Student Loan Consolidation Calculator
Looking to find out how much you can save by consolidating your loans? We can help. Our student loan consolidation calculator will show you how much you can save on your monthly payments.
To use this consolidation calculator, all you need are your loan amounts, interest rates, and your credit rating. Not sure where to find this information? It's all tracked in your credit report. Get your credit report now.
Ready to consolidate? Get started now »
Other helpful resources
Find your loan information
If you're not sure what type of loans you have or who services them, there are ways to find out. Learn how to locate your student loans so you can begin the consolidation process.
Frequently asked questions about consolidation
Find answers to some of the most common consolidation questions with federal loan consolidation FAQs or private loan consolidation FAQs.
Avoid student loan default
Struggling to make your payments? There are still ways to make payments more manageable. Learn about student loan default and how to avoid it.
Student loan forgiveness
Did you know that some student loans can be forgiven? Find out more about federal student loan forgiveness and discharge.
*All calculations are estimates. These results may vary with the exact loan terms determined by your lender.
Federal monthly payment calculations
Payment before consolidation is the sum of monthly payments for all federal loans and assumes a standard, ten-year repayment term. Payment after consolidation takes a weighted average of the interest rates entered, and calculates monthly payment based on a set repayment term (number of months in repayment). Repayment term is determined by a student's total education indebtedness where the term increases as loan balance increases (see chart below).
| Total education indebtedness | Repayment term (months) |
|---|---|
| Less than $7,500 | 120 |
| $7,500 - $9,999 | 144 |
| $10,000 - $19,999 | 180 |
| $20,000 - $39,999 | 240 |
| $40,000 - $59,000 | 300 |
| $60,000 or more | 360 |
Private monthly payment calculations
Payment before consolidation is the sum of monthly payments for all private loans and assumes a 15-year repayment term. Payment after consolidation assumes a 20-year repayment term and calculates a new interest rate based on PRIME + a margin depending on a student's credit (1.00% good credit, 3.375% average credit, 5.75% bad credit).
