*This calculator rounds to the nearest dollar, and the results are for estimation purposes only. Please refer to your award notice for your loan eligibility.

Federal Direct Loan origination fees are a percentage of the loan that is subtracted from the requested loan amount; these fees are NOT an interest rate. The loan disbursement amount is less than the amount you accept in MyMadison or enter on your loan application. View a further explanation of what an origination fee is provided by the Department of Education. 

The origination fees used in this calculator are for loans disbursed between October 1, 2020-September 30, 2024. The fees are:

Subsidized and Unsubsidized Loans: 1.057%

Graduate and Parent PLUS Loans: 4.228%

Please review rates, fees, and additional loan information for each loan type via our Consumer Information and at studentaid.gov. Keep in mind that offered loan amounts are limited by eligibility criteria.

Visit the Apply section of our website for Cost of Attendance and Price Calculators that have been created to help you decide how much to borrow.