Washington Student Loan Repayment Calculator
Calculate student loan payments in Washington. Compare standard, IDR, and forgiveness plans. See total cost with no state income tax.
How This Calculator Works
Calculation methodology and assumptions
Student loan repayment calculator for Washington residents. Standard repayment uses fixed amortization. Income-Driven Repayment (IDR) estimate is 10% of discretionary income (income above 225% of federal poverty level). Washington has no state income tax, so student loan interest deductions only apply federally. Federal student loan interest deduction: up to $2,500/year if income qualifies.
Key State Information
Washington student loan facts: Median income $82,228 | Cost of living index: 110.7 | No state income tax — more income available for loan payments. Average student debt nationally: ~$37,000.
Frequently Asked Questions
What are student loan repayment options in Washington?
Washington residents can use federal repayment plans: Standard (10 years fixed), Graduated, Extended, and Income-Driven (SAVE, PAYE, IBR, ICR). Since Washington has no state income tax, more of your income is available for loan payments. PSLF is available for qualifying public service workers after 120 payments.
How much is the average student loan payment in Washington?
Based on the national average debt of $37,000 at 5.5% interest, the standard monthly payment is about $401/month over 10 years. In Washington, with a median income of $82,228, this represents about 6% of median household income.
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