Student Loan Refinancing Calculator

This student loan refinancing calculator shows you how much money you can save when you refinance student loans.

Top Picks For Student Loan Refinancing

November 2024

Fixed APR ?APR, or Annual Percentage Rate, is the price you pay to borrow money. Fixed APR means that your interest rate will always stay the same. Even if interest rates change, your interest rate or monthly payment will not. Fixed APR includes a 0.25% discount when you enroll in autopay.
Variable APR ?APR, or Annual Percentage Rate, is the price you pay to borrow money. Variable APR means that your interest rate can fluctuate over time, which can increase or decrease your monthly student loan payment. Typically, a variable-rate loan has a lower introductory rate than a fixed-loan rate loan. Variable APR includes a 0.25% discount when you enroll in autopay.
APR
4.49% - 9.99%
5.99% - 9.99%
4.49% - 9.99%
Get My Rate

View Details

on SoFi's website

Overview

Variable APR:
5.99% - 9.99%
Fixed APR:
4.49% - 9.99%
Minimum Credit Score:
650
Minimum Income:
None
Fees:
None
Minimum Loan Amount:
$5,000 ($10,000 in CA)

Details

Eligible Loans:
Private & Federal
Eligible Degrees:
Undergraduate & Graduate
Loan Terms:
5, 7, 10, 15, 20 years
Borrower Residency:
All states
Hardship Deferment:
Yes
Co-signer Option:
Yes

Review:

SoFi Student Loan Refinancing Review

3.95% - 9.74%
5.89% - 9.74%
3.95% - 9.74%
Get My Rate

View Details

on Earnest's website

Overview

Variable APR:
5.89% - 9.74%
Fixed APR:
3.95% - 9.74%
Minimum Credit Score:
650
Minimum Income:
None
Fees:
None
Minimum Loan Amount:
$5,000

Details

Eligible Loans:
Private & Federal
Eligible Degrees:
Undergraduate & Graduate
Loan Terms:
5-20 years
Borrower Residency:
All States except NV
Hardship Deferment:
Yes
Co-signer Option:
No

Review:

Earnest Student Loan Refinancing Review

5.19% - 9.74%
5.99% - 9.74%
5.19% - 9.74%
Get My Rate

View Details

on NaviRefi's website

Overview

Variable APR:
5.99% - 9.74%
Fixed APR:
5.19% - 9.74%
Minimum Credit Score:
680
Minimum Income:
None
Fees:
None
Minimum Loan Amount:
$5,001 ($10,001 in CA)

Details

Eligible Loans:
Private & Federal
Eligible Degrees:
Undergraduate & Graduate
Loan Terms:
5-20 years
Borrower Residency:
All States except NV
Hardship Deferment:
Yes
Co-signer Option:
No

Review:

NaviRefi Student Loan Refinancing Review

4.88% - 8.44%
4.86% - 8.49%
4.86% - 8.49%
Get My Rate

View Details

on ELFI's website

Overview

Variable APR:
4.86% - 8.49%
Fixed APR:
4.88% - 8.44%
Minimum Credit Score:
680
Minimum Income:
$35,000
Fees:
None
Minimum Loan Amount:
$10,000

Details

Eligible Loans:
Private & Federal
Eligible Degrees:
Undergraduate & Graduate
Loan Terms:
5, 7, 10, 15, 20 years
Borrower Residency:
All States
Hardship Deferment:
Yes
Co-signer Option:
Yes

Review:

ELFI Student Loan Refinancing Review

4.84% - 9.99%
5.89% - 9.99%
4.84% - 9.99%
Get My Rate

View Details

on Splash's website

Overview

Variable APR:
5.89% - 9.99%
Fixed APR:
4.84% - 9.99%
Minimum Credit Score:
640
Minimum Income:
None
Fees:
None
Minimum Loan Amount:
$5,000

Details

Eligible Loans:
Private & Federal
Eligible Degrees:
Undergraduate & Graduate
Loan Terms:
5 – 20 years
Borrower Residency:
All states
Hardship Deferment:
Varies
Co-signer Option:
No

Review:

Splash Financial Student Loan Refinancing Review

5.89% - 10.98%
7.02% - 12.44%
5.89% - 12.44%
Get My Rate

View Details

on Citizens' website

Overview

Variable APR:
7.02% - 12.44%
Fixed APR:
5.89% - 10.98%
Minimum Credit Score:
Not disclosed
Minimum Income:
$24,000
Fees:
No prepayment or origination fees
Minimum Loan Amount:
$10,000

Details

Eligible Loans:
Private & Federal
Eligible Degrees:
Undergraduate & Graduate
Loan Terms:
5, 7, 10, 15, 20 years
Borrower Residency:
All states
Hardship Deferment:
Yes
Co-signer Option:
Yes

Review:

Citizens Student Loan Refinancing Review

4.99% - 8.90%
5.29% - 9.20%
4.99% - 9.20%
Get My Rate

View Details

on Laurel Road's website

Overview

Variable APR:
5.29% - 9.20%
Fixed APR:
4.99% - 8.90%
Minimum Credit Score:
680
Minimum Income:
None
Fees:
None
Minimum Loan Amount:
$5,000

Details

Eligible Loans:
Private & Federal
Eligible Degrees:
Undergraduate & Graduate
Loan Terms:
5, 7, 10, 15, 20 years
Borrower Residency:
All States
Hardship Deferment:
Yes
Co-signer Option:
Yes

Review:

Laurel Road Student Loan Refinancing Review

5.49% - 9.75%
5.53% - 12.18%
5.49% - 12.18%
Get My Rate

View Details

on LendKey's website

Overview

Variable APR:
5.53% - 12.18%
Fixed APR:
5.49% - 9.75%
Minimum Credit Score:
680
Minimum Income:
$24,000
Fees:
None
Minimum Loan Amount:
$5,000

Details

Eligible Loans:
Private & Federal
Eligible Degrees:
Undergraduate & Graduate
Loan Terms:
5, 7, 10, 15, 20 years
Borrower Residency:
All states, except ME, ND, NV, RI, WV
Hardship Deferment:
Yes
Co-signer Option:
Yes

Review:

LendKey Student Loan Refinancing Review

Checking Your Rate Doesn't Affect Your Credit Score

Popular Questions

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 student loan refinance calculator, you can compare your current student loan payment with your new student loan payment, and see much money you can save with a lower interest rate, lower monthly payment, or both.

When should I use a student loan refinancing calculator?

You should use a student loan refinancing calculator before you refinance student loans. You can also use a student loan refinancing calculator once you have a new interest rate to calculate how much money you can save through student loan refinancing.

Will this student loan 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 can get 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 latest refinance rates and also check eligibility for student loan refinancing.
How do I use this student 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 the latest rates for student loan refinancing.
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:

  • Get a lower interest rate
  • Save money on the 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 can 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 interest rate or variable interest rate
  • You can lower your monthly payment, which means you could have extra money for other life expenses

Let's mentor your money

Get the latest personal finance advice delivered directly to your inbox.
Newsletter Subscription
chevron-down