Debt Consolidation Calculator
Compare your current repayment path with a proposed consolidation loan and see the payment, interest, and total cost difference.
Results
New Monthly Payment
$761.80
Current monthly payment: $844.61
Monthly Difference
$82.81
Interest Saved
$5,174.86
New Loan Amount
$29,200.00
Total Cost Difference
$3,974.86
Amortization Schedule
| Month | Principal | Interest | Balance |
|---|---|---|---|
| 1 | $481.97 | $279.83 | $28,718.03 |
| 2 | $486.59 | $275.21 | $28,231.45 |
| 3 | $491.25 | $270.55 | $27,740.20 |
| 4 | $495.96 | $265.84 | $27,244.24 |
| 5 | $500.71 | $261.09 | $26,743.53 |
| 6 | $505.51 | $256.29 | $26,238.03 |
| 7 | $510.35 | $251.45 | $25,727.67 |
| 8 | $515.24 | $246.56 | $25,212.43 |
| 9 | $520.18 | $241.62 | $24,692.25 |
| 10 | $525.17 | $236.63 | $24,167.08 |
| 11 | $530.20 | $231.60 | $23,636.88 |
| 12 | $535.28 | $226.52 | $23,101.60 |
How the debt consolidation comparison works
The calculator models your current debt as one blended fixed-rate repayment path, then compares it with a new consolidation loan that may include fees. That gives you a simple view of monthly relief, interest cost, and total repayment trade-offs.
It is not trying to replicate every card or loan exactly. Instead, it helps you answer the core question: does the new loan improve the structure enough to justify the switch?
How to judge a consolidation offer
Start with the effective rate change and the total repayment cost. If the new loan only lowers the payment by extending the term, you may gain flexibility while paying more overall. That can still be useful, but it is a different goal than true savings.
The strongest consolidation move usually lowers rate, simplifies repayment, and creates a realistic payoff timeline you can actually maintain. Once consolidated, avoiding new revolving balances is what locks in the benefit.
Frequently Asked Questions
Debt consolidation combines multiple balances into one new loan or credit product. The goal is usually to lower your effective interest rate, simplify repayment, or move from revolving debt into a fixed payoff schedule.