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Updated February 2026โขโฑ๏ธ 10 min readโข๐ Student Loans
Should You Refinance Your Student Loans? The Math You Need to Know
A lower rate can save thousands, but refinancing federal loans can mean losing protections like income-driven repayment and forgiveness. Here's how to run the math.
Simulate your new monthly payment
Compare your current payment to a refinanced rate.
The math: interest savings vs term length
A lower rate can reduce total interest, but extending the term can offset savings. Compare total interest and payoff timelines, not just the monthly payment.
Federal protections you give up
- โข Income-driven repayment plans
- โข Public Service Loan Forgiveness eligibility
- โข Deferment and forbearance options
When refinancing makes sense
Refinancing can be smart if you have stable income, high-interest private loans, and no plans to use federal programs. Always run the numbers first.
AG
Anand Godar
Financial engineer and founder of QuantCurb. Former fintech data scientist building institutional-grade calculators for everyday wealth decisions.
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