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Parent Loan Calculator


A Brazos Parent Loan can help you pay for your student's college education.
With no fees, low rates and more available repayment terms than the Direct Parent PLUS loan, they can save you money, too.
Use the calculator below to compare a Brazos Parent Loan to the 10-year Direct PLUS Parent Loan.1


BEFORE YOU PROCEED WITH THIS CALCULATOR: There are current relief measures in place for Federal Direct Parent Plus Loans that reduce the interest rate for Federal Direct Parent Plus Loans to 0% for a period of time. These relief measures are not permanent but are in place indefinitely. Once the relief measures are lifted, the interest rate for all Federal Direct Parent Plus Loans is expected to return to the normal rate. This Calculator DOES NOT take into account these special periods of zero interest and is only accurate assuming the normal interest rates are being charged. Please click here for more information on the relief measures and other important information.



See how much you could save with a Brazos Parent Loan!



Amount you want to borrow

$


Select your credit score 2



Select your loan type




Compare the Brazos Parent Loan to the Direct PLUS Parent Loan

Direct PLUS Loan
10-year
Financial Need
$
Origination Fee
$3
Loan Amount
$
Interest Rate
%3
Capitalized Interest
$
Loan Balance
at Repayment
$
Monthly Payment
$
Total Cost of Loan
$



Brazos
5-year
Financial Need
$
Origination Fee
$0 
Loan Amount
$
APR
%4,5
Capitalized Interest
$
Loan Balance
at Repayment
$
Monthly Payment
$
Total Cost of Loan
$
Total Savings
Brazos
7-year
Financial Need
$
Origination Fee
$0 
Loan Amount
$
APR
%4,5
Capitalized Interest
$
Loan Balance
at Repayment
$
Monthly Payment
$
Total Cost of Loan
$
Total Savings
Brazos
10-year
Financial Need
$
Origination Fee
$0 
Loan Amount
$
APR
%4,5
Capitalized Interest
$
Loan Balance
at Repayment
$
Monthly Payment
$
Total Cost of Loan
$
Total Savings
Brazos
15-year
Financial Need
$
Origination Fee
$0 
Loan Amount
$
APR
%4,5
Capitalized Interest
$
Loan Balance
at Repayment
$
Monthly Payment
$
Total Cost of Loan
$
Total Savings
Brazos
20-year
Financial Need
$
Origination Fee
$0 
Loan Amount
$
APR
%4,5
Capitalized Interest
$
Loan Balance
at Repayment
$
Monthly Payment
$
Total Cost of Loan
$
Total Savings


Ready to get started?



More Ways to Save


Competitive student loan interest rates are just a part of the way Brazos Parent Loans provide significant savings.


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Save money

Great low rates can save you money over the life of the loan, allow you to pay off your debt sooner, or lower your monthly payments.

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Zero fees

No origination fees. No prepayment penalties. Ever.

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Choose your term

Customize your loan to fit your financial goals.
5, 7, 10, 15 and 20-year repayment terms available.6

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Not just for parents

The Brazos Parent Loan is available to parents, grandparents, and other credit-worthy family members and friends of the benefiting student.

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For graduate students, too

Unlike the Direct Parent PLUS program, parents may use a Brazos Parent Loan to finance the cost of a graduate degree, including medical, law, MBA and other professional degrees.

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Approval in minutes

Save time with our quick, online application. Get pre-approved in minutes.7


Transparent Pricing. Unlike most other lenders, see our rates before you apply.



Disclaimers


1. The rates, terms, calculated payments, total interest, and total savings amounts are estimates only. The calculator assumes that the amount of the financial need is disbursed to the school in two equal installments six (6) months apart. Capitalized interest is calculated during this six month period at the interest rates shown. This capitalized interest is added to the amount of financial need to arrive at the estimated balance of the loan when repayment begins. Estimated payments are based upon the projected balance at repayment, including capitalized interest. Calculated monthly payments and total payments are based on information provided by you and assume that the interest rates remains constant throughout the life of the loans and that the loans will be repaid in equal monthly installments. Please note that the interest rate will not remain constant for a variable rate loan although it is assumed to remain constant for purposes of this calculator. This resource also assumes that you will pay continuously throughout the repayment period with no breaks for forbearance or prepayments. We cannot guarantee the accuracy or completeness of the information or the Parent Loan Calculator resources' applicability to your circumstances.

Using the Loan Calculator resource does not constitute an offer to receive a loan and will not solicit a loan offer. Any rates, terms, calculated payments and saving will depend on the actual amounts for which you are approved, should you choose to apply.


2. Credit score used is the Transunion FICO Score 8, which is based on information from TransUnion and may differ from other credit scores. FICO is a registered trademark of the Fair Isaac Corporation.


3. Direct PLUS interest rate is the interest rate for loans first disbursed on or after and on or before . The rate assumes a 0.25% interest rate reduction for borrowers that authorize automated payments from a bank account. The calculator also assumes a % origination fee for Direct PLUS loans first disbursed on or after and before . These amounts may vary depending upon when the first disbursement on your loan occurred or will occur. Direct PLUS interest rates and fees are subject to change by the Federal Government. Always visit studentaid.ed.gov for the most current information about federal loan programs.


4. Brazos Parent Loan fixed rates from % APR to % APR (with Auto-Pay Discount). Variable rates from % APR to % APR (with Auto-Pay Discount). Interest rates on Brazos loans are capped at 9.90%. Lowest variable rate of % APR assumes current 1 month LIBOR rate of % plus a % margin minus the 0.25% Auto-Pay Discount. Not all borrowers receive the lowest rate. If approved for a Brazos Parent Loan, the fixed or variable interest rate offered will depend on your creditworthiness, the term of the loan and other factors, and will be within the ranges of rates listed above. For the variable rate Brazos Parent loan, the 1-month LIBOR index will adjust monthly and the loan payment will be re-amortized and may change monthly. APRs for variable rate loans may increase after origination if the LIBOR index increases.

Auto-Pay Discount. The interest rate in effect will be reduced by 0.25% if either the borrower or the cosigner authorizes automated (ACH) payments from any bank account. This ACH interest rate reduction, referred to as the Auto-Pay Discount, applies only when full principal and interest payments are automatically drafted from a bank account. This interest rate reduction will not continue to apply during periods of approved forbearance or deferment. The Auto-Pay Discount will terminate if the automatic bank account payments discontinue or there are any three instances of insufficient funds at any time during the term of the loan. A borrower may requalify upon reauthorization of automatic payments from a valid bank account.


5. Brazos Parent Loan rates as of . Brazos Parent Loan rates shown include the 0.25% Auto-Pay Discount, available to borrowers who have payments automatically deducted from a bank account.

Variable interest rates shown are indexed to the one-month LIBOR rate. The Loan Calculator assumes a 1 month LIBOR rate of %. The actual 1 month LIBOR rate may differ and change monthly. This may cause your payment to increase or decrease after disbursement, which may increase or decrease the Total Savings over time. Your interest rates are capped and will never exceed 9.90%.

The interest rate for your loan may be based, in part, on whether you have a creditworthy cosigner. Applying with a creditworthy cosigner may help you qualify and/or receive a lower interest rate. Your interest rate may be higher without a creditworthy cosigner.


6. The tables below contain the estimated monthly payments, estimated total interest, and estimated total cost of a $10,000 loan at the median fixed and variable rates for each of the terms we offer.

Fixed Rates

Term Median APR Number of Payments Estimated Monthly Payment Estimated Total Interest Estimated Total Cost
5 Year

%
60 $

$

$

7 Year

%
84 $

$

$

10 Year

%
120 $

$

$

15 Year

%
180 $

$

$

20 Year

%
240 $

$

$


Variable Rates

(Variable APRs and amounts subject to increase or decrease. Variable rates are indexed to the one-month LIBOR rate and assume a one-month LIBOR rate of %.)


Term Median APR Number of Payments Estimated Monthly Payment Estimated Total Interest Estimated Total Cost
5 Year

%
60 $

$

$

7 Year

%
84 $

$

$

10 Year

%
120 $

$

$

15 Year

%
180 $

$

$

20 Year

%
240 $

$

$


7. Credit Review and Approval. If you choose to apply for a Brazos Parent Loan and continue your application past the pre-credit eligibility stage, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit inquiry. Hard credit inquiries (or hard credit pulls) are required for Brazos to be able to issue you a Brazos loan. In addition to requiring your explicit permission, these credit pulls may impact your credit score. The initial credit review is based on review of all the information you and your cosigner (if applicable) provide during the application process and the information obtained from your credit report(s). If you pass the initial credit review, you will need to provide acceptable documentation such as your income verification before the final loan approval.