Public Service Loan Forgiveness Calculator

The Public Service Loan Forgiveness Calculator shows you where you stand on the path to federal student loan forgiveness. It estimates how many qualifying payments you’ve made, how many are left, what you’ll pay, and how much you’ll save if you stay on track.

This tool cuts through the noise, helping you see your progress, avoid mistakes, and protect your path to forgiveness. Recent changes under the Biden administration expanded eligibility, but with legal challenges and a new administration ahead, staying informed is more important than ever.

Use the PSLF Calculator to take control of your student loans and plan your next steps.

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Years in Public Service: 5

How the PSLF Calculator Works

The PSLF Calculator bridges the gap between what the Education Department’s tools provide and what you really need to know. While StudentAid.gov tracks your qualifying payments toward the PSLF Program, it doesn’t show how much you’ll pay each month or over time until you reach forgiveness. And the Education Department’s Loan Simulator doesn’t account for the number of qualifying payments you’ve already made.

That’s where this tool comes in. By combining the qualifying payments you’ve tracked with other key details, the calculator helps you:

  • Estimate your monthly payments based on your repayment plan.

  • Project your total loan payments until forgiveness.

  • See your potential savings under different scenarios.

Here’s what you need to use the calculator effectively:

  1. Your loan details from StudentAid.gov or your loan servicer.

  2. Your current repayment plan and income information.

Whether you’re planning your next move or just need clarity on what lies ahead, this tool helps you stay informed and in control of your financial future.

Related: What is a Qualifying Payment for PSLF?

What You’ll Need for the PSLF Calculator

The PSLF Calculator gives you accurate results based on the details you provide. To keep things simple, we’ve organized the inputs into three categories.

1. Loan Details

What to enter:

  • Loan Balance: How much you owe on your federal student loans. This calculates your monthly payments and total repayment amounts.

  • Average Interest Rate: The average rate on your loans. This estimates how much interest you’ll pay over time.

  • Monthly Payment: What you’re currently paying each month. This lets the calculator compare your plan to options like SAVE, IBR, and PAYE.

2. Income & Household Details

What to enter:

  • State of Residence: Your state. Tax laws here affect how your discretionary income is calculated.

  • Tax Filing Status: Choose “Single,” “Married Filing Jointly,” or “Married Filing Separately.” This determines how your income counts for IDR plans.

  • Family Size: The number of people in your household, including yourself. Larger households reduce discretionary income, which lowers your payments.

  • Annual Income: Your yearly income before taxes. This determines your discretionary income and monthly payment under IDR plans.

  • Average Annual Growth: Your expected income growth (e.g., 3%). This projects future payments based on raises or promotions.

3. Repayment History

What to enter:

  • Years in Public Service: How long you’ve worked for a qualifying employer. This estimates your progress toward the 10-year (120 payments) forgiveness requirement.

  • Qualifying Payments: How many qualifying payments you’ve made so far. This calculates how many payments you have left.

Eligibility

Not sure if you qualify for PSLF? Here’s a breakdown of the four key requirements:

  1. Work full-time for a qualifying employer, such as a government agency, a 501(c)(3) nonprofit, or certain private nonprofits that provide public services. Jobs at for-profit companies, labor unions, and political organizations don’t count.

  2. Have qualifying loans. Only federal Direct Loans are eligible. FFEL and Perkins Loans must be consolidated into a Direct Consolidation Loan, and private loans don’t qualify.

  3. Make payments under a qualifying repayment plan, such as income-driven plans (SAVE, IBR, PAYE, ICR) or the 10-Year Standard Repayment Plan.

  4. Make 120 on-time payments while working for a qualifying employer. Payments during deferment or forbearance don’t count—except for COVID-19 relief periods.

Related: What Employers Qualify for PSLF?

FAQs

How many years are 120 payments?

120 payments equal 10 years of monthly payments. These payments don’t need to be consecutive but must be made while working full-time for a qualifying employer under an eligible repayment plan. Breaks in service or switching jobs don’t disqualify previous payments if the program’s requirements are met.

Which student loan repayment plans are eligible for Public Service Loan Forgiveness?

PSLF requires income-driven repayment plans like SAVE, IBR, PAYE, or ICR, or the 10-Year Standard Plan. Payments on other plans don’t count. If you’re not on an eligible plan, switching immediately is essential to ensure your payments qualify toward forgiveness.

How far back does Public Service Loan Forgiveness go?

PSLF applies to payments made since October 1, 2007. Retroactive adjustments, like the one-time account adjustment, may count older periods of repayment, forbearance, or deferment if you meet the program’s requirements, giving borrowers credit for previously ineligible payments.

Can I use a Public Service Loan Forgiveness calculator to estimate my remaining payments?

Not exactly. The calculator estimates your monthly payments, total payments until forgiveness, and potential savings. But it doesn’t track how many qualifying payments you’ve already made—that information is maintained by the Department of Education on StudentAid.gov.

How do I estimate my potential savings with the Public Service Loan Forgiveness calculator?

The calculator compares your current repayment plan with income-driven plans like SAVE, PAYE, and IBR. It shows your monthly payment, total repayment cost, and how much you could save by switching plans while pursuing forgiveness under the PSLF program.

How much of my loan will be forgiven with PSLF?

The forgiven amount is the remaining loan balance after you make 120 qualifying payments. The exact amount varies based on your balance, interest rate, and repayment progress, but many borrowers see significant relief, especially if they used income-driven repayment plans with low monthly payments.

Who manages the PSLF Program?

The Department of Education manages PSLF through StudentAid.gov. Previously, servicers like FedLoan and MOHELA handled PSLF, but as of May 2024, the Department directly oversees the program to improve tracking, transparency, and borrower satisfaction.

What’s Happening with PSLF?

The Public Service Loan Forgiveness program has made big strides. Once infamous for its 99% denial rate, it’s now delivering real relief. Under Biden, nearly $180 billion in student debt has been forgiven for 4.9 million borrowers, including thousands of public service workers.

But big changes may be ahead.

President-elect Trump’s team has suggested rolling back key forgiveness policies, including the SAVE Plan and expanded PSLF rules. These changes face operational hurdles and lawsuits, but borrowers should prepare for uncertainty.

Staying informed is critical. Use the PSLF Calculator to track your progress, protect your path to forgiveness, and plan for what’s next.

A Note About Calculator Estimates

Federal student loans are complicated—more than any car loan or mortgage. Unlike fixed-term loans, federal loans can change significantly over time due to deferments, consolidations, payment pauses, or shifts between repayment plans. For borrowers pursuing Public Service Loan Forgiveness, tracking your progress adds another layer of complexity.

Our PSLF Calculator is designed to estimate your monthly payment, total payments, and potential savings while working toward forgiveness. It helps you understand where you stand, but keep in mind that repayment changes can affect your overall costs and timelines.

For a detailed breakdown of repayment options, including your qualifying payment count for PSLF, visit the Federal Student Aid website at StudentAid.gov. Their Loan Simulator provides a more comprehensive view of repayment plans and forgiveness eligibility.

Use the PSLF Calculator to see where you’re headed, then explore the Loan Simulator for a deeper dive into your repayment options.

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