Current Loan

$5K $100K
1 yrs. 20 yrs.

New Loan

Monthly Payment
Total Loan Cost
5 yrs.

20 yrs.

Remember the faster you pay, the more you save


Savings Breakdown

Enter loan details to see your opportunities to save.

How to use the student loan calculator:

  1. Enter the details of your current loan. e.g. loan type, outstanding loan amount, years remaining and current monthly payment
  2. Decide what’s most important to you — reducing your monthly payment or reducing the total amount you’ll pay over time. Spreading payments out over more years will reduce your monthly payment, but increase the total amount you pay over time. Reducing the number of years will reduce the total amount you’ll pay over time but increase your monthly payment.
  3. Select how many years you’d like to pay off your loan, and enter the interest rate you are hoping to pay. Not sure what interest rate to enter? Visit the Compare Rates page to see current rates from our lending partners.
  4. Review your Loan Breakdown. Click the “Get my rate in 3 minutes” button to see rates you can get from our lending partners.

Loan Refinance Calculator Disclaimer: The calculator on this page compares an individual's current student loan to an interest rate the individual assumes they qualify for. The calculator assumes: (1) the existing loan is being repaid under a standard repayment plan where the individual makes consecutive monthly payments based on the number of monthly payments remaining as shown by years remaining on the loan as inputted by the user; (2) the current loan has a fixed interest rate over the remaining term of the loan, and (3) the monthly payment amount the user inputs pays off the loan in the number of years and monthly payments remaining.

This page's information is for general personal finance education and is not intended to provide legal, financial, or tax advice. The accuracy of the calculated results is not guaranteed, and products are intended for illustrative purposes only. This calculator does not indicate whether you would qualify for a loan with one of's lending partners.

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