Як розрахувати Student Loan Forgiveness
Що таке Student Loan Forgiveness?
A student loan forgiveness calculator estimates whether you qualify for loan forgiveness under Public Service Loan Forgiveness (PSLF), income-driven repayment (IDR) forgiveness, or other programs, and how much you would save compared to standard repayment.
Формула
Forgiveness Amount = Original Loan Balance + Accrued Interest – Total Payments Made Over Qualifying Period
- LB
- Loan Balance ($) — Total federal student loan balance
- AGI
- Adjusted Gross Income ($/year) — Annual income used for IDR calculation
- n
- Qualifying Payments (months) — 120 for PSLF, 240–300 for IDR forgiveness
Покрокова інструкція
- 1Determine your loan type (Direct Loans qualify for PSLF; FFEL loans may need consolidation)
- 2Identify your repayment plan (SAVE, PAYE, IBR, ICR for IDR forgiveness)
- 3For PSLF: Make 120 qualifying payments while working for an eligible employer
- 4For IDR forgiveness: Make payments for 20–25 years depending on the plan
Розв'язані приклади
Введення
$80,000 loans, $45,000 salary, PSLF path, SAVE plan
Результат
Payments ~$150/mo for 10 years = $18,000 paid. ~$62,000 forgiven tax-free
Введення
$50,000 loans, $40,000 salary, IDR 20-year path
Результат
Payments ~$120/mo for 20 years = ~$28,800 paid. Remaining balance forgiven (may be taxable)
Поширені помилки
- ✕Not certifying employment annually for PSLF (ECF form)
- ✕Being on the wrong repayment plan (standard 10-year does not qualify for PSLF)
- ✕Assuming IDR forgiveness is tax-free (only PSLF forgiveness is currently tax-free)
Часті запитання
Is PSLF forgiveness taxable?
No. PSLF forgiveness is excluded from federal income tax. IDR forgiveness after 20–25 years is also temporarily tax-free through 2025, but may become taxable after that.
Do I have to work for the government to get PSLF?
No. Any 501(c)(3) nonprofit, government agency (federal, state, local, tribal), or qualifying public service organization counts. You need 120 payments while employed full-time.
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