This Tool Allows You to Estimate How Much of Your Student Loan Will Be Forgiven If You Qualify
If you are having trouble paying off your student loan, there are relief options . For example, the program of forgiveness of loans to public services (PSLF) forgive some federal loans if you are working in a particular area. Student Loan Hero’s PSLF Calculator calculates how much relief you can expect.
The state PSLF program forgives the remaining student loan balance after you have made 120 monthly payments under the eligible federal repayment plan – if you work for a suitable employer. This is usually a government or non-profit organization. You can view the full requirements for participation here.
For those who qualify, Student Loan Hero has created a calculator that estimates how much debt a borrower will write off under the program based on their income, interest rate, and other factors. The tool also compares totals based on the respective repayment plan.
Keep in mind that the calculator does not tell you if you are eligible, it just estimates how much forgiveness you are likely to receive if you qualify. See for yourself using the link below.
Public Service Loan Forgiveness Calculator | Student loan hero