Debt Consolidation Calculator
Compare your existing debts with a consolidation loan to estimate your monthly payment, total interest, savings and payoff time.
Your Current Debts
Enter your outstanding balances, APRs and monthly payments.
Proposed Consolidation Loan
Enter the terms of the new loan you are considering.
Debt Consolidation Comparison
Break-Even Analysis
Break-even is based only on the difference between current and proposed monthly payments. It does not account for taxes, credit-score effects, prepayment penalties or changes in loan terms.
What If You Pay More?
See how additional monthly payments could shorten the consolidation loan and reduce interest.
| Monthly Payment | Payoff Time | Total Interest | Interest Saved |
|---|---|---|---|
| $0 | — | $0 | $0 |
| $0 | — | $0 | $0 |
| $0 | — | $0 | $0 |
| $0 | — | $0 | $0 |
Debt Balance Comparison
Estimated remaining balance under the current-debt and consolidation scenarios.
What the Numbers Suggest
*Estimated current-debt interest assumes each debt is repaid using its entered monthly payment and a fixed APR. Actual credit-card and loan calculations may differ.
How to Use the Debt Consolidation Calculator
Enter your current debts, including each balance, annual percentage rate and monthly payment. Then enter the proposed consolidation loan's interest rate, term and fees. The calculator compares your current debt payments with the estimated payment and total cost of the new loan.
What Is Debt Consolidation?
Debt consolidation combines multiple debts into a new loan or financial arrangement. The goal may be to simplify payments, reduce the interest rate, or create a more manageable repayment structure. The actual benefits depend on the interest rate, fees, repayment period and terms of the new loan.
Does Debt Consolidation Save Money?
A consolidation loan may reduce interest costs when its effective cost is lower than the cost of the debts being replaced. However, extending the repayment period can increase the total amount of interest paid even when the monthly payment becomes smaller. Compare both monthly payments and total costs before making a decision.
The Debt Consolidation Calculator USA is a free online tool that helps you compare your existing debts with a potential debt consolidation loan. Enter up to five debts, including credit cards, personal loans, auto loans, or other balances, along with their current balances, interest rates, and monthly payments. Then enter the proposed consolidation loan’s APR, repayment term, and applicable fees. The calculator estimates your new monthly payment, total interest, total cost, monthly payment difference, potential savings, payoff time, and approximate break-even period. You can also compare how making additional payments may reduce the repayment period and interest costs. This tool is useful for people considering debt consolidation and wanting to understand whether a new loan could make their debt easier or less expensive to manage. Results are estimates for educational purposes only and actual costs may vary based on lender terms, fees, interest calculations, and individual circumstances.