Student Loan: Standard vs PSLF
Compare 10-year standard payoff vs. 10-year IDR + PSLF forgiveness for federal loans.
Result
Standard vs PSLF total
Std $109,006 | PSLF $13,705
PSLF saves ~$95,301; loan forgiven after 120 qualifying payments.
- Loan balance$80,000
- Standard monthly$908
- Standard 10-yr total$109,006
- AGI$50,000
- Family size1
- 150% FPL$22,590
- Discretionary income$27,410
- IDR % of discretionary5.0%
- IDR monthly$114
- PSLF 10-yr total$13,705
- PSLF savings vs Standard$95,301
- Approx forgiven$95,301
Step-by-step
- Standard: 10-yr fixed payments at 6.50% = $908/mo.
- IDR: 150% FPL = $22,590; discretionary = $27,410.
- IDR pmt = 5.0% × discretionary / 12 = $114/mo.
- After 120 qualifying payments at PSLF-eligible employer: remaining balance forgiven.
How to use this calculator
- Enter federal loan balance and rate.
- Enter AGI + family size.
- Pick IDR plan.
About this calculator
Public Service Loan Forgiveness (PSLF): work 10 years for qualifying employer (government, 501(c)(3) nonprofit) on Income-Driven Repayment plan, get remaining federal loan balance forgiven (tax-free). For high-debt low-income borrowers (teachers, social workers, public lawyers): saves $50-200k. Not for private loans. SAVE plan (5% discretionary, formerly REPAYE) is most generous; PAYE/IBR are 10-15%. Verify employer eligibility annually with PSLF certification form.
Frequently asked
Employees of: federal/state/local government, 501(c)(3) nonprofits, AmeriCorps/Peace Corps. Not private companies, not religious orgs (in some interpretations).
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