Student Loan Repayment Plan Comparison Spreadsheet 2026: RAP vs IBR vs Standard, Amortization & Forgiveness Tax Calculator

The Student Loan Repayment Plan Comparator 2026 is a 7-tab spreadsheet. It compares RAP vs IBR vs Tiered Standard side by side, using real amortization math.

You get year-1 monthly payments and 30-year year-by-year schedules. You see lifetime payments, forgiveness year and balance, and the estimated tax on the forgiven balance. All of this rolls into one true-cost number per plan. Then the workbook names the winner.

This is for a US federal student-loan borrower who is choosing blind between plans their servicer explains in vague paragraphs. It shows your real monthly payment, total cost, and the forgotten tax bill on forgiven debt before you commit.

Picking the wrong student-loan repayment plan in 2026 can cost you thousands. The rules changed under your feet this year.

There is a new plan called RAP. Payments run from 1% to 10% of income. IBR is off the table for newer borrowers. The tax break on forgiven debt expired on December 31, 2025. Forgiven balances are taxable income again starting 2026. Most borrowers are choosing blind between plans their servicer explains in vague paragraphs.

This spreadsheet does the math on YOUR loans and YOUR income. You see the real numbers before you commit.

You see your monthly payment under each plan this year. You see every year for the next 30. You see the total you will actually pay. You see the tax bill waiting at forgiveness. That is the part everyone forgets.

A plan with a tiny monthly payment and a $12,000 tax surprise at year 20 is not the cheap plan. The workbook adds it all up into one true-cost number per plan. Then it tells you the winner.

Everything runs on live formulas. Change your income, add a loan, or flip to PSLF-eligible. Every tab recalculates instantly.

### What you get

- The **US Student-Loan Repayment Plan Comparator 2026** workbook (.xlsx). Demo data is pre-filled so you can see exactly how it works before you touch it.
- A 1-page **2026 Decision Flowchart** (PDF). "Which Student-Loan Plan Fits You?" Five quick decision diamonds point you at the right plan in minutes.
- Works in Microsoft Excel and Google Sheets (compatibility verified October 2026).

### What's inside the workbook (7 tabs)

- **Cover**: how-to-use walkthrough, plain-English summaries of the three plans, and the 2026 forgiveness-tax warning.
- **Loan Inputs**: list up to 8 of your own federal loans (balance, rate, disbursement date, type). The sheet flags which ones qualify for income-driven plans. It also flags whether you count as a new or existing borrower under the July 2026 rules.
- **Borrower Profile**: your AGI, income growth, family size, dependents, state, IBR borrower type, PSLF eligibility, and marginal tax rate.
- **Plan Comparison**: RAP vs IBR vs Tiered Standard, side by side. See year-1 monthly payment, lifetime payments, forgiveness year, balance forgiven, and the estimated tax on the forgiven balance. See the true cost (payments + tax). See how much to set aside each month from year 1 to cover that tax bill.
- **Amortization Engine**: the full year-by-year schedules behind the comparison, years 1-30. Payment, interest, principal, and remaining balance per plan.
- **Verdict**: the winner picked automatically on three metrics (lowest monthly payment, lowest lifetime payments, lowest true cost). A 30-year balance-trajectory chart lets you SEE the difference.
- **PSLF Path**: if you mark yourself PSLF-eligible, see your 120-payment path under RAP and IBR. See the balance forgiven and the $0 tax line. PSLF forgiveness stays tax-free under federal tax law (IRC §108(f)(1)).

### Who this is for

US federal student-loan borrowers (Direct Loans) choosing or re-evaluating a repayment plan under the 2026 rules.

This includes anyone on or considering income-driven repayment. It includes anyone who took out their first Direct Loan after July 1, 2026 (IBR is no longer an option for you). It includes anyone working toward PSLF who wants to compare the two qualifying paths.

Works for both single borrowers and families. Family size and dependents are modeled.

### What's NOT included (honest scope)

- **US federal Direct Loans only.** Private, FFEL, and Perkins loans cannot access income-driven plans directly. The sheet flags this and notes the consolidation route. It does not model consolidation math.
- **Planning estimates, not tax or legal advice.** The tax-on-forgiveness figure uses your flat marginal rate. Real 2026 tax brackets are progressive, and state taxes may add more. Your servicer's figures decide your actual payments. Verify with your servicer and a student-loan or tax professional before acting.
- **2026 rules only.** The plan formulas follow the federal rules in effect for 2026. Future law changes are not covered.

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Try the live view-only demo:
https://docs.google.com/spreadsheets/d/1H999Yhh9aap7mZB14PQeJs3Vk47PhjWcg4O_W9SO3xg/view

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### About Kollaz

Smart financial tools for modern money.

Browse the full store: https://www.etsy.com/shop/kollaz

Q&A

Q: What does it compare?
A: RAP vs IBR vs Tiered Standard side by side. Year-1 monthly payment, lifetime payments, forgiveness year, balance forgiven, estimated tax on the forgiven balance, and true cost (payments + tax). A Verdict tab picks the winner on three metrics.

Q: How does the amortization engine work?
A: Full year-by-year schedules for years 1-30. Payment, interest, principal, and remaining balance per plan. All on live formulas that recalculate instantly when you change inputs.

Q: What about forgiveness tax?
A: The tax break on forgiven debt expired Dec 31, 2025. Forgiven balances are taxable income again in 2026. The workbook computes the estimated tax and shows how much to set aside monthly from year 1. (PSLF forgiveness stays tax-free under IRC §108(f)(1).)

Q: Which loans does it cover?
A: US federal Direct Loans only. List up to 8 of your own federal loans. Private, FFEL, and Perkins loans cannot access income-driven plans directly.

MINI-FAQ

Q: Is this tax advice?
A: No. Planning estimates, not tax or legal advice. Verify with your servicer and a professional before acting.

Q: IBR for newer borrowers?
A: IBR is off the table if you took out your first Direct Loan after July 1, 2026. The sheet flags new vs. existing borrower status.

Q: Do I need spreadsheet skills?
A: No. Demo data is pre-filled. Change your income, add a loan, or flip to PSLF-eligible and every tab recalculates.

Q: Can I try it first?
A: Yes. There is a live view-only demo link in this description.

SPECS

Format: 7-tab Excel .xlsx workbook (demo data pre-filled) + 1-page 2026 Decision Flowchart PDF
Compatibility: Microsoft Excel and Google Sheets (compatibility verified October 2026)
Region: US federal Direct Loans only (2026 rules)
Maker: Kollaz. Smart financial tools for modern money
Delivery: Instant digital download