United States · USD. This page uses a shared calculation model and may include US-specific assumptions. Selecting a country changes formatting, not local tax, eligibility or contribution rules. Amounts are not converted between currencies.
Input Parameters
Results
Current vs Refinanced
- Current$402 (56%)
- Refinanced$311 (44%)
Choose a chart point to read its values.
View chart data table
Total Cost Comparison
- Current Total$38,552 (51%)
- New Total$37,310 (49%)
Disclaimer: This calculator provides estimates for informational purposes only. Results are based on the inputs provided and standard financial formulas. Consult a qualified financial advisor before making financial decisions.
About This Calculator
The Student Loan Refinance Calculator see how much you save by refinancing student loans. It's built for anyone working with education who wants fast, accurate numbers without building a spreadsheet.
Sources & Model Limits
United States · USD. This page uses a shared calculation model and may include US-specific assumptions. Selecting a country changes formatting, not local tax, eligibility or contribution rules. Amounts are not converted between currencies. Read our methods and correction policy.
How It Works
Enter your current loan balance, current rate (%), years remaining, new rate (%), new term (years), and the calculator instantly computes your monthly savings, current payment, new payment, total savings. For example, with Current Loan Balance: $30,000, Current Rate (%): 6.5%, Years Remaining: 8, New Rate (%): 4.5%, New Term (Years): 10, the monthly savings comes out to $91.
Key Benefits
- 1See your monthly savings update instantly as you adjust any input
- 2Compare different scenarios side by side before making a decision
- 3Visualize the breakdown with a chart instead of raw numbers alone
- 4Export your results as a PDF report or CSV file for your records
Practical Tips
- →Start a dedicated education savings account as early as possible to maximize growth
- →Compare tax-advantaged options before using a general savings account
- →Factor in realistic inflation for tuition costs, which often rise faster than general inflation
- →Scholarships and grants reduce borrowing far more effectively than paying off debt later