Student Loan Forgiveness Calculator

Check PSLF eligibility, compare income-driven repayment plans, and estimate how much of your federal student loan balance could be forgiven.

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PSLF Eligibility Status
PSLF Eligible
84 payments remaining (~7.0 years)
Est. PSLF Forgiveness
$39,037
Payments Already Made
$10,800
Est. IDR Forgiveness (20yr)
$24,124

How Student Loan Forgiveness Works

Federal student loan forgiveness comes primarily through two pathways: Public Service Loan Forgiveness (PSLF) and Income-Driven Repayment (IDR) forgiveness.

PSLF: 120 qualifying payments = 10 years → remaining balance forgiven tax-free IDR: 20–25 years of payments → remaining balance forgiven (may be taxable)

PSLF is the more valuable program for borrowers with high loan balances relative to their income, especially those in government or nonprofit careers. IDR forgiveness benefits those in private sector careers who carry balances they cannot repay within 20–25 years on their income.

Advanced IDR Plan Comparison & PSLF Timeline SAVE / PAYE / IBR / ICR breakdown with presets
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PlanMonthly PaymentForgive YearAmount ForgivenTotal Paid
SAVE$92Year 20$101,140$18,866
PAYE$185Year 20$66,819$37,731
IBR (new)$185Year 20$66,819$37,731
IBR (old)$277Year 25$25,331$73,244
ICR$370Year 25$0$73,983

Click a row to select plan. Based on current balance $45,000 at 6.5% average interest.

Choosing the Right Repayment Plan

Your optimal repayment plan depends on your income, loan balance, employment type, and long-term career plans. For PSLF-bound borrowers, the goal is to minimize payments (use SAVE) because the forgiven amount grows the less you pay. For private-sector borrowers, the math often favors aggressive repayment over 20-year IDR to avoid a large tax bill.

Example — Teacher earning $42,000 with $25,000 in loans:

Under SAVE: ~$75/month. After 120 payments (~$9,000 total) the remaining ~$18,000 is forgiven tax-free via PSLF. Total outlay: $9,000 vs. the original $25,000 balance.

Professional Full Loan Portfolio Tracker Multiple loans, career ROI, consolidation & tax analysis
Loan Portfolio
Total: $75,000 | Monthly: $875
Loan NameBalanceRate %Monthly PmtType
Considering loan consolidation

Frequently Asked Questions

PSLF forgives remaining federal student loan balances after 120 qualifying monthly payments (10 years) while working full-time for a qualifying employer — government agencies, 501(c)(3) nonprofits, and certain other public service organizations. Forgiven amounts under PSLF are not counted as taxable income.
All are income-driven repayment (IDR) plans that cap monthly payments at a percentage of discretionary income. SAVE (newest, 5% of discretionary), PAYE and IBR new (10%), IBR old (15%), and ICR (20%). Forgiveness occurs at 20 or 25 years depending on the plan. SAVE offers the lowest payments for most borrowers.
PSLF forgiveness is permanently tax-free. IDR forgiveness (at 20 or 25 years) was temporarily tax-free under the American Rescue Plan through 2025, but this exemption may not be extended. You could owe income tax on the forgiven amount as ordinary income in the year of forgiveness.
Loan consolidation creates a new loan, which can reset your PSLF qualifying payment count to zero — a significant risk if you're partway through 120 payments. However, the IDR Account Adjustment (if extended) may credit prior payments. Always consult studentaid.gov before consolidating.
A qualifying payment must be made on a Direct Loan (or Direct Consolidation Loan), under an income-driven repayment plan, for the full amount due, no later than 15 days after the due date, while working full-time for a qualifying employer. Payments made during deferment or forbearance generally do not count, with some exceptions.

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