ELFI. See how much you could save.

Compare Rates →
✅

Loan Forgiveness Checker

Check your eligibility for PSLF, income-driven repayment forgiveness, Teacher Loan Forgiveness, and other programs.

Check Eligibility →
📈
New for 2026

Tax Impact Calculator

Calculate the 2026 "tax bomb" — estimate taxes owed on forgiven student loan balances now that the tax-free provision has expired.

Calculate Tax Impact →
💰

IDR Payment Estimator

Estimate your monthly payment under each income-driven repayment plan based on your income, family size, and state of residence.

Estimate Payment →
🎯

Refinance Savings Calculator

See exactly how much you could save by refinancing — total interest savings, monthly payment reduction, and payoff timeline.

See Savings →
Compare & Save

Student Loan Refinance Comparison

Enter your loan details below to see estimated rates and potential savings from top refinance lenders.

Lender Fixed Rate (est.) Variable Rate (est.) Monthly Payment Total Savings

Rates shown are estimates based on publicly available rate ranges and your selected credit profile. Actual rates may vary. Click "Check Your Rate" to see your personalized offer from each lender. Checking your rate with these lenders uses a soft credit pull and will not affect your credit score. We may receive compensation from partner lenders when you click through and apply.

Visual Breakdown

Payment Over Time

See how your payments break down between principal and interest over the life of your loan.

Amortization Schedule i

Principal Interest Remaining Balance
Personalized Advice

Which Repayment Plan Is Right for Me?

Answer 5 quick yes/no questions and get a personalized recommendation for the best repayment plan.

${planWizardSection()}
Savings Calculator

How Much Could You Save by Refinancing?

Enter your current loan details and see potential savings at multiple lower APR levels.

${refinanceSavingsCalc()}
Budget Check

Monthly Budget Impact

See what percentage of your income goes to student loan payments and whether it is within a healthy range.

${budgetImpactSection()}
${siteProgressTracker()}
Important Updates

2026 Student Loan Changes You Need to Know

Major legislative changes are reshaping student loan repayment. Here is what borrowers need to understand.

📜 OBBBA Key Changes

  • REPAYE plan replaced by the new RAP i (Repayment Assistance Plan)
  • Lower undergraduate borrowing caps for new loans
  • Modified income-driven repayment calculations
  • Changes to Parent PLUS consolidation options
  • New rules for graduate school borrowing limits

⚠️ What Borrowers Should Do

  • Review your current repayment plan before changes take effect
  • If on REPAYE, understand your transition to RAP
  • Recertify income early to lock in current calculations
  • Consider refinancing if you have strong credit and don't need federal protections
  • Use a paycheck calculator to see how payments affect your take-home pay
  • Explore debt payoff strategies to accelerate your repayment
  • Check PSLF progress — this program remains unchanged
Decision Guide

Should You Refinance Your Student Loans?

Answer a few quick questions to find out if refinancing could save you money — or if keeping federal loans is the smarter move.

Step 1: What type of loans do you have?

This is the most important factor. Federal and private loans have very different considerations.

✅ Refinancing could save you money!

Based on your answers, you may benefit from refinancing. Compare rates from top lenders to see your potential savings.

Compare Refinance Rates

💰 Could You Get a Lower Rate?

Students save an average of $16,000 by refinancing. Check your rate in 2 minutes:

Checking your rate won't affect your credit score.

🔒 Keep your federal loans

Based on your answers, keeping your federal loans is likely the better choice. You would lose access to forgiveness programs and income-driven repayment if you refinance.

🤔 Consider refinancing only your private loans

You may want to refinance your private loans for a better rate, but keep your federal loans to maintain access to forgiveness and IDR plans.

📈 Work on improving your credit first

With a higher credit score, you will qualify for significantly better refinance rates. Focus on building credit before refinancing.

✅ Yes, refinance your private loans!

Private loans don't have federal protections anyway. Refinancing could lower your rate and save you money.

Compare Refinance Rates

💰 Could You Get a Lower Rate?

Students save an average of $16,000 by refinancing. Check your rate in 2 minutes:

Checking your rate won't affect your credit score.

Forgiveness Programs

Student Loan Forgiveness Programs

Multiple paths to student loan forgiveness exist. Here is the current status of each program as of 2026.

Public Service Loan Forgiveness (PSLF) i

Active

Forgives remaining balance after 120 qualifying payments while working for government or qualifying non-profits. Forgiveness is tax-free.

Requires: Direct Loans, qualifying employer, IDR or standard 10-year plan

Income-Driven Repayment Forgiveness i

Changing in 2026

Forgives remaining balance after 20-25 years of payments under IDR plans. Starting 2026, forgiven amounts may be taxable income (the "tax bomb"). Consider a Roth conversion calculator to plan for the tax impact.

Applies to: IBR, PAYE, ICR, RAP (replacing REPAYE)

Teacher Loan Forgiveness

Active

Up to $17,500 forgiven for teachers who serve 5 consecutive years in low-income schools. Available for Direct Loans and some FFEL loans.

STEM and special education teachers qualify for the higher $17,500 amount

Biden-Era Broad Forgiveness

Ended

The broad forgiveness plans and SAVE plan have been blocked by courts and are no longer available. Individual programs like PSLF remain unaffected.

Borrowers on SAVE were transitioned to other IDR plans

Tax Guide

Student Loan Tax Guide 2026

Understand the tax implications of your student loans — from the interest deduction to the forgiveness tax bomb.

Student Loan Interest Deduction i

Up to $2,500 in student loan interest can be deducted from your taxable income — even without itemizing.
  • Maximum Deduction$2,500
  • Filing StatusAll except MFS
  • Phase-out (Single)$80K - $95K MAGI
  • Phase-out (MFJ)$165K - $195K MAGI
  • Itemizing Required?No

Use our tax calculator to see how the student loan interest deduction affects your 2026 tax brackets.

💣 Forgiveness Tax Bomb Calculator

Starting in 2026, forgiven student loan balances under IDR plans may be treated as taxable income. Estimate your potential tax liability.

Estimated tax owed on forgiven amount

$17,600

Consider setting aside monthly savings to prepare for this liability.

FAQ

Frequently Asked Questions

What are the best student loan refinance rates in 2026?▼
As of 2026, top refinance rates start at 4.29% fixed (Earnest) and 4.49% fixed (SoFi, Splash Financial). Variable rates start lower but carry the risk of increasing over time. Your actual rate depends on your credit score, income, loan amount, and other factors. Checking rates uses a soft credit pull, which does not affect your credit score.
Should I refinance my federal student loans?▼
Refinancing federal loans converts them to private loans, which means you permanently lose access to income-driven repayment plans, PSLF forgiveness, and federal forbearance/deferment protections. Only consider refinancing federal loans if you have stable income, strong credit (700+), and are certain you do not need federal benefits. Use our decision tree above to help you decide.
What is PSLF and am I eligible?▼
Public Service Loan Forgiveness (PSLF) forgives your remaining federal Direct Loan balance after 120 qualifying monthly payments while working full-time for a qualifying employer (government agencies or 501(c)(3) non-profits). The forgiven amount is completely tax-free. You must be on an income-driven repayment plan or the standard 10-year plan.
How does the 2026 OBBBA affect my student loans?▼
The One Big Beautiful Bill Act (OBBBA) introduces significant changes: the REPAYE plan is replaced by the new RAP (Repayment Assistance Plan) with modified terms, undergraduate borrowing caps are reduced for future borrowers, income-driven repayment calculations are adjusted, and Parent PLUS consolidation options change. Current borrowers on REPAYE will be transitioned to RAP.
What is the student loan forgiveness "tax bomb"?▼
Under income-driven repayment plans, remaining loan balances are forgiven after 20-25 years. The American Rescue Plan made this forgiveness tax-free through 2025. Starting in 2026, forgiven amounts may be treated as taxable income, potentially creating a large, unexpected tax bill. For example, if $100,000 is forgiven and you are in the 22% tax bracket, you could owe $22,000 in additional taxes. PSLF forgiveness remains tax-free.
Can I deduct student loan interest on my taxes?▼
Yes, you can deduct up to $2,500 in student loan interest paid during the tax year. This is an "above-the-line" deduction, meaning you can claim it without itemizing. The deduction phases out at higher incomes: $80,000-$95,000 MAGI for single filers and $165,000-$195,000 for married filing jointly. You cannot claim this deduction if you file as married filing separately.
What is income-driven repayment (IDR)?▼
Income-driven repayment plans cap your monthly federal student loan payment at a percentage of your discretionary income. Available plans include ICR (20% of discretionary income, 25-year forgiveness), IBR (10-15%, 20-25 year forgiveness), PAYE (10%, 20-year forgiveness), and the new RAP plan (replacing REPAYE). After the repayment period, remaining balances are forgiven.
Can I refinance Parent PLUS loans?▼
Yes, several lenders including ELFI, SoFi, and Earnest allow Parent PLUS loan refinancing. This is often a smart move because Parent PLUS loans typically have higher interest rates (currently around 8-9%). By refinancing, parents with good credit can significantly reduce their interest rate. Note that refinancing means losing access to the ICR plan and any federal protections.
News & Updates

Student Loan News 2026

Key updates affecting borrowers right now. Stay informed about rate changes, forgiveness programs, and policy shifts.

SAVE Plan Status

SAVE Plan Blocked — Borrowers Moved to RAP

The SAVE plan has been blocked by courts and is no longer available for new enrollment. Existing SAVE borrowers have been transitioned to the new RAP (Repayment Assistance Plan) under the 2026 OBBBA legislation. Read the full comparison.

Interest Rates

2025-26 Federal Loan Rates Set at 6.53% / 9.08%

Federal Direct Subsidized and Unsubsidized loans for undergrads are at 6.53% fixed. Graduate unsubsidized loans are 8.08%. Parent and Grad PLUS loans are at 9.08%. Compare all loan options.

Tax Alert

Forgiveness Tax Bomb Returns in 2026

The tax-free treatment of forgiven student loan balances expired Dec 31, 2025. IDR forgiveness is now taxable income again. PSLF remains tax-free. Calculate your tax impact.

Forgiveness

PSLF Program Remains Unchanged and Active

Public Service Loan Forgiveness continues to offer tax-free forgiveness after 120 qualifying payments. The program was not affected by recent legislative changes. Check your eligibility.

Explore All Student Loan Resources

Everything you need to manage, repay, and save on your student loans — all in one place.

Repayment Plan Comparison Refinance Rate Comparison Forgiveness Checker Tax Guide 2026 IDR Calculator Consolidation Guide Find Student Loans Refinance Match Tool Scholarship Finder Blog & Guides

Ready to Lower Your Student Loan Payments?

Compare personalized rates from top lenders in minutes. Checking your rate will not affect your credit score.

Compare Refinance Rates

Get Your Personalized Repayment Analysis

Free custom report comparing all repayment plans for your specific loan situation, delivered to your inbox.

✅ Side-by-side plan comparison ✅ Savings estimate ✅ Personalized recommendation

No spam ever. Unsubscribe anytime. We respect your privacy.

Student Essentials

Gear to help you stay productive while paying off loans

💻
Laptop Stand
Ergonomic posture for long study sessions
$10 - $25
🎧
Noise-Cancelling Earbuds
Focus in noisy dorms & libraries
$12 - $35
💡
LED Desk Lamp
Eye-friendly light for late-night studying
$10 - $22
📝
Planner / Organizer
Track loan payments & financial goals
$5 - $15

As an affiliate, we may earn from qualifying purchases

Student Loan Facts You Should Know

$1.77T Total U.S. student loan debt held by 43 million borrowers
$503/mo Average monthly student loan payment for borrowers in repayment
$14K–$20K Potential savings from refinancing to a lower interest rate
50–70% Payment reduction possible with income-driven repayment plans
$62B+ Forgiven through Public Service Loan Forgiveness (PSLF) to date

Frequently Asked Questions About Student Loans

How do I know if I qualify for student loan forgiveness?

Eligibility depends on the forgiveness program. For Public Service Loan Forgiveness (PSLF), you must work full-time for a qualifying government or nonprofit employer, have Direct Loans, be on an income-driven repayment plan, and make 120 qualifying payments. For income-driven repayment (IDR) forgiveness, any remaining balance is forgiven after 20–25 years of payments. Teachers may qualify for Teacher Loan Forgiveness after 5 years at a low-income school. Use our forgiveness checker to evaluate your eligibility.

Should I refinance my student loans?

Refinancing can save you thousands if you have a strong credit score (typically 700+) and can secure a lower interest rate. However, refinancing federal loans into private loans means permanently losing access to income-driven repayment plans, PSLF eligibility, and federal forbearance protections. Refinancing is usually best for borrowers with private loans or those who don’t need federal protections. Compare your options with our refinance rate comparison tool.

What is income-driven repayment and how does it work?

Income-driven repayment (IDR) plans cap your monthly payments at a percentage of your discretionary income. The main plans include SAVE/REPAYE (5–10% of discretionary income), PAYE (10%), IBR (10–15%), and ICR (20%). After 20–25 years of payments, any remaining balance is forgiven. IDR plans are ideal for borrowers whose payments under standard repayment are unaffordable relative to their income. Calculate your IDR payments with our IDR calculator.

How can I pay off student loans faster?

Proven strategies include: 1) Make extra payments toward principal each month. 2) Use the avalanche method by targeting the highest-interest loan first. 3) Set up biweekly payments instead of monthly (adds one extra payment per year). 4) Refinance to a lower rate to reduce total interest. 5) Direct windfalls like tax refunds and bonuses toward your loans. Even an extra $100/month can shave years off a 10-year repayment plan. Try our repayment comparison tool to see the impact.

What’s the difference between federal and private student loans?

Federal loans are issued by the U.S. Department of Education with fixed interest rates set by Congress, and they offer income-driven repayment, forgiveness programs, deferment, and forbearance. Private loans are issued by banks, credit unions, or online lenders with rates based on your creditworthiness. Private loans typically lack IDR plans, forgiveness, or federal protections, but may offer lower rates for borrowers with excellent credit. Most financial advisors recommend exhausting federal loan options before borrowing privately.

Can I deduct student loan interest on my taxes?

Yes. You can deduct up to $2,500 per year in student loan interest paid, even if you don’t itemize deductions. The deduction phases out for single filers with an adjusted gross income (AGI) between $75,000 and $90,000, and for married filing jointly between $155,000 and $185,000. Both federal and private student loan interest qualifies. Learn more with our student loan tax guide.

How Much Can You Save? Real Scenarios

Refinancing Savings

$50,000 in loans at 6.8% interest rate

↓ Refinance to 4.5%

Save $8,400 over the life of the loan

Compare Refinance Rates →
Income-Driven Repayment

$30,000 in loans on standard repayment

↓ Switch to IDR plan

Payments drop from $345/mo to $180/mo

Calculate Your IDR Payment →
PSLF Forgiveness

Teacher with $40,000 in federal loans

↓ PSLF after 10 years of qualifying payments

$40,000 forgiven — remaining balance eliminated

Check Your Forgiveness Eligibility →
More Free Tools From Our Network
📈
AIHowToInvest.com
145+ free financial calculators
💰
ReturnMyTax.com
Tax calculators for all 50 states
🌍
AttractionScout.com
Travel attractions guide

This site provides general information about student loans for educational purposes only. It is not a lender and does not provide financial advice. Interest rates and terms shown are estimates and may vary. Consult your loan servicer or a financial advisor for personalized guidance.

Disclosure: This site may earn commissions from qualifying purchases through affiliate links.