By refinancing, you are creating new monthly payments for yourself and, by doing so, you are ultimately cutting down the total cost you'll have to pay back towards your loans. (mybanktracker.com)
Lenders consider your projected percentage based, in part, upon the size of new monthly payments. (growingfamilybenefits.com)
Once you have this basic data in place, the calculator will give you a bunch of great information including new monthly payments and savings, overall savings, among other things. (millennialmoney.com)