About the PSLF Calculator
This PSLF calculator estimates how much of your federal Direct Loan balance Public Service Loan Forgiveness could cancel. Under PSLF, borrowers who work full-time for a qualifying employer — government at any level or a 501(c)(3) nonprofit — can have their remaining balance forgiven, tax-free under federal law, after 120 qualifying monthly payments made under a qualifying repayment plan.
Enter your balance, interest rate, income, family size and repayment plan. The calculator projects your income-driven payment year by year as your income grows, adds up everything you pay over the remaining qualifying payments, and shows the balance left to be forgiven. It is aimed at teachers, nurses, social workers, public defenders, military members and nonprofit staff deciding whether to pursue PSLF or pay the loan off faster.
IBR, PAYE and ICR payments use the 2026 HHS poverty guideline for the 48 contiguous states and DC ($15,960 plus $5,680 per extra household member), held constant — borrowers in Alaska and Hawaii have higher guidelines and slightly lower payments. Loans are treated as one combined balance with unpaid interest accruing but not capitalizing. Plan rules reflect the July 2025 federal law (Public Law 119-21): the Repayment Assistance Plan (RAP), open from July 1, 2026, is modeled with its 1%–10% of AGI payment, $50-per-dependent reduction, $10 minimum, interest waiver and $50 principal match; loans first disbursed on or after July 1, 2026 can use only RAP or a standard plan; and PAYE and ICR are being phased out by July 1, 2028. ICR is simplified to 20% of income above the guideline (the official payment can be lower). Check your actual payment with your servicer.
With the default inputs, the estimated amount forgiven is $59,888.46. Change any value above to recalculate instantly.
How to use the pslf calculator
- 1Enter your total federal Direct Loan balance and weighted average rate.
- 2Enter your adjusted gross income and family size.
- 3Choose the income-driven plan you are on or considering.
- 4Enter any qualifying payments you have already made.
- 5Review the forgiveness estimate and year-by-year payments.
Formula and method
Income-driven payments are a share of discretionary income: your adjusted gross income minus a multiple of the federal poverty guideline for your family size. IBR and PAYE use 150% of the guideline, and 10% (or 15% for IBR borrowers with loans before July 2014) of the difference; ICR uses 100% of the guideline and 20%. IBR and PAYE payments never exceed the 10-year Standard payment; this calculator uses the Standard payment on the balance you enter as that cap. ICR is simplified to the 20% formula — the official ICR payment is the lesser of that and a 12-year income-adjusted payment, so your actual ICR payment may be lower. RAP ignores the poverty guideline: it charges a percentage p of total AGI (1% for $10,001–$20,000, rising one point per $10,000 band to 10% above $100,000), less $50 a month per dependent, with a $10 minimum.
The calculator recalculates the payment each year as your income rises, accrues interest monthly on the principal, applies each payment to interest first and then principal, and lets unpaid interest accrue without capitalizing. Under RAP, interest a payment does not cover is waived and principal is reduced by at least $50 (or the payment, if smaller) each month. Whatever is left after the remaining qualifying payments is the estimated forgiveness. The 10-year Standard plan qualifies for PSLF but normally leaves nothing to forgive.
- AGI
- Adjusted gross income from your tax return
- share
- 10%, 15% or 20% depending on the plan
- multiplier
- 1.5 for IBR and PAYE, 1.0 for ICR
- poverty guideline
- HHS guideline for your family size (2026: $15,960 + $5,680 per extra person)
- p
- RAP percentage of AGI (1%–10%) by income band
Worked examples
$60,000 at 6.5%, $55,000 AGI, single, IBR (new borrower)
Discretionary income is $55,000 − 1.5 × $15,960 = $31,060; 10% of that is $3,106 a year, or $258.83 a month. With 3% raises you pay about $39,111 over ten years, and roughly $59,888 is forgiven — about $42,643 less than the 10-year Standard plan would cost.
$120,000 at 7%, $65,000 AGI, family of 3, PAYE, 36 payments made
For a household of three the 2026 guideline is $27,320, so the PAYE payment starts at 10% × ($65,000 − $40,980) ÷ 12 = $200.17. That is below the monthly interest, so the balance grows; after 84 more payments totalling about $21,120, around $157,680 would be forgiven.
RAP with two dependents: $80,000 at 6.5%, $45,000 AGI
RAP charges 4% of AGI in the $40,001–$50,000 band: $45,000 × 4% ÷ 12 = $150, less $50 for each of two dependents = $50 a month. Every payment in this example goes to interest, so the rest of the interest is waived and the government reduces principal by $50 each month. After 120 payments (about $11,911 paid as income rises 3% a year) the balance is $80,000 − 120 × $50 = $74,000, which PSLF forgives.
High earner on older IBR: nothing left to forgive
At $90,000 AGI the 15% IBR payment would exceed the 10-year Standard payment, so it is capped at $434.11 — which repays the loan in exactly ten years. PSLF forgives nothing; it still protects you if your income later falls.
Frequently asked questions
Who qualifies for Public Service Loan Forgiveness?+
You must have federal Direct Loans (or consolidate into one), work full-time for a US federal, state, local or tribal government organization or a 501(c)(3) nonprofit, and make 120 qualifying monthly payments under a qualifying repayment plan while employed there.
Is PSLF forgiveness taxable?+
No. Amounts forgiven under PSLF are excluded from federal taxable income. Most states follow the federal treatment, but check your state’s rules.
Do the 120 payments have to be consecutive?+
No. Qualifying payments do not need to be consecutive, so a break in qualifying employment pauses your progress but does not reset it. Use the PSLF Help Tool to certify employment regularly.
Which repayment plan is best for PSLF?+
Usually the income-driven plan with the lowest payment you are eligible for, because a lower payment means more is forgiven. The 10-year Standard plan qualifies but normally leaves no balance to forgive.
Does the Repayment Assistance Plan (RAP) qualify for PSLF?+
Yes. RAP, created by the July 2025 federal budget law and available from July 1, 2026, counts for PSLF: the law adds on-time RAP payments to the list of qualifying payments. Its payment is 1%–10% of total AGI less $50 a month per dependent, rather than a share of discretionary income, and this calculator models it when you choose RAP.
Can I still choose PAYE or ICR?+
Under the July 2025 law, PAYE and ICR are being phased out and borrowers on them must move to another plan such as IBR or RAP by July 1, 2028. Loans first disbursed on or after July 1, 2026 can use only RAP or the new standard plan. IBR remains available to existing borrowers.
What counts as family size?+
Family size generally includes you, your spouse (in most cases) and children or other dependents who receive more than half their support from you. A larger family raises the poverty guideline and lowers your payment.
Results are estimates for educational purposes and are not financial advice. Rates, fees and terms vary — confirm with your lender or a licensed advisor before making decisions.