Parent PLUS loans are exceedingly complex, and the One Big Beautiful Bill Act (OBBBA) just made the stakes higher. This Parent PLUS loan calculator shows the cheapest path to full repayment as well as forgiveness options through income-driven repayment. We show Income-Based Repayment (IBR), which Parent PLUS borrowers can access with a Direct Consolidation Loan that was disbursed by June 30, 2026. We also updated the calculator with the 2026 federal poverty guidelines so you can see your lowest possible payment.
Borrowing for a student who starts school after July 1, 2026? New annual and lifetime caps now apply to Parent PLUS loans. See our guide to the 2026 Parent PLUS borrowing limits.
Note: This calculator is currently being updated to reflect the latest student loan policies and repayment plans. Results may not be accurate.
Parent Plus Calculator Inputs
General Inputs
What is your family size? Enter the total number of people in your family including you, your spouse, and children your children. Include unborn children who will be born this year.
What year did you start paying your student loans on an income driven plan? Enter today's year if you haven't started or just started
What percent do you think you'll be paying in income taxes in retirement?(%) 10% to 30% is a typical answer
How much federal student debt do you owe? Input the current balance of all of your federal student loans.
List the smaller of your prior year AGI or your current income Enter your adjusted gross income (AGI). You can find your AGI on your IRS Form 1040, line 8b. If you don't have this handy, you may use an estimate.
What's the average interest rate of all of your federal student loan debt? Enter your average interest rate (numbers only, do not include "%")
Do you plan to work at a non profit or government employer full time for a period of at least 10 years? Enter "Yes" if you plan to work for an Public Service Loan Forgiveness eligible employer for at least 10 years.
Was your Parent PLUS consolidation loan disbursed by June 30, 2026?
Refinancing Assumptions
Do you want to use the automatic assumption that you can refinance your loans at 4.00% for a 10-year term, or would you like to manually model your own refinancing deal? Choosing "Automnatic" will assume you can refinance your student loans at 4% APR for a 10-year term. Choose "Manual" to customize the refinanced loan term and interest rate.
Income Growth Assumption
Do you want to forecast your income automatically at 3% annual growth or enter it manually? Choose "Automatic" to forecast 3% annual income growth. Choose "Manual" to enable a field to input your own annual income growth rate.
Inputs for Spouse
Are you legally married?
Spouse’s Income Growth Assumption
Summary
Your Student Loan Repayment Summary
| Repayment Plan | Total Payments | Forgiven Balance | Taxes on Forgiven Debt | Total Cost of Student Loan Repayment |
|---|---|---|---|---|
| Double Consolidation with IBR* 25 Year |
||||
| Standard 10 Year | N/A | N/A | ||
| Refinancing | N/A | N/A | ||
| 10 Year PSLF (using ICR) | N/A | N/A | ||
| 10 Year PSLF ( Double Consolidation with IBR*) | N/A | N/A |
Your Spouse's Student Loan Repayment Summary
*Requires a Parent PLUS consolidation (single or double) that was already disbursed by June 30, 2026. Double consolidation is no longer available — the window to consolidate for income-driven repayment access has closed and can't be completed now.
Details
Your Monthly Payment
Spouse's Monthly Payment
Your Student Debt Balance Over Time by Year
Your Spouse's Student Debt Balance Over Time by Year
Your Yearly Student Loan Interest
Your Spouse's Yearly Student Loan Interest
For a Parent PLUS loan, the traditional income-driven option is Income-Contingent Repayment (ICR), which requires 20% of your discretionary income for 25 years, or 10 years if you qualify for PSLF. ICR is being phased out under OBBBA. If you’ve already consolidated and you’re on ICR, you have until June 30, 2028 to switch into the more affordable IBR plan, which caps payments at 15% of discretionary income with a much bigger income deduction.
Double consolidation is no longer required for Parent PLUS borrowers to reach lower-payment plans, and it’s no longer possible, either. A Direct Consolidation Loan that was disbursed by June 30, 2026 can access IBR. If your consolidation wasn’t done by that deadline, the window has closed for good, and any new Parent PLUS loans or consolidations are permanently barred from income-driven options, including IBR, ICR and the new RAP plan, limiting repayment to the Standard Plan.
If your consolidation made it in under the wire, use the calculator above to compare what IBR, ICR, the Standard Plan and refinancing would cost you. We’re experts in navigating the new rules, and if you book a Parent PLUS student loan consulting plan we can help you evaluate your options. Enjoy our Parent PLUS Loan calculator!
When is Income-Driven Repayment for Parent PLUS Loans Not a Good Idea?
Here’s a couple criteria to know if an income-based repayment plan is not in your best interest:
- Your payment under IBR or ICR is close to what it is under the Standard 10 Year Plan
- You work in the private sector and owe less than what you earn each year
- You have adequate savings and do not feel stressed making your monthly student loan payment
If you answered yes to all three of those criteria, then you’re likely better off refinancing your Parent PLUS student loans to a lower interest rate so you can pay them off quickly. For a parent loan, you can refinance into your name or the name of your child (your child would have to agree to take on the debt with his or her own application).
A quick rate check with a lender would show how much in interest savings you could qualify for (and you get a refinancing bonus of up to $1,050 if you end up using them).
If you want a far more powerful copy of the Parent PLUS calculator above, enter your name and email below and we’ll send you over a copy you can download and use.
