PSLF Calculator for Nurses

Most nurses at non-profit hospitals qualify for Public Service Loan Forgiveness — 120 qualifying payments, then remaining federal loan balance forgiven tax-free. The question is whether staying the course beats refinancing. This calculator runs the math for your specific situation.

How the math works

The calculator models two scenarios over the months remaining in your PSLF window:

• PSLF path: Monthly IBR payment = 10% of discretionary income ÷ 12, where discretionary income = AGI minus 150% of the federal poverty guideline for your family size.¹ Interest accrues monthly on the balance. At month 120, whatever remains is forgiven — tax-free under IRC §108(f)(1).²
• Refinance path: Standard amortization on current balance at your private refi rate over 10 years (120 months). No forgiveness; you pay it off fully.

If your IBR payment doesn't cover monthly interest, your balance grows — which actually makes PSLF more valuable, because more gets forgiven at month 120.

Why this decision is high-stakes for nurses

Most nurses at major health systems — Kaiser, Sutter, Cleveland Clinic, Johns Hopkins, VA, academic medical centers — work for 501(c)(3) non-profits. That means they qualify. And the stakes are large:

• A CRNA with $220K of loans and $250K income might save $100,000+ by staying the PSLF course vs. refinancing
• An NP with $140K of loans and $120K income might save $60-80K
• A bedside RN with $60K of loans and $80K income has a much lower IBR payment — PSLF vs refinancing is closer, but still typically favors PSLF if the employment is certain

What changes after SAVE

The SAVE plan was vacated by federal courts on March 10, 2026. Borrowers who were in SAVE administrative forbearance need to switch to IBR before the transition deadline. Qualifying months earned under SAVE count toward PSLF in whatever plan you move to — those months are not lost. IBR new-borrower terms (10% of discretionary, 150% FPL exclusion) apply going forward.³

Key employer eligibility rules

• Non-profit hospital (501(c)(3)): qualifies
• VA / government / military: qualifies
• For-profit chains (HCA, Tenet, Community Health): does not qualify
• Travel nurse via agency: generally does not qualify — agency is legal employer, and most agencies are for-profit
• Hospital-owned physician/CRNA group: check which entity issues your W-2. For-profit sub-groups inside non-profit health systems often don't qualify.

Verify at studentaid.gov/pslf/employer-search using your employer's EIN.