Student Loan Refinance Calculator

Compare refinancing your student loans vs keeping current rates.

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Student Loan Refinance

Enter your current loans and refinance offer.

Total savings from refinancing
$0
Monthly savings: $0
Current monthly payment
$0
Refinanced monthly payment
$0
Current total interest
$0
Refinanced total interest
$0
Total savings
$0
Breakeven (months)
0

Worked example

With the default inputs shown below, this calculator returns the following results:

InputValue
Total loan balance ($)$50,000
Current weighted average rate (%)6.5%
Remaining term (years)10
Refinance rate (%)4.5%
Refinance fees ($)$0
ResultValue
Total savings from refinancing$5,946
Current monthly payment$568
Refinanced monthly payment$518
Current total interest$18,129
Refinanced total interest$12,183
Total savings$5,946

Values shown are produced by this page in your browser; change any input to update them.

How to use the Student Loan Refinance

  1. Total loan balance ($) — default $50,000
  2. Current weighted average rate (%) — default 6.5%
  3. Remaining term (years) — default 10
  4. Refinance rate (%) — default 4.5%
  5. Refinance fees ($) — default $0
  6. Press Calculate to update the results instantly.

Frequently asked questions

Sources & references