Finance Tools
Student Loan Forgiveness Calculator
Estimate remaining student loan balance and potential forgiveness after a chosen timeline based on your expected monthly payment. Optionally estimate taxes on forgiven amount.
Estimate how much student loan balance could remain (and potentially be forgiven) after a set number of months, based on your expected monthly payment. This is useful for planning around general forgiveness timelines (e.g., 20–25 years) and repayment scenarios.
Tax treatment varies by program, country, and year. This is a planning estimate only.
How to use this student loan forgiveness calculator
- Enter your current loan balance and interest rate.
- Set the number of months until forgiveness (e.g., 240 or 300).
- Enter your expected monthly payment (or estimate it).
- Optionally add annual payment growth and estimate taxes on forgiven amount.
- Calculate to estimate remaining balance and potential forgiveness.
Example
If you have $60,000 at 6.5% and pay $250/mo for 240 months, this tool estimates:
- Total paid over the forgiveness timeline
- Estimated remaining balance
- Potential forgiven amount
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