Calcida

Student Loan Refinance Calculator

Written by Calcida Team
Reviewed for accuracy and clarity
Last updated: April 2026

Compare your current student loans to a new refinanced rate to see how much you can save on interest and monthly payments.

This calculator is useful for borrowers estimating monthly payments and total interest on a fixed-rate loan You will typically enter Loan amount, Interest rate, Loan term.

The result represents monthly payment, total interest, and total cost If you are browsing similar tools, start with Loan Calculators or view the full calculators directory.

Also useful: Student Loan Calculator: Payoff Estimator, Loan Comparison Calculator: Compare Side-by-Side.

Estimated Savings

$46/mo
New Payment$415
Interest Saved$5,492

What should you do next?

Manage your loans with these additional calculators:

Debt Payoff Planner →
Budget CalculatorCredit Card Payoff

How This Calculator Works

This calculator estimates results using standard financial math based on the inputs you provide. It is designed for quick comparisons so you can understand how key variables affect the outcome.

  • Enter realistic inputs (amounts, rates, and time periods).
  • Review the computed result and any breakdown shown in the tool.
  • Change the loan amount, rate, and term to compare monthly payments and total cost.

For related tools and deeper comparisons, browse Loan Calculators.

Formula

M = P × [ i(1 + i)^n ] / [ (1 + i)^n − 1 ]
Where:
  • M = monthly payment
  • P = principal (loan amount)
  • i = monthly interest rate (annual / 12)
  • n = number of monthly payments
Total Interest ≈ (M × n) − P.

Example Calculation

Loan amount$25,000
Rate6.50%
Term5 years
Estimated monthly payment
≈ $489

Tips for Better Estimates

  • Use the best available rate (quote, current APR, or a conservative assumption).
  • Model multiple scenarios by changing one input at a time.
  • Include fees, taxes, and deductions when they materially affect the total.
  • Compare alternatives using the calculators directory or the related calculators section.

Explore Related Tools

Continue with Loan Calculators to compare similar calculators and validate your assumptions across different scenarios.

Frequently Asked Questions

Related Calculators

Student Loan Calculator: Payoff EstimatorLoan Comparison Calculator: Compare Side-by-SideMortgage Refinance Calculator: Is It Worth It?Parent PLUS Loan CalculatorAuto Loan Calculator: Estimate Monthly Car PaymentsMortgage Payment Calculator with Taxes and Insurance

Related Calculators