Student Loan Refinancing Calculator | Student Loan Refinance Calculator

Student Loan Refinancing Calculator

Step 1: Enter Current Loan Info
Student Loan Balance
Average Interest Rate
Remaining Loan Term (years)
Step 2: Enter New Loan Info
New Interest Rate
New Loan Term (years)
CURRENT LOAN NEW LOAN SAVINGS
MONTHLY PAYMENT
$300
MONTHLY PAYMENT
$300
MONTHLY SAVINGS
$300
TOTAL INTEREST PAID
$300
TOTAL INTEREST PAID
$300
LIFETIME SAVINGS
$300

Student Loan Refinancing Calculator

Lender
Rates (APR)
Minimum Credit Score

Overview

Variable Rates:2.46% - 6.97%
Fixed Rates:3.89%- 7.89%
Average Savings:-
Minimum Credit Score:650
Minimum Income:None
Fees:None

Details

Eligible Loans:Private & Federal
Minimum Loan Amount:$5,000
Loan Terms:5-20 years
Borrower Residency:All States except AL, DE, KY, NV, RI
Unemployment Protection:Yes
Co-signer Option:No

Overview

Variable Rates:2.47% - 6.99%
Fixed Rates:3.90% - 7.98%
Average Savings:-
Minimum Credit Score:650
Minimum Income:None
Fees:None

Details

Eligible Loans:Private or Federal
Minimum Loan Amount:$5,000
Loan Terms:5, 7, 10, 15, 20 years
Borrower Residency:All states
Unemployment Protection:Yes
Co-signer Option:Yes

Overview

Variable Rates:2.57% - 8.44%
Fixed Rates:5.13% - 8.97%
Average Savings:$15,270
Minimum Credit Score:680
Minimum Income:$24,000
Fees:None

Details

Eligible Loans:Private & Federal
Minimum Loan Amount:$5,000
Loan Terms:5, 7, 10, 15, 20 years
Borrower Residency:All states, except ME, ND, NV, RI, WV
Unemployment Protection:Yes
Co-signer Option:Yes

Overview

Variable Rates:2.55% - 6.01%
Fixed Rates:3.09% - 6.69%
Average Savings:$20,936
Minimum Credit Score:680
Minimum Income:$35,000
Fees:None

Details

Eligible Loans:Private & Federal
Minimum Loan Amount:$15,000
Loan Terms:5, 7, 10, 15, 20 years
Borrower Residency:All States
Unemployment Protection:Yes
Co-signer Option:Yes
1.95% - 4.45%
Excellent

Overview

Variable Rates:-
Fixed Rates:1.95% - 4.45%
Average Savings:-
Minimum Credit Score:Excellent
Minimum Income:-
Fees:-

Details

Eligible Loans:Private & Federal
Minimum Loan Amount:$25,000 with graduate degree ($40,000 with undergraduate degree)
Loan Terms:5, 7, 10, 15 years
Borrower Residency:Only for the residents of New York City, San Francisco, Palo Alto, Los Angeles, Newport Beach, San Diego, Portland (Oregon), Boston, Palm Beach (Florida) or Greenwich
Unemployment Protection:-
Co-signer Option:Yes

Overview

Variable Rates:3.05% - 6.47%
Fixed Rates:3.50% - 7.02%
Average Savings:$20,200
Minimum Credit Score:660
Minimum Income:None
Fees:None

Details

Eligible Loans:Private & Federal
Minimum Loan Amount:$5,000
Loan Terms:5, 7, 10, 15, 20 years
Borrower Residency:All states
Unemployment Protection:Yes
Co-signer Option:Yes

Advertiser Disclosure

What is a student loan refinancing calculator?

This free student loan refinancing calculator shows you much money you can save through student loan refinancing. With this refinance calculator, you can compare your current student loan payment with your new student loan payment, and see much money you can save with lower refinance rates.

How do I use a student loan refinancing calculator to find the best refinance rates?

This student loan refinancing calculator shows you much money you can save based on the refinance rates that you input in the loan refinance calculator. To check the latest refinance rates, please see the best student loan refinance rates.

Will this refinance calculator tell me which student loan refinance rates I can qualify for?

This student loan refinancing calculator shows you much money you can save through student loan refinancing. When you refinance student loans, you receive a lower interest rate for your student loans, which potentially can save you tens of thousands of dollars on your student loans. In addition to using this loan refinance calculator, you can compare the best refinance rates and also check eligibility for student loan refinancing.

How do I use this loan refinance calculator?

This student loan refinancing calculator is easy to use and will help show you much money you can save from student loan refinance.

Step 1: Enter your current student loan balance

Step 2: Enter your average rate

Step 3: Enter your remaining loan term (which is how many years left until your student loans are required to be paid off)

Step 4: Enter your new student loan interest rate (this interest rate should be lower than your current interest rate. You can view and compare Make Lemonade’s latest student loan rates.

Step 5: Enter your new loan term when you refinance your student loans (typically this is between 5-20 years)

Then, this student loan refinancing calculator will automatically calculate your savings. This loan refinances calculator will tell you how much you can save each month and how much money you can save over the life of your student loans.

Should I refinance my student loans?

Student loan refinance is an important choice to evaluate when it comes to your student loan debt. Here are some helpful resources to help you make an informed decision:

Is refinancing student loans worth it?

With student loan refinancing, you can potentially save tens of thousands of dollars on your student loans. As shown in this student loan refinancing calculator, you can cut your student loan payments and participate in the following key benefits when you refinance student loans:

  • Receive a lower interest rate
  • reduce the total amount of interest that you pay
  • combine your existing federal and private student loans into a single student loan
  • make one student loan payment per month
  • have only one student loan servicer
  • A lower monthly payment means you will lower your debt-to-income ratio, which can help you qualify for other financial products such as a personal loan, mortgage or auto loan
  • You can pay off your student loans faster
  • You can choose either a fixed rate student loan or variable rate student loan
  • You can lower your monthly payment, which means you could have extra money for other life expensesv
Student Loan Refinancing Calculator
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