Financial GPS · for students and parents together
Can we, as a family, afford it?
Two parts. First, can the family cover four years of cost under the new loan limits? Then, can everyone carry the payments afterward, including if the parents can’t pay?
Our answer
Start overCalifornia Institute of Technology reports neither net price by family income nor typical debt, so this tool can’t run for it.
How these loans work now
New Parent PLUS has no income-based plan and no Public Service Loan Forgiveness: the standard plan’s payment is the payment.
Its length depends on what you owe when repayment starts, including deferred interest: 10 years under $25,000, 15 under $50,000, 20 under $100,000, 25 above.
Already repaying Parent PLUS for an older child? A new loan moves those onto the new standard plan too.
Loans made from July 2027 can’t be paused for unemployment or hardship.
The student’s federal loans can use RAP, which is based on income. Private loans have no income-based plan.
10-year payment at 2026-2027 federal rates (6.52% undergraduate, 1.057% fee): a yardstick, not a repayment plan. Federal loans treated as unsubsidized, with interest from each disbursement until repayment starts six months after graduating. Private loans deferred in school at the chosen rate, repaid over 10 years. Earnings: College Scorecard median four years after graduating; half earn less. Basic expenses: 150% of the 2026 federal poverty guideline for one person, a national figure that doesn’t reflect local costs. Sources: College Scorecard via Azimuth; Federal Student Aid; HHS. Parent PLUS at 9.07% with a 4.228% fee, deferred while the student is enrolled. Parents’ basic expenses: 200% of the 2026 guideline for a household of three. Net price: the school’s reported averages by family income, estimated between bands.