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Public Service Loan Forgiveness Calculator
Find out when your 120th qualifying payment lands and roughly how much Public Service Loan Forgiveness will wipe out. Enter your balance, rate and payment count, then use your actual income-driven payment or let the calculator estimate it under IBR or the new Repayment Assistance Plan (RAP).
Last updated:
Your loans & progress
$
Principal plus any unpaid interest
%
From your PSLF count on StudentAid.gov (0 to 120)
Monthly payment
Payment
$
Your current IDR bill ($0 payments still count)
$
From your latest tax return (joint AGI if married filing jointly)
You, spouse and dependents
Each lowers the RAP payment by $50/month
$
0 = 2025 HHS guideline for the 48 states ($15,650 + $5,500 per extra person)
%
Payments are recertified yearly as income changes
Enter your values to see the result.
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How to use the Public Service Loan Forgiveness Calculator
Enter your Direct Loan balance and rate from StudentAid.gov or your servicer.
Enter qualifying payments made (your PSLF count) and the date of your next payment.
Choose your payment: type your current bill, or estimate it from AGI under IBR or RAP.
Add an expected yearly raise so estimated payments rise when you recertify.
Press Calculate forgiveness to see the date, forgiven amount and year-by-year schedule.
How the PSLF estimate is calculated
Payments remaining = 120 − qualifying payments made. The 120th payment date = next payment date + (payments remaining − 1) months.
Monthly interest = balance × annual rate ÷ 12. Each payment covers interest first, then principal.
IBR payment = (AGI − 1.5 × poverty guideline) × 10% (or 15%) ÷ 12, capped at the 10-year standard payment.
RAP payment = AGI × band rate ÷ 12 − $50 × dependents, minimum $10; unpaid interest is waived and principal drops by at least $50 a month.
Forgiven amount = principal + unpaid interest left after the 120th payment.
Example: $75,000 at 6.5% with 36 payments made and a $280 payment. Interest is $406.25 a month, so the payment covers only interest, unpaid interest grows by $126.25 a month, and after 84 more payments ($23,520 paid) about $85,605 is forgiven in September 2033.
RAP payment bands
Adjusted gross income
Yearly payment
Example monthly (before dependent reduction)
$10,000 or less
$120 ($10/month minimum)
$10.00
$10,001 – $20,000
1% of AGI
$15,000 → $12.50
$20,001 – $30,000
2% of AGI
$25,000 → $41.67
$30,001 – $40,000
3% of AGI
$35,000 → $87.50
$40,001 – $50,000
4% of AGI
$45,000 → $150.00
$50,001 – $60,000
5% of AGI
$55,000 → $229.17
$60,001 – $70,000
6% of AGI
$65,000 → $325.00
$70,001 – $80,000
7% of AGI
$75,000 → $437.50
$80,001 – $90,000
8% of AGI
$85,000 → $566.67
$90,001 – $100,000
9% of AGI
$95,000 → $712.50
Over $100,000
10% of AGI
$120,000 → $1,000.00
Each dependent reduces the monthly RAP payment by $50, down to the $10 minimum.
Tips to protect your PSLF progress
Certify employment every year with the PSLF Help Tool so your count stays up to date.
Recertify income on time; a lapse can raise your payment or move you off a qualifying plan.
Consolidate older loans: FFEL and Perkins loans must be consolidated into a Direct Loan to qualify.
Don't pay extra if you expect forgiveness; extra payments only reduce what is forgiven and don't speed up the 120 count.
Keep records of employment and payment history in case of a count dispute.
Frequently asked questions
How does Public Service Loan Forgiveness work?
PSLF forgives the remaining balance on federal Direct Loans after you make 120 qualifying monthly payments while working full time for a qualifying employer, such as a government agency or a 501(c)(3) nonprofit. The payments do not need to be consecutive, and the forgiven amount is not taxed as federal income.
How do I calculate my PSLF forgiveness date?
Subtract your qualifying payment count from 120 to get payments remaining, then count that many months forward from your next payment. With 36 payments made and the next due in October 2026, 84 remain and the 120th falls in September 2033. Forgiveness is processed after you apply with an employer certification.
How much will PSLF forgive?
Whatever you still owe after the 120th payment, including principal and any unpaid interest. Lower income-driven payments mean more is forgiven. If your payments are high enough to pay the loan off first, nothing is left to forgive, and the calculator tells you so.
Which repayment plans qualify for PSLF?
Payments under income-driven plans and the 10-year standard plan qualify. Under the 2025 law, the Repayment Assistance Plan (RAP) opens on July 1, 2026 and counts for PSLF, alongside Income-Based Repayment (IBR). Plans such as SAVE, PAYE and ICR are being phased out, so check StudentAid.gov for your options.
How is the RAP payment calculated?
RAP charges 1% to 10% of adjusted gross income depending on the income band (1% from $10,001 to $20,000 rising one point per $10,000 to 10% above $100,000), divided by 12, minus $50 a month per dependent, with a $10 minimum. Interest the payment doesn't cover is waived, and the government matches principal so the balance drops at least $50 a month.
How is the IBR payment calculated?
IBR takes discretionary income, which is AGI minus 150% of the poverty guideline for your family size, and charges 10% (15% for borrowers with older loans) of it per year, split into 12 payments. The payment never exceeds what you would pay on the 10-year standard plan.
Do $0 payments count toward PSLF?
Yes. A $0 scheduled payment on an income-driven plan counts as a qualifying payment as long as you meet the employment requirement for that month.
Are all the tools on FreeToolCabin tested for quality and accuracy?
Yes! Every tool on our site undergoes automated Q/A testing in real browser environments to ensure high precision, correct output, and zero errors. If you happen to spot a bug or have a suggestion, please contact us at [email protected] and our team will review it right away.