Student Loan Forgiveness Calculator
Estimate your savings from Public Service Loan Forgiveness (PSLF) or income-driven repayment forgiveness.
Compare repayment strategies.
Forgiveness Estimate
Public Service Loan Forgiveness (PSLF):
After 120 qualifying monthly payments (10 years) while working for a qualifying employer (government or nonprofit), the remaining balance is forgiven tax-free.
Income-Driven Repayment (IDR) Forgiveness:
After 20 or 25 years of income-driven payments, the remaining balance is forgiven. The forgiven amount may be taxable income.
IDR Payment Plans:
- SAVE/REPAYE: 10% of discretionary income, 20-25 year forgiveness
- PAYE: 10% of discretionary income, 20 year forgiveness
- IBR: 15% of discretionary income, 25 year forgiveness
Discretionary income = AGI minus 150% of the federal poverty guideline for your family size.
Key question: Will you pay less through forgiveness than by paying off the loan normally?