Public Service Loan Forgiveness (PSLF) Calculator
PSLF Estimator
Use AGI from your last tax return.
Public Service Loan Forgiveness
Tax-Free100% Tax-Free
*Estimates based on 2026 RAP (Repayment Assistance Plan) sliding scale logic. Assumes income, dependents, and payments remain exactly the same for the duration of the loan. Minimum payment is $10. Interest isn't modeled, so treat the forgiveness estimate as a floor.
What Your Number Means
Large Projected Forgiveness: If a large share of your current loan balance is projected to be forgiven, you are a prime candidate for PSLF. Make sure you are on a PSLF-qualifying plan — the Repayment Assistance Plan (RAP) this estimator models, or IBR if every loan you hold was disbursed before July 1, 2026 (see IBR vs. RAP) — and submit your Employment Certification Form (ECF) annually.
Zero Forgiveness Projected: If the calculator projects $0 in forgiveness, your income is likely too high relative to your debt (meaning you will pay it off before the 120-month mark under the RAP sliding scale). In this scenario, aggressive private refinancing is usually the mathematically optimal move.
Physician Case Studies
Dr. Smith (PGY-3 Pediatrician)
The Profile: $250,000 in federal debt. Current resident AGI: $65,000. Expected attending AGI: $220,000. Zero dependents.
The Outcome: Under the RAP sliding scale (6%), her payment is $325/mo during residency. As an attending (10% scale), her payments jump to $1,833/mo. With 24 qualifying payments already made in PGY-1 and PGY-2, her remaining 96 are 12 at $325 and 84 at $1,833: $157,900 in total. That leaves about $92,000 in tax-free forgiveness by this estimator's math, and more in practice, since the estimate leaves out interest. PSLF is still a massive win.
Dr. Jones (Attending Orthopedic Surgeon)
The Profile: $300,000 in federal debt. Attending AGI: $600,000. Files taxes Married Filing Jointly.
The Outcome: Due to his high income, he hits the 10% RAP bracket, resulting in a monthly payment of $5,000. Ten years of those payments would total $600,000, twice his $300,000 balance, so he pays the loans off long before reaching the PSLF finish line. Projected forgiveness is $0. He should refinance privately for a lower rate.
* Note: The physician case studies presented above are illustrative composites created for educational purposes. They do not represent actual clients or guarantee similar results.
Want to dive deeper?
Read our comprehensive guide to understand all the nuances and strategies.
Clinical Context & Calculation Details
How to Use This Calculator
Enter your Federal student loan balance, your Adjusted Gross Income (AGI) from your last tax return, the number of dependents you claim on your tax return (not counting yourself), and how many years of qualifying payments you have already made.
The estimator projects your monthly payment under the Repayment Assistance Plan (RAP), the income-driven plan that replaced SAVE, and calculates the estimated tax-free forgiveness after 120 payments.
Why Doctors Need This
Public Service Loan Forgiveness (PSLF) is the single most valuable financial tool available to young physicians. If you work for a 501(c)(3) non-profit hospital (which most academic and many community hospitals are), the government will forgive your remaining Federal loan balance tax-free after 120 qualifying payments (about 10 years).
The Math Behind It
RAP Payment: AGI × bracket rate (1% to 10%) ÷ 12 − $50 per dependent, with a $10 minimum. The rate rises one point for each $10,000 of AGI above $10,000 and tops out at 10% above $100,000. Unlike IBR, there is no poverty-line deduction and no cap.
Monthly Payment: Notice that the loan balance does NOT determine the monthly payment—only your income does. This is why residents have very low payments despite massive debt. Source: StudentAid.gov (updated Aug. 24, 2026).
Pearls & Pitfalls
- Pearl: Always file your taxes as soon as possible during your MS4 year (reporting $0 income) so your intern year PSLF payments are calculated as $0/month on IBR, or RAP's $10 minimum.
- Pitfall: Refinancing Federal loans with a private bank (e.g., SoFi, Laurel Road) permanently disqualifies you from PSLF. Never do this until you are 100% certain you are taking a private practice job that does not qualify for PSLF.
- Pearl: If you are married to another high-earner, filing taxes as "Married Filing Separately" (MFS) can exclude your spouse's income from the payment calculation, potentially saving thousands.
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About the Author
Joshua Dunigan, DO | Family Medicine Resident & Founder
I'm a family medicine resident physician at Broadlawns Medical Center in Des Moines, Iowa (class of 2027). I founded MedMoneyGuide to give physicians specialty-specific financial guidance, with sources you can check.