Private vs Parent PLUS Loan Comparison Tool
Input your specific assumptions/quotes
Parent PLUS are typically paid back in 10 years. For the purpose of this tool, compare the cost of private loans up to a term of 10 years.
| Assumptions | Private Loan | Parent PLUS |
|---|---|---|
| Loan Amount |
$
|
Limit note |
| Interest Rate |
%
|
9.07% |
| Year of School Left |
|
|
| Origination Fee | 0% | % |
| Term (in years) |
|
|
| Repayment Type |
|
Deferred |
| Months of Grace |
|
|
| ACH Discount | 0.25% | 0.25% |
| Loan disbursment date |
Private
| Holding period | Total $ Cost | APR |
|---|---|---|
| All years | % | |
| Refinance after months | % |
Parent Plus
| Holding period | Total $ Cost | APR |
|---|---|---|
| All years | % | |
| Refinance after months | % |
Insights
The maximum term for a federal loan is 10 years
Already signed a Parent PLUS loan? It may be possible to switch lenders to save . Learn how here.
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Disclaimer: This calculator is for informational purposes only and should not be considered financial advice. Interest rates are not guaranteed and subject to change without notice. The results of this calculator are estimates and may not reflect the actual cost of a loan or the financial benefits of investing. Users should consult a financial advisor before making any financial decisions.