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Student Loan Refinance Calculator

Compare your current student loans with refinancing options. Currently calculating in US Dollar.

Loan Comparison
Enter current and new loan details

Current Loan

6.8%

Refinanced Loan

4.5%

Private refinance rates: 3% - 9%

Refinancing Could Save You Money

With the new terms, you could save $2,504 over the life of your loan.

Monthly Difference

-$143

Lower payment

Total Savings

$2,504

You save

Interest Savings

$2,504

Less interest

Monthly Payment Comparison
Current Loan
Monthly Payment$609
Total Payment$58,469
Total Interest$13,469
Time Remaining8 years
Refinanced Loan
Monthly Payment$466
Total Payment$55,965
Total Interest$10,965
New Term10 years
Balance Over Time
Compare remaining balance between current and refinanced loan
Cumulative Payments
Total amount paid over time
Things to Consider

Federal Benefits

Refinancing federal loans to private means losing income-driven repayment and forgiveness options

Credit Score

Best refinance rates typically require a credit score of 700+

Shorter Terms

Shorter loan terms mean higher payments but less interest overall

Rate Comparison

Get quotes from multiple lenders to find the best rate for your situation