IDR Plan Comparison
2024-05-01
# IDR Plan Comparison: Which Saves You the Most?
Choosing the right income-driven repayment plan can save you thousands. Here's how the plans compare.
Payment Percentage
| Plan | Payment % | Forgiveness |
| ------ | ----------- | ------------- |
| SAVE | 5-10% | 10-20 years |
| PAYE | 10% | 20 years |
| IBR | 10-15% | 20-25 years |
| ICR | 20% | 25 years |
Key Differences
### SAVE Plan (When Available) - Lowest payments (5% for undergrad) - 100% interest subsidy - Blocked by courts as of 2024
### PAYE Plan - Payment cap protects high earners - Strict eligibility requirements - No interest capitalization if staying in plan
### IBR Plan - Available to all borrowers - Spouse income excluded if filing separately - Higher payment percentage
### ICR Plan - Only option for Parent PLUS borrowers - Highest payment percentage - Always counts spouse income
How to Choose
1. **New borrower with high debt**: PAYE 2. **Older loans**: IBR 3. **Parent PLUS loans**: ICR (after consolidation) 4. **When SAVE becomes available**: SAVE (for most borrowers)
Use our IDR calculator to compare your specific situation.