Student Loan Refinance Calculator — Monthly Savings and Lifetime Interest
Calculate your monthly savings and total interest saved by refinancing student loans. Includes a forgiveness warning for federal borrowers considering private refinancing.
Refinancing saves about $12/mo and $1,433 over the loan — but you would give up federal forgiveness and IDR access if refinancing federal loans into a private lender.
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This is an educational estimate, not tax, legal, investment, or lending advice. Tax rules, rates, and eligibility change and depend on your full situation. Confirm with a qualified professional or the provider before acting.
Coach Insight
Refinancing a $50,000 student loan from 7% to 5% saves roughly $60/mo and $7,000 in lifetime interest on a 10-year term. But refinancing federal loans into a private lender permanently removes access to IDR plans, PSLF, and forgiveness programs. For some borrowers the savings are real; for others the forgiveness waiver makes it a bad trade. This calculator shows the math so you can decide.
Reviewed Jun 24, 2026 · Methodology
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Frequently Asked Questions
Frequently Asked Questions
Everything you need to know.
Why This Matters
Refinancing a $50,000 student loan from 7% to 5% saves roughly $60/mo and $7,000 in lifetime interest on a 10-year term. But refinancing federal loans into a private lender permanently removes access to IDR plans, PSLF, and forgiveness programs. For some borrowers the savings are real; for others the forgiveness waiver makes it a bad trade. This calculator shows the math so you can decide.
How to Use It
- 1Enter your numbers in the input panel.
- 2Review the live results and interpretation on the right.
- 3Use the compare outputs to compare options or plan the next step.
- 4Use the related links below if you want to move from analysis to action.
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