Stafford Loan Forgiveness Estimator
Estimate your forgiveness timeline and potential savings.
Step 1 – Interactive Input Prompt
Loan & Repayment Info
Employment Info (optional)
Optional Extras
How It Works: Formulas & Logic
Monthly IDR Payment
$Payment = \text{Discretionary Income} \times \text{Plan Percent} \div 12$
$\text{Discretionary Income} = \text{AGI} - (150\% \text{ FPL per household size})$
Payments can be $0 if income falls below the threshold. Forgiveness applies after 20 or 25 years.
Teacher Loan Forgiveness
Eligible teachers can receive: $5,000 for elementary/secondary teachers, or $17,500 for “highly qualified” STEM or special-ed teachers, after 5 full, consecutive academic years at Title I low-income schools.
PSLF Timeline
After 120 qualifying monthly payments, the remaining Stafford Loan balance is fully forgiven (tax-free).
Why This Tool Works
Supports all Stafford Loan forgiveness paths in one interface: IDR, PSLF, and Teacher Forgiveness.
Identifies which path gives you the greater benefit.
Visual forecasts help users understand long-term timelines and savings.
Parameters match official Federal Student Aid rules for accuracy.
Sources & Additional Guidance
Public Service Loan Forgiveness: 120 required payments while employed at qualifying employers.
Teacher Loan Forgiveness: up to $17,500 for teachers meeting a 5-year teaching requirement.
Income‑Driven Repayment (IDR): forgiveness after 20-25 years of qualifying payments.