How do I compare student-loan refinance monthly and lifetime savings?
Calculate the current and new fixed payments from balance, APR, and term. Lifetime savings equals current remaining interest minus refinanced interest and the entered fee.
Money & mortgage
Student loan refinance calculator
Compare student-loan payments, total interest, fees, savings, and the refinance break-even point.
- USD inputs · transparent calculation assumptions
- Instant updates as inputs change
- Data is calculated in this browser only
Private refinancing of federal loans may permanently remove federal repayment, relief, and forgiveness benefits.
Estimated lifetime savings after fee$4,205.86
- Current monthly payment
- $517.86
- Refinanced monthly payment
- $482.81
- Monthly payment savings
- $35.05
- Current remaining interest
- $17,143.38
- Refinanced interest
- $12,937.52
- Refinance fee
- $0.00
- Fee break-even time
- 0 months
Calculation notes
Understand the Student loan refinance calculator
Calculate the current and new fixed payments from balance, APR, and term. Lifetime savings equals current remaining interest minus refinanced interest and the entered fee. The calculation runs locally and keeps cash-flow timing consistent with the stated assumptions.
Can a lower refinance rate cost more with a longer term?
A lower rate can still raise total interest if the new term is much longer. Compare the monthly savings with lifetime savings after the fee.
How is a student-loan refinance fee break-even month calculated?
- A positive lifetime result means the modeled interest reduction exceeds the fee.
- Federal loans refinanced into a private loan leave the federal student-aid system and can lose federal benefits.
Which federal student-loan benefits may be lost after private refinancing?
- This fixed-rate comparison does not value federal repayment plans, forgiveness, deferment, forbearance, subsidies, variable rates, credit qualification, or tax deductions. Review the lender offer and federal-loan benefits before acting.
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