Student Loan Refinancing Calculator
How Much Could Refinancing Save You?
Feel like you’re paying too much on your student loans? Use our Student Loan Refi Calculator to see how much you could save by refinancing your student loans with SoFi.
How to Calculate Your
Student Loan Savings
Our calculator shows how much you can save on your student loans by refinancing with SoFi. Just add in your current student loan information, and we’ll calculate your estimated savings—both monthly and over the lifetime of your loan. If you have multiple student loans, simply combine the loans and average their principal.
Enter Your
Current Loan
Compare a
SoFi Loan
Does refinancing make sense for you?
Est. Monthly
Savings
See methodology below*
$ -
By refinancing into a longer term and taking advantage of monthly payment savings, borrowers will generally pay more total interest over the life of the loan. Learn about our savings calculation.
Est. Lifetime
Savings
See methodology below*
$ -
Based on these numbers, you may want to consider refinancing now while rates are low. You could be saving an est $0 over the life of your loans!
P.S. our starting rates are lower than they’ve been in the last 2 years.
Now may not be the right time to refinance!
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*Calculated payments and savings are only estimates. All SoFi rates shown include the SoFi 0.25% autopay discount. You are not required to enroll in autopay. Estimated savings shown is based on the lowest SoFi APR of available rate ranges shown. For federal loans: we assume payments are made at the end of the month and that the current federal loan relief, which assumes 0% interest and no required payments until 12/31/2022, will expire on that date. When federal loan payments resume, we assume your federal monthly payment remains the same, and the maturity date will be pushed out the length of the current federal loan relief.Using the free calculator is for informational purposes only, does not constitute financial advice or an offer to receive a loan. Any payments and savings will depend on the actual amounts for which you are approved, should you choose to apply.
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