Tool

PSLF or Refinance?

Total cost of staying on the PSLF track versus refinancing, month by month, with an honest look at what happens if you leave nonprofit work early.

Federal Direct Loan balance

Weighted average interest rate

Qualifying payments already made

of 120

Months left in training

months

Monthly payment in training

Your income-driven payment today.

Monthly payment as an attending

Under RAP, roughly 10% of AGI ÷ 12 above $100k AGI, less $50 per dependent. Confirm at StudentAid.gov.

Unpaid interest is waived (Repayment Assistance Plan). Uncheck for older plans where unpaid interest accrues.

Refinance rate

Term

years

When would you refinance?

Refinancing during training usually means a higher rate and a payment that does not fit a resident budget.

Stay on PSLF

—

Refinance

—

Difference

—

Forgiveness date—

Balance forgiven, tax-free—

Paid during training—

Monthly payment after refinancing—

Balance when you refinance—

Paid off—

Total cost if you leave the PSLF track and refinance the remaining balance at the rate above.

After 2 attending years—

After 4 attending years—

What this assumes

Month-by-month simulation. Interest accrues at the stated rate; unpaid interest is added to what would be forgiven, and is never capitalized, unless waived.
Payments are your entries and do not change with future raises. Re-run the tool as your income changes.
Forgiveness under PSLF is not taxable income under current federal law.
Refinancing is a standard amortizing loan at the rate and term you entered. Refinanced loans are private and lose federal protections and PSLF eligibility permanently.
Repayment plan rules changed under the July 2025 federal law; confirm your plan and payment at StudentAid.gov.

Estimates for education only, not individualized advice. Confirm anything you act on with a professional who knows your full situation.