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Student Loan Refinance Calculator
See whether refinancing your student loan actually saves money.
Enter values to see your result
Frequently asked questions
When does refinancing make sense?
When the new rate is at least 0.5–1% lower, you have a good credit score (680+), and you do not need federal protections like income-driven repayment or forgiveness.
Should I refinance federal loans?
Refinancing federal loans with a private lender forfeits federal benefits (income-driven repayment, deferment, forgiveness programs). Only do it if the rate savings clearly outweigh what you lose.
Are there fees for refinancing?
Most student loan refinances have zero origination fee. Always confirm with the lender before signing.
Does refinancing affect my credit score?
A hard credit pull temporarily drops your score a few points. Within 6–12 months this usually normalises, and the new healthier balance can improve your score.