Student Loan Refinance Calculator
Last updated: October 15, 2026
Compare current student loan payments and interest with a proposed refinance.
Estimated monthly savings
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- Current monthly payment: —
- Refinanced monthly payment: —
- Estimated lifetime savings: —
- Fee timing: —
On this page
Quick summary: Compare current student loan payments and interest with a proposed refinance.
Read the method, example and limitations
Updated reference sections in this guide are in English.
Guide language: English. Updated October 15, 2026.
What this calculator estimates
Student Loan Refinance Calculator
Inputs and units
Use the units shown for Student loan balance ($), Current interest rate (%), Current remaining term (years), New refinance rate (%), New refinance term (years), Refinance fees ($). Required fields cannot be blank. Use zero only where that field and the model allow it. Select Calculate after changing a scenario.
Method and assumptions
Compare the old balance at its current rate and remaining term with a new loan whose balance includes the entered fees. Report both monthly payments and the difference in total scheduled payments. Fees are financed, so there is no upfront fee-payment break-even in this model.
Worked example
For a 12,000 balance at 0% over two years, the payment is 500. Financing 1,200 in fees at the same rate and term raises the payment to 550 and total payments by 1,200.
Limitations
Different terms can lower the payment while increasing total cost. Federal repayment protections, forgiveness, variable rates, discounts and tax effects are excluded. Total-payment savings are not necessarily interest-only savings.