Student loan refinancing involves replacing your existing student loans with a new loan at a different interest rate. This calculator helps you determine whether refinancing makes financial sense based on your current loan terms and available refinancing rates.
Federal vs Private: Refinancing federal loans with a private lender means losing federal benefits like income-driven repayment plans, loan forgiveness programs, and deferment options.
Credit Requirements: Most lenders require a credit score of 650+ and stable income.
Term Length: Extending your loan term lowers monthly payments but increases total interest paid.
Our calculators use industry-standard formulas sourced from authoritative references including government agencies, academic institutions, and professional organizations. We validate all calculations against multiple independent sources.
Results are estimates for educational purposes. Professional advice from a licensed expert is recommended for important financial, health, or legal decisions.