Student Loan
Student Loan Refinance Calculator
Refinancing federal loans through a private lender trades away federal protections for a potentially lower rate. See the payment math before you decide.
Student Loan
Refinancing federal loans through a private lender trades away federal protections for a potentially lower rate. See the payment math before you decide.
Only private lenders offer student loan refinancing. If any of your loans are federal, refinancing moves them out of the federal system entirely, which means giving up income-driven repayment plans, federal forgiveness programs, and federal forbearance options in exchange for whatever terms the private lender offers.
If you have stable income, don't expect to need income-driven repayment or forgiveness, and can qualify for a meaningfully lower rate, refinancing can reduce both your payment and total interest. This calculator shows both sides of that trade.
Yes. Many borrowers refinance only their private loans, or only the federal loans they're confident they won't need federal protections on, and leave the rest alone.
Applying typically involves a hard credit inquiry, and opening a new account can briefly affect your score, similar to other loan applications.