Who runs StudentLoanRefi? +
StudentLoanRefi is operated by Numerlyn LLC, an independent publisher of free educational calculators. We are not a lender, we don't originate loans, and we aren't affiliated with any specific refinancing company. Our goal is to help you understand the math behind a refinance decision before you talk to any lender.
Do you offer loans or refinancing directly? +
No. This site does not originate loans, take applications, run credit checks, or connect you to a lender's underwriting system. The calculator is a standalone educational tool; any decision to actually refinance happens directly with a lender or your current loan servicer, entirely outside this site.
What exactly is student loan refinancing? +
Refinancing means a private lender pays off one or more of your existing student loans and issues you a single new loan, typically with a different interest rate, term, or both. The new loan is a private loan, even if some or all of the original balance came from federal loans. That distinction matters a lot — see the next question.
Is refinancing the same as consolidation? +
No, and mixing these up is a common source of confusion. Federal loan consolidation combines multiple federal loans into one federal Direct Consolidation Loan and keeps you inside the federal loan system, preserving federal protections. Refinancing replaces a loan with a new private loan and removes it from the federal system entirely. If keeping federal protections matters to you, consolidation and refinancing are not interchangeable options.
What happens to federal protections if I refinance a federal loan? +
They're gone for that loan, permanently. Federal loans carry protections private refinance loans typically don't offer, including income-driven repayment plans that cap your payment relative to your income, federal deferment and forbearance during hardship, and forgiveness programs like Public Service Loan Forgiveness. Once a federal loan is refinanced into a private one, there is generally no way to reverse that and get those protections back on that debt.
Will refinancing hurt my credit score? +
Applying for a refinance loan typically involves a credit inquiry, which can cause a small, usually temporary dip in your score. Many lenders offer a way to check your likely rate with a soft inquiry first, before a full application triggers a hard inquiry — ask any lender you're considering which type of check they use at each stage, since practices vary by lender.
Can I refinance only some of my loans? +
In many cases, yes. Some borrowers choose to refinance only their private loans, or only the federal loans they're confident they won't need protections on, while leaving other federal loans untouched in the federal system. This calculator's math works the same way regardless of which loans you include — just enter the balance, rate, and term for whichever loans you're actually comparing.
What's a reasonable reason to consider refinancing? +
Refinancing tends to make the most sense when you have stable income, don't expect to need income-driven repayment or forbearance, aren't relying on a federal forgiveness program, and can qualify for a rate meaningfully lower than what you're currently paying. In that situation, refinancing purely private loans (or federal loans you're confident about) can genuinely reduce the total interest you pay.
When should I probably not refinance? +
If your income is variable or uncertain, you work in public service and are pursuing forgiveness, or you value having a safety net like income-driven repayment or forbearance available, refinancing federal loans removes flexibility you may need later — even if today's numbers look favorable. See our full
decision guide for a more complete breakdown.
Does this site earn money if I click a lender link? +
Any potential commercial relationships are disclosed clearly on our
Affiliate Disclosure page, and any such arrangement would never change the numbers this calculator shows you or which lender information you're free to seek out on your own. The calculator itself does not require you to click through to any lender to get a result.
How accurate is the savings estimate? +
The math itself — standard loan amortization, detailed on our
Methodology page — is accurate for the numbers you enter. What isn't guaranteed is whether the "new rate" you enter is a rate you'll actually qualify for; that depends on a lender's underwriting of your credit, income, and debt. Treat the output as a planning estimate, not a quote.
Is my data private? +
Yes. All calculations happen locally in your browser using JavaScript. Nothing you type into the calculator is transmitted to a server, logged, or stored anywhere, and the site does not require an account, email address, or any personal information to use.
Should I use a fixed or variable rate when I refinance? +
That depends on your tolerance for risk and how long you plan to take to repay the loan. A fixed rate stays the same for the life of the loan, so your payment is predictable. A variable rate can start lower but is tied to a market index and can rise (or fall) over time, which matters more the longer your repayment term is. If a lender quotes you a variable rate, ask what it could become under a rate increase and re-run this calculator with that higher number as a worst-case check.
Where can I get official information about my current federal loans? +
StudentAid.gov, the U.S. Department of Education's official site, is the authoritative source for your current federal loan type, balance, servicer, and which repayment or forgiveness programs you may already qualify for. We link to it throughout this site because it's the right place to confirm anything time-sensitive — rates, program rules, and eligibility details change, and this calculator does not track those updates.