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Education Refi Loan Calculator

Use this calculator to estimate a new payment and monthly savings by refinancing your student loans.

Education Refi Loan Calculator Definitions

Repayment option
Immediate Repayment Option: a payment amount is calculated based on the estimated new interest rate and a 15 year term. If a variable interest rate is selected the payment could change quarterly but would always be based on the remaining months of the initial 15 year term.

Graduated Repayment Option: the initial payment is calculated using the estimated new interest rate, the total owed on student loans and a 30 year term. This payment amount will be the payment for the first 2 years. A second payment amount is determined using the outstanding balance after 2 years, the estimated new interest rate, and a 13 year term. If a variable interest rate is selected the payment could change quarterly, but would be based on the remainder of a 30 year term in the first two years, and based on the remainder of a 13 year term after that.