Learn more about student loan forgiveness

See if you qualify

Loan forgiveness for educators and other public employees

Ease your concerns about financial obligations.

The Public Service Loan Forgiveness program offers debt relief to educators and public employees who qualify. Our calculator can help you explore quickly and easily whether you may be eligible and, if so, the amount you could be forgiven.1

Put your savings to work. If you qualify, use the calculator to see how enrolling
in a 403(b) could potentially impact your forgiveness amount.

Try our calculator

Did you know?

graphic of 18 graduate students with 6 in a lighter blue color and one with their head bowed down

Nearly 33% of all American students must now go into debt to get through college.2

bar graph with two bars one dated 2019 with $35,620 and the other dated 2020 with $38,792

The average student loan debt reached a record high of $38,792 in 2020.

graphic of a graduation cap with a dollar sign on it

Collectively, students owe nearly $1.6 trillion, according to the Federal Reserve Bank of New York.3

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Equitable provides tools and resources to help you navigate the eligibility and application processes. Equitable Advisors financial professionals can provide additional insights on maximizing your retirement savings.  Equitable Advisors Financial Professional Randy Lupi discusses the importance of reviewing your options in this Fortune magazine article.

Public Service Loan Forgiveness

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Borrower must work full time in public service, which would include nonprofit 501(c)(3), military, public schools, nonprofit hospitals or government.
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Loan repayment plan type must be one of the four IDR plans or the 10-year standard repayment plan.
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Once borrower has made 120 qualifying monthly payments, the remaining balance is forgiven.

We’re here to help

We’re committed to helping you achieve financial wellness, and that includes tackling student loan debt. 

Get started today

Already enrolled in the Public Service Loan Forgiveness program?

Put your savings to work with a 403(b).

Enroll in a 403(b)

1 This calculator is for general illustrative purposes only and is available here for your independent use. Its results and output are not intended,
and should not be relied on, as investment, financial, insurance, tax, accounting or legal advice, or as a recommendation of any kind.
We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues, including the potential
for student loan forgiveness. All calculator results are based on information and assumptions provided by you. Actual results will vary. The
calculator does not guarantee that a particular outcome will occur.

2 Investopedia, Student Loan Debt. September 2021.

3 Experian, Student Loan Debt Reaches Record High in 2020: February 2021.

GE-3189129 (08/2020) (Exp. 08/2022)