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Student Loan Refinancing Calculator
Student Loan Refinancing Calculator to calculate how much interest savings that you can save by refinancing your student loan. The student loan refinance calculator will show you the new monthly payment with amortization schedule that breaks down all the interest and principal payments.
Student Refinance Calculator Results |
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New Monthly Payment: |
$976.10 | |||||
Payoff Date: |
Mar, 2030 | |||||
Total Interest Savings: |
$8,954.43 | |||||
Student Loan Refinance Amortization Schedule |
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| Payment Date | Payment # | Interest Paid | Principal Paid | Total Payment | Remaining Balance | |
|---|---|---|---|---|---|---|
| Apr, 2025 | 1 | $114.58 | $861.52 | $976.10 | $54,138.48 | |
| May, 2025 | 2 | $112.79 | $863.32 | $976.10 | $53,275.16 | |
| Jun, 2025 | 3 | $110.99 | $865.11 | $976.10 | $52,410.05 | |
| Jul, 2025 | 4 | $109.19 | $866.92 | $976.10 | $51,543.13 | |
| Aug, 2025 | 5 | $107.38 | $868.72 | $976.10 | $50,674.41 | |
| Sep, 2025 | 6 | $105.57 | $870.53 | $976.10 | $49,803.87 | |
| Oct, 2025 | 7 | $103.76 | $872.35 | $976.10 | $48,931.53 | |
| Nov, 2025 | 8 | $101.94 | $874.16 | $976.10 | $48,057.36 | |
| Dec, 2025 | 9 | $100.12 | $875.99 | $976.10 | $47,181.38 | |
| Jan, 2026 | 10 | $98.29 | $877.81 | $976.10 | $46,303.57 | |
| Feb, 2026 | 11 | $96.47 | $879.64 | $976.10 | $45,423.93 | |
| Mar, 2026 | 12 | $94.63 | $881.47 | $976.10 | $44,542.46 | |
| Apr, 2026 | 13 | $92.80 | $883.31 | $976.10 | $43,659.15 | |
| May, 2026 | 14 | $90.96 | $885.15 | $976.10 | $42,774.00 | |
| Jun, 2026 | 15 | $89.11 | $886.99 | $976.10 | $41,887.01 | |
| Jul, 2026 | 16 | $87.26 | $888.84 | $976.10 | $40,998.17 | |
| Aug, 2026 | 17 | $85.41 | $890.69 | $976.10 | $40,107.47 | |
| Sep, 2026 | 18 | $83.56 | $892.55 | $976.10 | $39,214.93 | |
| Oct, 2026 | 19 | $81.70 | $894.41 | $976.10 | $38,320.52 | |
| Nov, 2026 | 20 | $79.83 | $896.27 | $976.10 | $37,424.25 | |
| Dec, 2026 | 21 | $77.97 | $898.14 | $976.10 | $36,526.11 | |
| Jan, 2027 | 22 | $76.10 | $900.01 | $976.10 | $35,626.10 | |
| Feb, 2027 | 23 | $74.22 | $901.88 | $976.10 | $34,724.22 | |
| Mar, 2027 | 24 | $72.34 | $903.76 | $976.10 | $33,820.46 | |
| Apr, 2027 | 25 | $70.46 | $905.65 | $976.10 | $32,914.81 | |
| May, 2027 | 26 | $68.57 | $907.53 | $976.10 | $32,007.28 | |
| Jun, 2027 | 27 | $66.68 | $909.42 | $976.10 | $31,097.86 | |
| Jul, 2027 | 28 | $64.79 | $911.32 | $976.10 | $30,186.54 | |
| Aug, 2027 | 29 | $62.89 | $913.22 | $976.10 | $29,273.32 | |
| Sep, 2027 | 30 | $60.99 | $915.12 | $976.10 | $28,358.20 | |
| Oct, 2027 | 31 | $59.08 | $917.03 | $976.10 | $27,441.18 | |
| Nov, 2027 | 32 | $57.17 | $918.94 | $976.10 | $26,522.24 | |
| Dec, 2027 | 33 | $55.25 | $920.85 | $976.10 | $25,601.39 | |
| Jan, 2028 | 34 | $53.34 | $922.77 | $976.10 | $24,678.62 | |
| Feb, 2028 | 35 | $51.41 | $924.69 | $976.10 | $23,753.93 | |
| Mar, 2028 | 36 | $49.49 | $926.62 | $976.10 | $22,827.31 | |
| Apr, 2028 | 37 | $47.56 | $928.55 | $976.10 | $21,898.77 | |
| May, 2028 | 38 | $45.62 | $930.48 | $976.10 | $20,968.28 | |
| Jun, 2028 | 39 | $43.68 | $932.42 | $976.10 | $20,035.86 | |
| Jul, 2028 | 40 | $41.74 | $934.36 | $976.10 | $19,101.50 | |
| Aug, 2028 | 41 | $39.79 | $936.31 | $976.10 | $18,165.19 | |
| Sep, 2028 | 42 | $37.84 | $938.26 | $976.10 | $17,226.93 | |
| Oct, 2028 | 43 | $35.89 | $940.22 | $976.10 | $16,286.71 | |
| Nov, 2028 | 44 | $33.93 | $942.17 | $976.10 | $15,344.54 | |
| Dec, 2028 | 45 | $31.97 | $944.14 | $976.10 | $14,400.40 | |
| Jan, 2029 | 46 | $30.00 | $946.10 | $976.10 | $13,454.30 | |
| Feb, 2029 | 47 | $28.03 | $948.08 | $976.10 | $12,506.22 | |
| Mar, 2029 | 48 | $26.05 | $950.05 | $976.10 | $11,556.17 | |
| Apr, 2029 | 49 | $24.08 | $952.03 | $976.10 | $10,604.14 | |
| May, 2029 | 50 | $22.09 | $954.01 | $976.10 | $9,650.13 | |
| Jun, 2029 | 51 | $20.10 | $956.00 | $976.10 | $8,694.13 | |
| Jul, 2029 | 52 | $18.11 | $957.99 | $976.10 | $7,736.14 | |
| Aug, 2029 | 53 | $16.12 | $959.99 | $976.10 | $6,776.15 | |
| Sep, 2029 | 54 | $14.12 | $961.99 | $976.10 | $5,814.16 | |
| Oct, 2029 | 55 | $12.11 | $963.99 | $976.10 | $4,850.17 | |
| Nov, 2029 | 56 | $10.10 | $966.00 | $976.10 | $3,884.17 | |
| Dec, 2029 | 57 | $8.09 | $968.01 | $976.10 | $2,916.16 | |
| Jan, 2030 | 58 | $6.08 | $970.03 | $976.10 | $1,946.13 | |
| Feb, 2030 | 59 | $4.05 | $972.05 | $976.10 | $974.08 | |
| Mar, 2030 | 60 | $2.03 | $974.08 | $976.10 | $0.00 | |
Original vs. Refinance |
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| Original | Student Loan Refinance | |||||
| Monthly Payment | $600.00 | $976.10 | ||||
| Total Interest | $12,520.72 | $3,566.29 | ||||
| Total Principal | $55,000.00 | $55,000.00 | ||||
| Total Payment | $67,520.72 | $58,566.29 | ||||
| Total Interest Savings | $0 | $8,954.43 | ||||
| Payoff Date | Aug, 2034 | Mar, 2030 | ||||
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