2021 NerdWallet Best-of Awards Winner for Best Student Loan Refinancing Overall
2021 NerdWallet Best-Of Awards Winner

Parent PLUS Loan Calculator

See how much your Parent PLUS Loan will cost you in seconds using your interest rate and repayment term.

Enter Your Loan Information

Loan Balance
Your remaining student loan debt to be repaid.
Interest Rate
The amount that the lender charges in interest, expressed as a percentage.
The length of time you have to repay your student loan debt in full.



Monthly Payment


Lifetime Interest

Ready to  save your money on your Parent PLUS Loans? Refinance to a lower rate and more favorable terms with a quick 2-minute rate comparison.

FAQs – Parent PLUS Loan Calculator

Parent PLUS Loans are student loans offered by the federal government to parents who want to borrow money to pay for their child’s education.

Parent PLUS Loans often have the highest interest rates of any federal student loan offered by the U.S. Department of Education. These rates are set by the U.S. Congress each year.

Refinancing Parent PLUS Loans allows you to take out a loan from a private lender that covers the cost of your current Parent PLUS debt. The new loan is completely different from your old ones — with a new repayment term, interest rate, and monthly payment. And, if you had multiple student loans before, refinancing gives you just one loan and one monthly payment going forward. Refinancing your Parent PLUS Loans and lowering your current interest rate can be a very big deal for your finances — especially when considering Parent PLUS Loans typically have the highest interest rate of any federal student loan.

For parents who took out student loans — either federal Parent PLUS Loans or private loans — to help their children go to college, refinancing can be an easy way for qualified borrowers to reduce their interest rate and pay off their loans sooner.

By refinancing your parent loans, you could qualify for a lower interest rate to save money on interest costs over the life of your new refinanced loan, shorten your repayment term to pay off your debt more quickly, lengthen your repayment term to have a smaller monthly payment, and merge all your loans into one new loan.

Some of our lenders, such as PenFed Credit Union, also allow parents to transfer their Parent PLUS and private student loans into their child’s name — which can be a great way to help your children take charge of their education and start building up a credit history.

To get started with refinancing, use Purefy’s Compare Rates tool. You’ll quickly and easily compare your actual student loan options from a tightly vetted list of refinance companies — all with one simple form. All our lenders have sterling reputations and offer loans with no origination fees or prepayment penalties. The rate comparison tool will show your rate and monthly payment options with absolute transparency, allowing you to make an informed decision that meets your financial needs.