Public Service Loan Forgiveness Projection Tool
Accurately estimate when your federal student loans qualify for full forgiveness.
Step 1 – Loan & Employer Details
Step 2 – Income & Timing Assumptions
Step 3 – Extra Payment Options
How It Works
PSLF requires 120 on-time monthly payments under a qualifying repayment plan while employed full-time by a qualifying public service employer.
The tool calculates your monthly payment based on a percentage of your discretionary income. Discretionary income is your AGI minus a percentage of the Federal Poverty Level (FPL) based on your family size and repayment plan.
Once 120 qualifying payments are made, the remaining principal and interest are forgiven. The tool projects this amount and the year you will achieve it.
The calculator compares the total amount paid under your IDR plan (before forgiveness) to what you would pay under a 10-year standard plan to show your potential savings.
FAQs
You need 120 qualifying monthly payments while working for a qualifying public service employer.
Yes, USPS employees are considered public service employees and are eligible for PSLF, provided they meet all other requirements.
Under current federal law, PSLF forgiveness is not considered taxable income at the federal level. State tax laws may vary.
Yes, you can switch to a qualifying plan (SAVE, PAYE, IBR, ICR) and past payments may count toward the 120, as long as you were in eligible employment.