Public Service Loan Forgiveness Calculator
PSLF Forgiveness Estimate
Estimate your potential PSLF forgiveness amount
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Formula
Simulate 120 payments under IDR (10% discretionary income). Forgiveness = Remaining balance after 120 payments.
Frequently Asked Questions
What is Public Service Loan Forgiveness?
PSLF forgives the remaining balance on Direct Loans after 120 qualifying monthly payments (10 years) while working full-time for a qualifying employer such as government agencies, nonprofits, or certain public service organizations.
Who qualifies for PSLF?
You must have Direct Loans (or consolidate into Direct Loans), be on an income-driven repayment plan, work full-time for a qualifying public service employer, and make 120 qualifying monthly payments.
Is PSLF forgiveness taxable?
No. Unlike IDR forgiveness, PSLF forgiveness is always tax-free under current law. This makes PSLF especially valuable for borrowers with large balances who work in public service.
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