Student Loan Refinance Calculator

This calculator compares a refinance offer against staying on federal student loans, and it prices both halves of that decision. The first half is the easy one: the new payment, the interest saved and the difference over the term. The second half is what refinancing ends, because a refinanced loan is a private loan and the change cannot be undone, so entering your income-driven payment and the qualifying payments you still owe shows the balance that would have been forgiven and the cash each path actually costs. It reports plain cash totals over different lengths of time, models no tax and assumes nothing about your income, so treat it as a way to see the trade rather than a recommendation.