This calculator enables you to determine whether refinancing is a good option by allowing you to compare monthly payments and total interest paid for your current loan(s) to those amounts with a refinancing offer. Enter your current and proposed loan information. There are other issues to consider when refinancing student loans, such as the possible loss of benefits, including loan forgiveness or deferment options.
Enter your current and proposed loan information.
- Enter your current loan balances, do not use commas or dollar signs. For example, enter $1,000 as 1000
- Enter interest rates as percentages, but do not include the percentage sign. For example, enter 4.5% as 4.5
- Enter the number of years left to pay on your loan (loan term remaining). For example, 9 years, 6 months would be 9.5
* If you have multiple loans, use our Weighted average interest calculator first to find the average interest of your loans.