Student Loan Refinance Calculator
Calculate student loan refinancing options, compare interest rates, and estimate monthly payments and total savings with our comprehensive calculator. Make informed decisions about your student debt.
Step 1: Current Loan Details
720
Federal vs. Private Loans
Federal loans offer income-driven repayment and forgiveness options. Refinancing converts federal loans to private, potentially losing these benefits. Consider your options carefully.
Step 2: Refinance Options
10 years
Refinancing Considerations
Shorter terms have higher monthly payments but save on interest. Longer terms reduce monthly payments but increase total interest. Consider your budget and financial goals.
Refinance Comparison Results
Summary
Payment Timeline
Lender Comparison
Estimated Total Savings
$8,240
Over 10 years with 4.25% rate
Current Monthly Payment
$398
Refinanced Monthly Payment
$358
Monthly Savings
$40
Interest Rate Reduction
2.25%
Total Interest Paid (Current vs Refinanced)
$12,760 vs $4,520
Payment Timeline Comparison
Payoff Date (Current)
June 2034
Payoff Date (Refinanced)
June 2034
Time to Payoff
10 years
Break-even Point
2 months
Lender Comparison Table
| Lender | APR Range | Monthly Payment | Total Interest | Savings |
|---|
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