Purefy Student Loan Refinancing Calculator

Published on Author Bethany Sims

When you are considering student loan refinancing or student loan consolidation, a Student Loan Refinancing Calculator is a great tool to see how refinancing can help.  We are biased, but we built a pretty awesome student loan calculator.  In just 60 seconds, you can see your actual rates (regulators would prefer that we call it an estimate) and savings with only a few pieces of information.  The first step of the Purefy student loan process is our calculator that shows you real rates without pulling your credit.  We set out to create a better and more transparent refinancing process and it starts with showing you options and savings.

There are a lot of loan calculators out there but they are not all created equal.  Most sites just give you a range of rates and monthly payments.  You get a general idea of what you can save by refinancing, but you don’t really know what your real rate is going to be until you go through a lengthy application process. With Purefy’s Find My Rate tool, when you put in your accurate credit score and student loan information, we show you the exact rate (again, the regulators would prefer that we call it an estimate) , new monthly payment and lifetime savings from every term option we offer.  

Answer 5 Simple Questions To Find Your Rate: 

Student Loan Refinancing Calculator

You can start using our Student Loan Refinancing Calculator by clicking the “Find My Rate” button anywhere on the Purefy site.

1. Tell us about yourself

Purefy’s Student Loan Refinancing Calculator starts by asking you to select what kind of loan that you would like to refinance – Parent loans or Student Loans. Next, you’ll be asked to provide information about your degree.

and your credit score. Your student loan rates are based on these two factors so it’s important to put as close to your actual credit score as possible to get the most accurate rate. If you don’t know your credit score, check for free and without affecting your credit at NerdWallet.

2. Education

Enter the college that you attended.

3. Estimate and compare

Next, you’ll be asked to enter your credit score. This is a key factor that your student loan rate is based on, so it’s important to put as close to your actual credit score as possible to get the most accurate rate. If you don’t know your credit score, check for free without affecting your credit at NerdWallet.

4. Enter Your State Of Residence

You’ll be prompted to enter your state of residence here.

5. Enter Your Email and apply

Student Loan Refinancing Calculator

You are almost done and the savings are just a few clicks away! Purefy has selected the bast options for you and the last step is selecting the loan and completing the lender application. Our lenders have worked with Purefy to offer unique options that favor YOU. . . isn’t that refreshing! When you apply, you will need to decide if you will add a cosigner.  You will need their information to complete a cosigner application.

We were the first student loan refinancer to show your exact rate before a credit check or application.  The only thing left to do is figure out how you are going to use all of the money you are saving on life of your student loan.

Once you input your information, you will see all your actual interest rates and monthly payments with a range of options to help you choose the Purefy loan that is best for you.  Make sure you input your current loan information on section one to get the most accurate estimation of your savings – your current monthly payment is calculated for you based on what you enter.

You can compare how long it will take to pay off your loans by adjusting the term and reviewing the monthly payment options to find the loan package that is perfect for you.  If you are still building your credit, one option to save even more is to consider adding a cosigner.

Save more with a cosigner

One of the many Purefy advantages is our cosigner feature.  You can add a cosigner in the student loan calculator to see if you can save even more by adding a spouse or parent. Compare your interest rates with and without a cosigner to see what your new monthly payments and lifetime savings will be when you choose a Purefy Student Loan. 

We focus on saving you more over the life of the loan by helping you pay it off sooner.  When you are considering student loan refinancing, we encourage you to start with a goal and to determine how much you can afford to pay each month before you refinance.  Your goal may be to get out of debt as fast as possible.  That’s a great goal and something shared by many of our customers.  Consider your other expenses and retirement savings when you are choosing between 5, 8, 12 or 15 year terms.   Making sacrifices to get out of debt faster is a smart move but make sure you are still saving enough for emergencies.

Ready to refinance your student loans with Purefy? Go to Find My Rate and use our Student Loan Refinancing Calculator to see how much you could be saving.

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