The Dept. of Education has reinstated the online application for Income Driven Repayment plans and loan consolidation. Borrowers on the SAVE plan remain on an interest-free forbearance until further notice or unless they apply for another IDR plan. To learn more and get guidance on recertification deadlines, click here.

Parent Plus Calculator: Single and Head of Household Tax Filers

Notes and Disclaimers

  1. Above are estimates only. We use 2024 Federal Poverty Levels for our calculations.
  2. Parent Plus loans must be consolidated to be eligilbe for the ICR plan.
  3. ICR Calculations may be partially based on the balance at the time the loans went into repayment, not current loan balances. This may cause estimates to be lower or higher than actual payments. 
  4. The ICR plan offers forgiveness after making 25 years of qualifying payments.
  5. Traditional Plans: Plans with extended repayment terms have lower monthly payments, but you will pay more over the life of the loan. See “Student Loan Payoff Calculator” for more detail.
  6. Traditional Plan payback periods are based on whether loans are unconsolidated or consolidated and the loan balance: 
    • 10 Years – All Unconsolidated Loans and Consolidation Loans, balance <$7,500
    • 12 Years – Consolidation loans only, balance $7,500-$9,999
    • 15 Years – Consolidaiton loans only, balance $10,000-$19,999
    • 20 Years – Consolidation loans only, balance $20,000-$39,999
    • 25 Years – Unconsolidated Loans with a balance of at least $30,000 or Consolidation loans with a balance of $40,000-$59,999
    • 30 Years – Consolidation loans only, balance $60,000 or more
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