Guideline answers · Fannie Mae
Fannie Mae · Debts
How does Fannie Mae calculate a student loan payment for DTI?
Use the payment on the credit report, or the one on the latest student loan statement if the report is wrong. If the report shows no payment or $0, a documented $0 income-driven payment can be qualified at $0, and a deferred loan or one in forbearance is qualified at 1% of the balance or a fully amortizing payment on its documented terms.
Checked against the sources below on October 29, 2026. Reviewed by Chris Black, NMLS 275073, on November 2, 2026.
The rules
- Payment on the credit report: the lender may use it.
- Credit report payment is wrong: the lender may use the payment on the most recent student loan statement.
- No payment or $0 on the credit report: the lender must determine the qualifying payment with one of the two options below.
- Income-driven repayment plan: document that the actual monthly payment is $0, then qualify at $0.
- Deferred or in forbearance: 1% of the outstanding balance, even when that is lower than the fully amortizing payment, or a fully amortizing payment using the documented repayment terms.
Watch for
- This is Fannie Mae only. FHA, VA and Freddie Mac each use a different student loan rule, so check which program the file is going to.
- Lenders can overlay the $0 income-driven option. Confirm yours accepts it before you structure the file around it.
Sources
Fannie Mae Selling Guide, B3-6-05 Monthly Debt Obligations
For deferred loans or loans in forbearance, the lender may calculate a payment equal to 1% of the outstanding student loan balance (even if this amount is lower than the actual fully amortizing payment)
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