What are the payments on a parental (PLUS) loan?

Estimate the monthly payment and total interest on a federal Parent PLUS loan borrowed across multiple years of school.

Loan Amounts

Amount to borrow (year 1) ?

The annual amount you plan to borrow from your non-collateral PLUS loan.

Amount to borrow (year 2) ?

How much you plan to borrow in the second year of school.

Amount to borrow (year 3) ?

How much you plan to borrow in the third year of school.

Amount to borrow (year 4) ?

How much you plan to borrow in the fourth year of school.

Assumptions

Annual interest rate ?

The interest rate on the PLUS Loan is a fixed 5.3% for loans made on or after July 1, 2020.

Number of months ?

The number of months that the PLUS loan is amortized. The typical term is ten years or 120 months.

Advanced options 1

Desired amortization schedule ?

Monthly Yearly

Select the payment schedule (monthly or yearly) that you would like displayed.

Enter your values and select Calculate.

PLUS loans are low-interest federally insured loans for parents of undergraduate students to help pay a dependent student's college cost. PLUS loans are also available to graduate and professional students. The rate is fixed 2.75% for loans made on or after July 1, 2020.

This information may help you analyze your financial needs. It is based on information and assumptions provided by you regarding your goals, expectations and financial situation. The calculations do not infer that the company assumes any fiduciary duties. The calculations provided should not be construed as financial, legal or tax advice. In addition, such information should not be relied upon as the only source of information. This information is supplied from sources we believe to be reliable but we cannot guarantee its accuracy. Hypothetical illustrations may provide historical or current performance information. Past performance does not guarantee nor indicate future results.