$18,300 consolidated at 10.5%
- Current payoff time
- 37 months
- Monthly payment change
- -$55.21
- Total cost change
- -$2,023.05
- Fees added
- $300.00
A lower payment can still cost more if the new term is much longer.
Debt Consolidation Calculator
Use this free debt consolidation calculator to compare current payoff time and cost with a new consolidation loan payment, fees, monthly payment change, and total cost change.
Formula steps Estimate limits shown Examples included Private history
Formula steps
- Estimate current payoff using the current average rate and monthly payment.
- Add any fees to the new consolidated loan principal.
- Estimate the new fixed loan payment over the new term.
- Compare monthly payment and total paid between the two scenarios.
How to use the debt consolidation calculator
- Enter the requested dollar amounts, rates, terms, tax settings, or contribution details.
- Use rates as percentages, such as 6.5 for 6.5%, and check whether a field asks for a monthly or annual amount.
- Press the calculate button to see the answer, supporting metrics, and formula steps.
- Use the result as a planning estimate only, then copy it if the assumptions look right.
Common uses
Compare a consolidation loan with the current debt payoff path.
Estimate whether a lower rate offsets fees.
See when a lower monthly payment may raise total cost.
Prepare questions before applying for a consolidation offer.
Examples
New payment and cost change
Consolidation comparison
Payment relief versus total cost
Frequently asked questions
Plain-language answers about when to use the estimate, what your numbers mean, what is left out, and how privacy works.
When should I use the Debt Consolidation Calculator?
Use it for early planning and side-by-side comparisons, especially for tasks like these: Compare a consolidation loan with the current debt payoff path. Estimate whether a lower rate offsets fees. Treat the answer as a planning estimate, not a final quote.
What is the Debt Consolidation Calculator doing with my numbers?
In plain language: The calculator estimates current debt payoff with the current payment, then compares it with a new fixed-payment loan after adding any consolidation fees. If the result seems too high or too low, first check whether each field expects a monthly amount, annual amount, dollar value, or percent.
What does this estimate leave out?
This does not determine approval or credit impact. It does not include balance transfer rules, origination terms, hardship plans, settlement offers, or provider-specific fees. Real finance decisions can also depend on fees, timing, local rules, credit details, and provider-specific terms.
Does the site save my finance inputs?
No. The calculator runs in your browser tab. Recent answers stay only on the page while you use it, and they are not sent to a server.