Student Loan Refinancing Calculator

Interested in refinancing your student loans? Our Student Loan Refinancing Calculator can help compare your current student loan rates with rates for refinancing student loans. Calculate how much you can save or lower your monthly payments by refinancing your student loans.

Original loanNew loanSavings
Total interest paid$10,998$9,527+ $1,471
Monthly payment$383$371+ $12/mo
Interest rate5.7%4.99%+ 0.71%
Term in years10yr10yr
Refinancing $35,000 in student loans at a rate of 4.99% with a 10-year term would save $1,471 in interest paid as well as reduce your monthly payments by $12/mo.

Student loan refinancing rates as low as 2.34% APR. Check your rate 2 minutes.

Total payment

Monthly payment

Current Loan

$10,998

February 2027

New Loan

$9,527

February 2027

$0
$1,000
$3,000
$4,000
$5,000
$7,000
$8,000
$10,000
$11,000

Student Loan Refinancing Calculator FAQs

1. Does this calculator tell me what refinancing rates I’m eligible for?

No. This calculator simply provides savings estimates based on the refinancing rates you input into the calculator. To see what rates are available and check your eligibility, see our top partners for refinancing student loans here.

2. How do I find student loan refinancing rates and terms?

See our top partners for refinancing student loans here to view available rates and terms. To find out what rate you may be eligible for, please visit the lender websites. Most of the lenders we’ve partnered with are able to check eligibility and provide a rate with a “soft” credit pull in just two minutes.

3. How do I calculate my average interest rate?

If you have multiple student loans, use our Weighted Average Interest Rate calculator to find your average interest rate.

4. Should I refinance my student loans?

That depends on several different factors. We recommend reviewing these posts and others to decide for yourself:

Interested in refinancing student loans?

Here are the top 6 lenders of 2017!
LenderRates (APR)Eligible Degrees 
Check out the testimonials and our in-depth reviews!
2.34% - 6.74%Undergrad & GraduateVisit SoFi
3.64% - 7.20%Undergrad & GraduateVisit DRB
2.55% - 6.74%Undergrad & GraduateVisit Earnest
2.35% - 7.74%Undergrad & GraduateVisit CommonBond
2.22% - 7.26%Undergrad & GraduateVisit LendKey
2.38% - 8.24%Undergrad & GraduateVisit Citizens
Advertiser Disclosure

Student Loan Hero Advertiser Disclosure

Our team at Student Loan Hero works hard to find and recommend products and services that we believe are of high quality and will make a positive impact in your life. We sometimes earn a sales commission or advertising fee when recommending various products and services to you. Similar to when you are being sold any product or service, be sure to read the fine print, understand what you are buying, and consult a licensed professional if you have any concerns. Student Loan Hero is not a lender or investment advisor. We are not involved in the loan approval or investment process, nor do we make credit or investment related decisions. The rates and terms listed on our website are estimates and are subject to change at any time. Please do your homework and let us know if you have any questions or concerns.