US Student Loan Refinancing Estimator
Find out how much you save by refinancing your US student loan to a lower interest rate or different term.
đ Student Loan Refinancing Calculator
See how much you save by refinancing to a lower rate or different term.
Current Loan
Refinanced Loan
What is the US Student Loan Refinancing Estimator?
Compare your current student loan terms to a refinanced loan to see monthly payment changes, total interest savings, and whether refinancing makes financial sense.
How Does the US Student Loan Refinancing Estimator Work?
Enter your current loan balance, rate, and remaining term. Then enter your proposed new rate and term to see exact savings in interest and monthly payments.
Formula & Calculation Method
Monthly payment = P Ã [r(1+r)^n] / [(1+r)^n - 1]. Total interest = total paid minus principal. Interest savings = current total interest minus new total interest.
Example Calculation
Refinancing a $35,000 loan from 6.5% rate down to 4.5% over a 10-year term saves $4,129 in lifetime interest and reduces the payment by $34/month.
Frequently Asked Questions
Monthly payment = P Ã [r(1+r)^n] / [(1+r)^n - 1]. Total interest = total paid minus principal. Interest savings = current total interest minus new total interest.
Disclaimer: This tool is provided for informational and calculation purposes. Output values are estimates based on standard user inputs.