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Want to save money on your education loan monthly payment? Refinance with MEFA and join borrowers already saving on average $206 per month and $2,475 per year<sup>1</sup> on their education loan monthly payments. Use our Loan Refinancing Calculator to estimate how your monthly payment will change with a MEFA Education Refinancing Loan.

Enter information about your existing college loan debt, the type of refinance interest rate you prefer, and your credit profile. Once you have your results, you can change one or more of your details and click “CALCULATE” to quickly see updated results.

Your Results*

Current Monthly PaymentNew Monthly Payment
  •  Your estimated new monthly payment
  •  Estimated Monthly Savings
  •  Estimated APR* Based on a repayment term
  •  Estimated Annual Savings
<sup>1</sup>We want to ensure you know everything about this product before you apply. Our average monthly payment and average interest rate reductions are based on MEFA REFI Loan borrowers who refinanced their loans from January 5, 2016 through August 31, 2018. The minimum MEFA Education Refinancing Loan amount is $10,000. The average monthly payment reduction is the average difference between the previous student loan monthly payment and the new MEFA REFI Loan monthly payment. This calculation is for all MEFA REFI Loans where the MEFA borrower has made the decision to reduce their monthly payment. For variable rate MEFA REFI Loans, this calculation is based on the variable interest rate initially in effect on the MEFA REFI Loan. The total repayment amount may be higher on the MEFA REFI Loan than on the refinanced loan despite the new lower monthly payment.