See if refinancing actually saves you money
Run your own numbers before you apply. Our calculator shows your new payment and your total interest, including when a lower payment costs you more in the end.
Before you refinance federal loans: Refinancing federal student loans with a private lender means you permanently lose access to federal benefits such as income-driven repayment, forgiveness programs, and federal deferment or forbearance.
Sources: Federal Student Aid, CFPB, Federal Student Aid
Refinance savings calculator
Example numbers only. Enter your own from your loan statement. Use the APR from a real offer, not an advertised starting rate.
Common terms are offered in years. 120 months is 10 years.
Current monthly payment
$415.46
New monthly payment
$388.57
Monthly savings
$26.88
Total interest saved
$3,226
Total interest: $14,855 now vs $11,629 after refinancing.
Assumes a fixed rate, on-time payments and no fees. Results are estimates, not an offer.
Compare offers from several lenders at once
Marketplaces let you see offers from multiple lenders in one place. Listed alphabetically.
Advertiser disclosure: We may earn a commission if you check rates or get a loan through links on this page. This does not affect our recommendations. How we make money
Credible
MarketplaceAn online marketplace where you can compare offers from several student loan lenders in one place.
Splash Financial
MarketplaceAn online marketplace for student loan refinancing offers from partner lenders.