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Determine The Payments On A PLUS Loan With Our Parent PLUS Loan Calculator

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

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.

Loan Amounts

Assumptions

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Credit 101

An important part of personal finance is how you manage your debt. Ideally, you would not have any debt, but in practice, most families do. It is not likely that most persons would be able to buy a car, a house, an education, or even major appliances without having to incur some debt. Sometimes, debt may actually be desirable, especially if you could borrow money at a low interest rate to make a high-interest investment.

Debt makes everything cost more. If you saw a sign in a store window advertising "Sale -- Everything 25% Off," you might be tempted to rush in and buy, buy, buy. But what if the sign said "Sale -- Everything 25% More Than Marked"? That is just what happens when you pay for goods and services using debt. Moreover, you may be using debt without even realizing it.

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Definitions

  • Amount to borrow (year 1)The annual amount you plan to borrow from your non-collateral PLUS loan.
  • Annual interest rateThe 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.
  • Desired amortization scheduleSelect the payment schedule (monthly or yearly) that you would like displayed.
Money Help Center
Ces renseignements ont pour but de faciliter l'analyse de vos besoins financiers. Ils s'appuient sur les données et les estimations que vous avez fournies en ce qui concerne vos objectifs, vos attentes et votre situation financière. Les calculs n'impliquent aucune obligation fiduciaire de la part de l'entreprise. Les calculs ne constituent pas des conseils financiers, juridiques ou fiscaux et ne devraient pas être utilisés comme seule source d'information. Ces renseignements proviennent de sources que nous jugeons fiables sans toutefois pouvoir en garantir l'exactitude. Les scénarios hypothétiques peuvent s'appuyer sur des données relatives au rendement actuel ou historique. Le rendement passé ne constitue aucune garantie ni indication des résultats futurs.
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