The higher your current interest rate, the more you’ll benefit from refinancing to a lower rate.
A lower student loan rate will save you money as it charges less interest and will reduce monthly payments.
Any money left over is discretionary income, which you can decide what to do with.
Calculate 10 percent of that amount and you’ll get an idea of the monthly student loan payment you can afford.
This is the amount you owe to pay off student loans in full.