Parent PLUS Loan Calculator

Use this calculator to estimate your monthly payments on federal direct PLUS loans. You can also see the total you'll repay, including interest.

Submit the Free Application for Federal Student Aid, or FAFSA, to qualify for parent PLUS loans and other federal student aid such as grants, work-study and federal student loans.

NerdWallet's Parent PLUS Loan Calculator

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How to use this calculator

Follow the steps below to calculate your monthly payments.

1. Loan amount: Enter the total amount you plan to borrow.

2. Interest rate: Enter the interest rate for your PLUS loan. This rate varies depending on the year you borrow; for 2025-26, it’s 8.94%.

3. Origination fee: Enter the loan’s origination fee, which is 4.228% of the amount you borrow. Lenders deducted this fee from the loan amount prior to sending you the funds.

4. Term: Enter the number of years you need to repay the loan. The standard repayment term is 10 years.

Understanding your results

Once you click the calculate button, you’ll see the following results:

• How much you borrowed: This is the total amount you borrowed.

• Origination fee deducted from loan: This is the amount subtracted from the total amount you borrowed.

• How much your student will receive for school: This is the loan amount your student will receive. It's the borrowed amount minus the origination fee.

• Monthly payment: This is the minimum amount you must pay each month during repayment to stay current.

• Total you'll repay over the loan term: This is the amount you borrow plus interest that accrues over the loan repayment term.

Typically, PLUS loans are repaid within 10 years. If you defer payments while your child is in school, interest will accrue and be added to the loan's balance when it enters repayment, increasing the amount you repay.

Use your results to save money

Once you know your results, consider ways to lower the total amount you owe.

Pay more than the minimum

You can submit more than your monthly minimum to pay off your loan faster. The quicker you finish paying your loans, the more you’ll save in interest.

Lower your monthly payments

There are several PLUS loan repayment options, including consolidating or refinancing your loan, that can help lower your payments.

If you're having difficulty making payments on the standard 10-year federal repayment plan, income-contingent repayment will reduce your monthly PLUS loan payment to 20% of your discretionary income or the amount you'd pay on a fixed 12-year repayment schedule, whichever is less. It also offers forgiveness after 25 years.

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