Student Loan Refinance Calculator
- August 14, 2018
- Posted by: Dave Rathmanner
- Category: Student Loans
If you are struggling to keep up with your payments and high interest rates, student loan refinancing is one option that can help. When you refinance, you basically take out a new loan with different terms than your original one. Then, you use that loan to pay off the first loan. Usually, when you refinance, you can get a much lower interest rate, helping you save money over the length of your repayment term. This student loan refinance calculator will show you what kind of savings you can expect through refinancing.
With refinancing, you can save money and simplify repayment, as you can switch from having multiple loan payments to one easy payment. Refinancing is only available from private lenders—it is not something you can do through the government—but you can refinance student loans from the federal government through private lenders.
Use our student loan refinance calculator to compare your current student loan terms with refinancing options. Find out if refinancing can help lower your monthly payments or save you in interest over the length of your loans. Enter your current loan terms to see how much interest you could save.
If you want to compare how much refinanced student loans with different repayment terms and interest rates will affect the total cost of your loan, check out our student loan comparison calculator. You can also see all of our student loan calculators here.
Author: Dave Rathmanner
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