PSLF Calculator (Public Service Loan Forgiveness)

Track progress toward Public Service Loan Forgiveness. See payments remaining, forgiveness amount, and total cost.

By Konstantin Iakovlev · Updated April 2026 · Source: FSA

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$
%

Monthly Payment

$300.50

Payments Remaining

120 of 120

Estimated Forgiveness

$132,693.93

PSLF Payment Details

Federal Poverty Line (family size)$15,960.00
150% of Poverty Line$23,940.00
Discretionary Income$36,060.00
PAYE Monthly Payment$300.50
Annual Payment$3,606.00

Forgiveness Timeline

Total Qualifying Payments Required120 payments (10 years)
Payments Already Made0
Payments Remaining120
Months Until Forgiveness120 months
Total Paid Before Forgiveness$36,060.00
Estimated Amount Forgiven$132,693.93
Tax StatusPSLF forgiveness is tax-free

Use the PSLF Calculator (Public Service Loan Forgiveness) above to calculate your results. Enter your values and see instant results — all calculations run in your browser.

Disclaimer: This calculator is for informational purposes only and does not constitute tax, financial, or legal advice. Results are estimates based on the information you provide and current rates. Always consult a qualified tax professional or financial advisor for advice specific to your situation.

How It Works

Public Service Loan Forgiveness exists to wipe out remaining student debt for people who spend their careers in public service, and this tool maps the route there. It estimates how many payments you have left, how much could ultimately be forgiven, and what comes out of your pocket along the way. As of 2026, the rules hold steady: 120 qualifying payments while you work full-time for an eligible employer.

The projection begins with your current balance, interest rate, and repayment plan. It forecasts future payments from your income and family size, factoring in adjustments tied to income-driven repayment (IDR) plans. Subtracting the projected 120 qualifying payments from your total obligation yields the forgivable amount, and any balance still standing after payment 120, provided every other requirement is satisfied, is forgiven tax-free.

Eligibility hinges on details that are easy to get wrong. Federal Family Education Loans (FFEL) and Perkins Loans qualify only after they are folded into a Direct Consolidation Loan, since PSLF covers Direct Loans alone. You also need to be on a qualifying income-driven plan such as ICR, IBR, PAYE, or REPAYE, with an employer certified as eligible public service. File an Employment Certification Form (ECF) every year and again each time you change jobs, which keeps your payment count accurate and heads off disputes later.

Example: Sarah's PSLF Journey

  1. 1 Sarah has a $60,000 Direct Subsidized Loan at 5% interest, making $500 monthly payments. She has already made 30 qualifying payments and works for a non-profit. Her current income is $60,000, and she is single.
  2. 2 The calculator projects Sarah will make 90 more payments. Based on her income and payment plan, her average monthly payment will be $450. Over these 90 payments, she will pay an additional $40,500.
  3. 3 After 90 more payments, Sarah will have paid a total of $55,500 ($15,000 already paid + $40,500 remaining). The remaining principal and accrued interest, estimated to be $32,000, will be forgiven.
  4. 4 This means Sarah saves $32,000 in student loan debt by fulfilling her commitment to public service. Her total out-of-pocket cost for her $60,000 loan will be $55,500, significantly less than paying the full amount plus interest.

Source: FSA · Last updated: April 2026

Frequently Asked Questions

How does Public Service Loan Forgiveness work?
After making 120 qualifying monthly payments (10 years) on an income-driven repayment plan while working full-time for a qualifying employer (government or nonprofit), your remaining federal loan balance is forgiven tax-free.
What employers qualify for PSLF?
Federal, state, local, and tribal government organizations, 501(c)(3) nonprofits, and certain other nonprofits providing qualifying public services. Private companies and for-profit organizations do not qualify.
Is the PSLF forgiveness amount taxable?
No. Unlike other loan forgiveness programs, PSLF forgiveness is not treated as taxable income. The forgiven amount does not increase your tax bill for the year of forgiveness.

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