Loan Refinance Calculator
Analyze potential savings from refinancing your student loans at lower interest rates
Your Current Loans
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Your Refinance Profile
Total monthly debt payments ÷ monthly income
Variable rates start lower but may increase
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Add your current loans and refinancing profile, then click "Analyze" to see potential savings.
Disclaimer: This calculator provides estimates for educational purposes only. Actual refinancing rates and terms depend on creditworthiness, income, employment, and lender policies. Refinancing federal loans with private lenders eliminates federal protections and benefits. Rates shown are estimates based on current market conditions and may not reflect actual offers. Consult with qualified financial professionals before making refinancing decisions.
Understanding Student Loan Refinancing
Refinancing combines your existing student loans into a single new private loan, ideally at a lower interest rate than your current weighted average. It can reduce your monthly payment or total interest paid — but if any of your current loans are federal, refinancing permanently converts them to private, giving up income-driven repayment, forgiveness programs, and other federal protections.
This calculator estimates potential savings across several fixed and variable rate scenarios based on your credit profile, so you can weigh the real dollar savings against what you'd be giving up.
How This Calculator Works
Add each of your current loans (balance, rate, monthly payment), then enter your credit score range, employment status, income, and debt-to-income ratio. The calculator estimates your current total remaining interest, generates several refinancing scenarios at different rates and terms based on your credit tier, and ranks them by total interest savings — while flagging the federal protections you'd lose by refinancing.