If you are considering borrowing for your child's education, this worksheet will calculate your monthly repayments based on the repayment period (in years), annual interest rate, and loan principal amounts you enter.
Complete the following form to calculate your estimated monthly repayments based on your borrowing plans.
Do not use commas when entering dollar amounts (e.g. 2000 — not 2,000)
Number of years to repay your parent education loan. Enter 10 or fewer years for PLUS. For other loans, enter number of allowable repayment years.
% Annual interest rate. Use 8.5% for PLUS or applicable interest rate for other loan programs.
Enter the amount you expect to borrow from PLUS or other parent loan program(s) for each year of your child's undergraduate education.
$ 1st college year
$ 2nd college year
$ 3rd college year
$ 4th college year
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