Student Loan Refinance Tax Impact Calculator
Refinancing can cut your rate — but if you're leaving federal loans, you lose IDR, PSLF, and deferment protections. Plus your student loan interest deduction may change.
Current Loan
Refinance Offer
Current Payment
$382New Payment
$395Monthly Savings
-$13Tax & Protection Impact
Interest Deduction Change
−$52
After-Tax Annual Savings
-$167
Refinancing federal loans means losing:
- • Losing IDR income-driven repayment: payments tied to income
- • Losing PSLF: public service loan forgiveness after 120 payments
- • Losing federal deferment/forbearance: mandatory relief during economic hardship
- • Losing death/disability discharge: federal loans are discharged upon total disability or death
Related Calculators
Student Loan Repayment
SAVE/PAYE/IBR plans, forgiveness timelines, payment calcs
Student Loan Interest Deduction
$2,500 cap §221 above-the-line, MAGI phase-out $85k-$100k single / $175k-$205k joint
Student Loan Forgiveness Tax Bomb
IDR forgiveness tax liability: ARPA expires 12/31/25 — project your tax bomb and savings plan