Yes. The Student Loan Repayment Tracker is available at no cost. It helps you estimate your monthly payment, track your repayment progress, monitor potential forgiveness, and estimate how much to save for possible taxes if forgiveness is taxable.

No. Your loan servicer remains responsible for billing, collecting payments, and managing your federal student loans. This tool helps you better understand and track your repayment strategy using the information you provide.

Yes. Based on your loan information, repayment plan, and other details you provide, the tracker estimates how much may be eligible for forgiveness and when that forgiveness could occur. These are estimates and actual results depend on your circumstances and applicable program requirements.

For some federal forgiveness programs, the amount forgiven may be treated as taxable income under current law. If applicable, our tracker estimates a potential tax liability and suggests a monthly savings amount to help you prepare. Tax laws can change, and you should consult a qualified tax professional regarding your specific situation.

The tracker recommends a monthly savings amount to help you prepare for a potential tax bill if your student loan forgiveness may be taxable. The recommendation is based on your projected forgiveness amount, the estimated taxes that may be owed under current law, and the time remaining until potential forgiveness. Because tax laws and individual circumstances can change, this is an estimate for planning purposes only.

Yes. The tracker can help estimate your monthly payment. Because PSLF forgiveness is currently tax-free under federal law, tax savings estimates generally do not apply to borrowers who ultimately qualify for PSLF. However, if you were to stop working at a non-profit, you’d be on an income-driven repayment plan that would become taxable. Therefore, you can estimate the student loan forgiveness tax should you leave the non-profit.

Refinancing may lower your interest rate or monthly payment, but it also permanently replaces federal student loans with a private loan which eliminates access to federal repayment and forgiveness benefits. Whether refinancing makes sense depends on your individual financial situation and goals.

Changes such as income, marital status, or family size can affect your estimated monthly payment and projected forgiveness. Simply update your information and the tracker will recalculate your estimates using the latest data you provide.