Student Loan Refinance Calculator
See whether refinancing your student loans lowers your monthly payment and total interest. Warning: refinancing federal loans into a private loan forfeits IDR, PSLF, and forbearance protections.
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How it works
We amortize your existing balance at the current rate over the remaining term, then amortize the same balance (plus any fee) at the new rate over the new term. The difference in monthly payment × payments, plus the fee, is your net lifetime savings.
Frequently asked questions
Should I refinance federal student loans?
Only after you've decided you won't use income-driven repayment, PSLF, or federal forbearance. Refinancing into a private loan permanently gives up those protections.
How much rate drop makes refinancing worthwhile?
Rule of thumb: 0.75–1.0 percentage points and no term extension. Anything less rarely justifies the paperwork and lost federal benefits.
Does credit score matter?
Yes — private lenders reserve the lowest rates for scores in the mid-700s and up, plus stable income and DTI < 40%.
Can I refinance multiple loans at once?
Yes. You take one new loan that pays off all the old balances. The new rate applies to the combined amount.
Are there fees?
Most private student-loan refis have no origination fee, but always confirm. Any fee gets amortized into the new balance in our math.