PAYE - at a firm (calculations)

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
whitecollar23
Posts: 416
Joined: Thu Sep 11, 2014 12:27 pm

PAYE - at a firm (calculations)

Postby whitecollar23 » Mon Jul 31, 2017 9:03 pm

Any experts on the different repayment plans able to field a few questions for me about how much my loan payments are going to be this coming year? Or can point me in the right direction? Would the reps at myfedloan know the answers to such questions?

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studentloanplanner
Posts: 36
Joined: Thu Dec 22, 2016 6:01 pm

Re: PAYE - at a firm (calculations)

Postby studentloanplanner » Mon Sep 11, 2017 11:44 pm

Look at your tax return for the prior year (household if you have a spouse).

Then look up the Federal Poverty line at HHS.gov. Then multiply by 1.5.

Take the difference between your AGI and what you made, then multiply by 0.1 and then divide by 12.

That'll be your PAYE payment.

I built a calculator that can show this, not sure if it's allowed by forum rules to post but if it is I will.




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