Finance tool

Public Service Loan Forgiveness (PSLF) Calculator

Calculate projected tax-free forgiveness and total repayment costs under Public Service Loan Forgiveness.

All tools

About Public Service Loan Forgiveness (PSLF)

PSLF forgives remaining federal Direct Loan balances tax-free after making 120 qualifying monthly payments under an accepted IDR plan while working full-time for a qualifying employer.

Frequently Asked Questions

What employers qualify for PSLF?

Full-time employment with 501(c)(3) non-profit organizations or government entities at any level qualifies.

Is PSLF forgiveness taxable?

No, loan balances forgiven through PSLF are exempt from federal income taxation.

Do all federal loans qualify?

Only Direct Loans qualify. Older FFEL or Perkins loans must be consolidated into a Direct Consolidation Loan.

How many payments are required?

Exactly 120 on-time, qualifying monthly payments under an approved income-driven repayment plan.

How to use

Calculate in three steps

  1. 1
    Enter your valuesUse the fields above and check the units shown beside each input.
  2. 2
    Run the calculationSelect Calculate to refresh the result with your latest values.
  3. 3
    Review or shareCompare the result, reset the form, print it, or share this page.
Inputs

What you need

Total Federal Debt Balance$
Current Qualifying Payments Madepayments
Average IDR Monthly Payment$
Keep exploring
View all
Finance Medical Debt Repayment Calculator Calculate monthly EMI, interest, and payoff schedules for medical loans and hospital bill financing in India.
Finance Medical Debt Extra Payments Calculator Calculate how much interest and tenure you save by paying extra principal each month toward medical debt.
Finance Credit Card Minimum Payoff Calculator Calculate the true cost and payoff time of paying only the 5% Minimum Amount Due (MAD) on Indian credit cards.