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.
Quick answer: Compare a current loan with an entered private-refinance quote, including fees, lifetime cost, and federal-protection warnings. Enter Does This Include Federal Student Loans?, Total Loan Balance, Current Fixed Interest Rate (%), and Remaining Loan Term (years) to personalize the estimate. It returns New Monthly Payment, Current Monthly Payment, and Monthly Payment Difference so you can compare the impact before choosing a next step. Use it to compare payment, APR, total cost, credit impact, and lender or card tradeoffs.
The modeled monthly-payment difference is $30 and the full-term borrowing-cost difference is $3,615. Positive values favor the refinance; negative values favor the current loan.
A lower payment can result from a longer term even when full-term borrowing cost increases. Compare both results before acting.
Compare student loan refi lendersIf any refinanced debt is federal, moving it to a private loan generally removes it from the federal student aid system and gives up federal repayment, forgiveness, discharge, deferment, forbearance, and relief protections.
Confirm your loan type and federal-benefit value before comparing private refinance rates. Private refinancing is generally irreversible.
Compare student loan refi lenders
- 1
Compare the leading option against your current setup
Compare a current loan with an entered private-refinance quote, including fees, lifetime cost, and federal-protection warnings.
- 2
Pressure-test one alternate scenario before deciding
Assumptions change the answer, especially when rates, taxes, or timing matter.
- 3
Save the result to Money Map or use the linked next action
Turn the result into a prioritized action instead of treating it as a one-off number.
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.
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Reviewed Aug 8, 2026 · Methodology
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<script>(function(){window.addEventListener("message",function(e){if(e.origin!=="https://www.switchwize.com")return;var d=e.data;if(!d||d.type!=="sw-embed-resize")return;var f=document.getElementsByTagName("iframe");for(var i=0;i<f.length;i++){if(f[i].contentWindow===e.source){f[i].style.height=d.height+"px";break;}}});})();</script>Frequently Asked Questions
Everything you need to know.
Should I refinance federal student loans?
What refinance rate should I enter?
Is the Student Loan Refinance Calculator — Monthly Savings and Lifetime Interest free to use?
Does using the Student Loan Refinance Calculator — Monthly Savings and Lifetime Interest affect my credit score?
Are the results personalized financial advice?
What should I do after seeing the result?
How does SwitchWize choose related offers?
How fresh are the rates and offers shown?
Where can I see the ranking methodology?
Can Money Map use this result?
Why This Matters
A refinance can lower the payment while raising lifetime cost if the new term is longer. Federal borrowers also lose federal repayment, deferment, discharge, and forgiveness protections when refinancing into a private loan.
How to Use It
- 1Enter your current balance, contractual rate, and remaining term
- 2Enter an actual refinance quote and any separately paid fee
- 3Compare both monthly payment and signed lifetime-cost difference
- 4Review federal protections before refinancing any federal loan
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