Student Loan Refinancing Calculator 

To refinance your student loans, the first step is to use a student loan refinancing calculator.

Here’s how to use a student loan refinancing calculator to see how much money can save when you refinance student loans.

Student Loan Refinancing Calculator: An Overview

Student loan refinancing helps you lower your interest rate and monthly payment to help you pay off your student loans faster. You can choose a fixed interest rate or variable interest rate, and can choose a loan payment term from 5-20 years.

A student loan refinancing calculator will help you understand how much money you can save through student loan refinancing. You can find an excellent student loan refinancing calculator for free online, and all you need to do is enter a few inputs.

Here is how it works.

Student Loan Refinancing Calculator: How It Works:

There are only a few inputs in a student loan refinancing calculator. First, enter your current student loan information, including student loan balance, interest payment, monthly payment and loan term. If you have multiple student loans, combine them into a single student loan with a single student loan interest rate for purposes of the student loan refinancing calculator.

Second, enter the new student loan information into the student loan refinancing calculator. This will include your anticipated new interest rate and loan term. Now, let’s look at the results.

Student Loan Refinancing Calculator: The Results

The student loan refinancing calculator will show you the following as a result of refinancing your student loans: your interest rate savings, your monthly savings and your total savings. Plus, you will see how much faster you can pay off your student loans.

As you can see, a student loan refinancing calculator is an essential tool that you need when you refinance student loans.