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Debt consolidation calculator

A lower payment feels good, but what matters is whether you pay less overall. Add your debts and the loan you're considering, and we'll show you both. Nothing you type leaves your browser.

Debt consolidation calculator

Example numbers are filled in so you can see how it works. Swap in your own.

What you owe today

Add up what you pay on all of these debts in a month.

The loan you have been offered

Before fees. If all you have is the lender's APR, enter it here and set the fee to 0%.

3 yr

Lenders usually take this out of the loan before you receive it.

Your result

New monthly payment

$410.13

$55 more each month than you pay now.

Saves money

Good news: on these numbers the loan would save you about $3,900.39 compared with where you are now.

You'd save
$3,900

over the whole loan

All-in APR
17.6%

this offer, fees included

Number to beat
35.4%

break-even APR

Doing nothing isn't free: your debts add about $231.80 in interest every month at today's rates.

See how we worked this out
Measure
 
Today
With loan
Monthly payment
$355.00
$410.13
Debt-free in
4 yr 5 mo
3 yr
Interest + fees
$7,265.12
$3,364.74

You would borrow $12,000.00 to receive $11,400.00 after a $600.00 fee. That is what it takes to clear the debts above.

Your monthly payment would go up by $55.13, but you would be debt-free 17 months sooner.

The break-even rate, in plain words. On a 36-month term, any offer with an all-in APR below 35.4% beats your current path, and anything above it costs you more. It works however the lender splits the cost between rate and fee.

A few honest limits: we assume you keep paying today's amount on each debt until it is gone and add no new debt. Card minimums usually shrink as balances fall, so real life can differ a little. This is an illustration, not an offer or advice. Borrowing costs money, and late payments may harm your credit score.

How to read your result

  • Monthly payment is what you'd pay on the new loan. It can be lower even when the loan costs more overall, because a longer term spreads the cost out.
  • Interest + fees is the true price of each path. This is the comparison that matters.
  • All-in APR counts the fee as well as the interest rate, so it's the fair number to compare offers by.
  • Number to beat is the break-even APR: offers below it save you money, offers above it cost you more.

Want the whole picture? Read our debt consolidation guide.

Borrowing costs money. Late payments may harm your credit score. Only borrow what you can afford to repay.

This content is for general education only and is not financial, legal or tax advice.