Compares existing federal or private student loans with a new private refinance offer to show lifetime interest savings.
Student Loan Refinance
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How to Use This Calculator
Enter your current remaining balance, rate, and term, then compare it to the new refinance rate and term.
Frequently Asked Questions
Should I refinance federal student loans?
Refinancing federal loans into private loans means you lose federal protections like income-driven repayment plans and potential forgiveness, so weigh this carefully.
How does the Student Loan Refinance Calculator find savings?
The Student Loan Refinance Calculator compares the total lifetime interest of your current loan against the new offer to show exactly how much you save.
Does the Student Loan Refinance Calculator warn about federal loans?
While it does the math perfectly, remember that refinancing federal loans turns them private, losing you access to federal forgiveness programs.
Why did my payment go up in the Student Loan Refinance Calculator?
If you refinance to a shorter term (e.g., 10 years to 5 years), the Student Loan Refinance Calculator will show a higher monthly payment but massive total interest savings.
Is the Student Loan Refinance Calculator only for student loans?
The math in the Student Loan Refinance Calculator actually works perfectly for refinancing personal loans and auto loans as well!