Student Loan Refinance Calculator
Student Loan Refinance Calculator
Consolidate multiple student loans, estimate refinancing savings, and calculate your break-even point.
Results
Net Lifetime Savings
$2,883.92
You will save $2,884 on interest
Comparison Summary
Combined Current Loans
Combined Balance$40,000
Weighted Rate6.31%
Current Monthly Payment$503
Current Total Interest$12,630
Current Total Payments$52,630
New Refinanced Loan
New Loan Amount$40,000
New Interest Rate4.50%
New Monthly Payment$415-$89
New Total Interest$9,746
New Total Payments$49,746
Amortization Balance
Refinanced Loan Amortization Schedule
| Year | Outstanding Balance | Annual Payments | Principal Paid | Interest Paid |
|---|---|---|---|---|
| 1 | $36,759 | $4,975 | +$3,241 | -$1,734 |
| 2 | $33,369 | $4,975 | +$3,390 | -$1,585 |
| 3 | $29,824 | $4,975 | +$3,546 | -$1,429 |
| 4 | $26,115 | $4,975 | +$3,708 | -$1,266 |
| 5 | $22,236 | $4,975 | +$3,879 | -$1,096 |
| 6 | $18,179 | $4,975 | +$4,057 | -$918 |
| 7 | $13,936 | $4,975 | +$4,243 | -$731 |
| 8 | $9,498 | $4,975 | +$4,438 | -$536 |
| 9 | $4,855 | $4,975 | +$4,642 | -$332 |
| 10 | $0 | $4,975 | +$4,855 | -$119 |