How it works
Saving = total scheduled payments at the old rate minus total scheduled payments at the new rate minus refinance fee.
Input definitions
- Loan balance
- Enter the value in the labeled unit.
- Current annual rate (%)
- Enter the value in the labeled unit.
- Refinance annual rate (%)
- Enter the value in the labeled unit.
- Repayment years
- Enter the value in the labeled unit.
- Refinance fee
- Enter the value in the labeled unit.
A worked example
- Loan balance
- 40000
- Current annual rate (%)
- 7
- Refinance annual rate (%)
- 5
- Repayment years
- 10
- Refinance fee
- 0
Assumptions & limits
Uses only the values entered. Rates are illustrative inputs, not live quotes, legal rules or personalised advice. Check provider terms, local requirements and measurements before acting.
Sources & review
Maintained by AnsRio. Methods and examples use automated checks; this does not imply independent professional certification.
Method updated 2026-10-19. Content checked against the stated method and examples. Our verification approach.
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Common questions
What important benefits can refinancing remove?
A private refinance can change or remove deferment, forgiveness, subsidy and income-driven repayment features.
How does Student loan refinance interest comparison calculate the result?
Saving = total scheduled payments at the old rate minus total scheduled payments at the new rate minus refinance fee.
What should I verify before using Student loan refinance interest comparison?
Uses only the values entered. Rates are illustrative inputs, not live quotes, legal rules or personalised advice. Check provider terms, local requirements and measurements before acting.