Pslf Calculator
pslf calculator. Get instant, accurate results. Enter values for instant results with step-by-step formulas.
Reviewed by Sahil, Senior Finance & Tax Editor
Formula
IDR Payment = 10% x (AGI - 150% x Poverty Line) / 12 | Forgiveness after 120 payments
PSLF forgives remaining federal student loan balance after 120 qualifying monthly payments (10 years) while working full-time for a qualifying public service employer. Payments are based on income-driven repayment (IDR) plans.
Worked Examples
Example 1: $80K at $55K salary
Problem:$80K loans, 5.5%, AGI $55K, single
Solution:IDR payment: ~$227/mo. After 120 payments, ~$52K forgiven.
Result:~$52K forgiven tax-free
Frequently Asked Questions
What is Public Service Loan Forgiveness (PSLF)?
PSLF forgives remaining federal loan balances after 120 qualifying monthly payments while working full-time for a government or nonprofit employer. The forgiven amount is not taxable. Only Direct Loans qualify.
Reviewed by Sahil, Senior Finance & Tax Editor · Editorial policy