PSLF Calculator (Public Service Loan Forgiveness)

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

Monthly Payment

$311.75

Payments Remaining

120 of 120

Estimated Forgiveness

$130,850.29

PSLF Payment Details

Federal Poverty Line (family size)$15,060.00
150% of Poverty Line$22,590.00
Discretionary Income$37,410.00
PAYE Monthly Payment$311.75
Annual Payment$3,741.00

Forgiveness Timeline

Total Qualifying Payments Required120 payments (10 years)
Payments Already Made0
Payments Remaining120
Months Until Forgiveness120 months
Total Paid Before Forgiveness$37,410.00
Estimated Amount Forgiven$130,850.29
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

Our PSLF Calculator helps you visualize your path to Public Service Loan Forgiveness, a program designed to reduce the burden of student loan debt for those working in public service. With this tool, you can estimate your remaining payments, the potential forgiveness amount, and your total out-of-pocket cost, giving you clarity on your financial future. As of 2026, the eligibility criteria and payment counting methods remain consistent, requiring 120 qualifying payments while working full-time for an eligible employer.

This calculator determines your PSLF eligibility by first identifying your current loan balance, interest rate, and current payment plan. It then projects your future payments based on your income and family size, accounting for potential income-driven repayment (IDR) plan adjustments. The calculator then subtracts the projected 120 qualifying payments from your total loan obligation to estimate the forgivable amount; any remaining balance after 120 payments, assuming all other criteria are met, is forgiven tax-free.

A common mistake is not consolidating Federal Family Education Loans (FFEL) or Perkins Loans into a Direct Consolidation Loan, as only Direct Loans are eligible for PSLF. Ensure you are on a qualifying income-driven repayment plan (ICR, IBR, PAYE, REPAYE) and that your employer is certified as eligible for public service. Remember to submit an Employment Certification Form (ECF) annually, or whenever you change employers, to track your progress accurately and avoid delays.

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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