Refinancing federal or private student loans into a new fixed-rate private loan can lower your APR — and your monthly payment. Model both before you apply.
Estimates are for illustration only and assume a fixed-rate, fully-amortizing loan. Actual APR, fees, and payments depend on your lender, credit profile, and state. Kreditify is a loan comparison service, not a lender.
We use the standard amortization formula M = P × r / (1 − (1 + r)^−n), where P is the loan amount, r is your monthly rate (APR ÷ 12) and n is the number of monthly payments. A $25,000 student loan refinance at 7.5% APR over 120 months works out to roughly $297 per month.
APR bundles the interest rate with most lender fees, so it is the fairest number to compare offers with. Student Loan Refinance APRs on Kreditify typically fall between 3% and 15%, driven mainly by your credit profile, income stability, and the term you pick.
Stretching the term lowers the monthly payment but raises the total interest, because you owe the balance for longer. Run the same amount at 60 and 240 months to see both sides of that trade before you commit.
Origination fees deducted at funding, late fees, insurance add-ons, escrow, and taxes are excluded. Treat the result as a planning estimate, then confirm the exact figures on your lender's disclosure before signing.
Next step: see which refinance lenders will beat your current student loan APR.
Compare Student Loan Refinancing$5,000–$250,000 · soft-pull rate check, no credit score impactLocal APR bands, lender availability, and payment examples for the states where student loan refinance demand is highest.