Parent Loan Calculator
Use our parent loan calculator1 to see your loan in action!
Want to borrow less?
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Understanding Your Results
Based on how you adjust your loan variables, you’ll notice changes in how much you’ll pay each month, the amount of interest you’ll pay and how long you’ll need.
- Monthly payment: Once you start to pay back your parent loan, this is the amount due each month. The longer the term, the lower your monthly payment but you’ll pay more overall.
- In School Payment: This is the monthly amount to pay while your student is in school. Full principal and interest repayment can be deferred until after graduation but making payments additional during school is a great way to reduce the total cost of your loan.
- Principal: The total amount you will borrow. As you make payments, you will start to pay down the principal amount of your loan, reducing the total interest that accrues each month.
- Total Interest: The total amount in interest you’ll pay on your loan.
Once you’ve experimented with your results, you can see if you prequalify specifically for a College Ave loan or learn more about shopping for student loans.
Footnotes
Calculations are estimates only. Your actual monthly payment amounts, interest rate, and payment schedule may vary from the results shown and will be based on terms in effect at the time your loan is approved.
You can elect a set monthly payment amount of “Interest Plus” in increments of $20. If you select a variable rate loan, note that we require you to pay at least the monthly interest charges during the in-school period, so your minimum monthly payment due will be the “Interest Plus” monthly payment amount that you selected or the interest due, whichever is greater. Loans will never have a