Debt Consolidation Calculator

Compare your current debts vs a single consolidation loan. Optional live rate fetch + full Show Work.

How to Use

  1. Add each current debt (balance + APR + minimum payment).
  2. Enter your consolidation loan term and rate (manual, or use “Fetch Live Rates”).
  3. Review monthly payment change, total interest comparison, and estimated savings.
  4. Open “Show Work” to see the formulas and the exact steps used.

This tool is educational and does not provide financial advice. “Live rates” are informational snapshots and may not match offers you qualify for.

Current Debts
Add as many debts as you want. The calculator compares paydown costs vs consolidation.
Total Balance
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Min Payments
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Weighted APR
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Tip: If you don’t know a minimum payment, use your statement value. The “current plan” estimate assumes you keep paying minimums until paid off (JS explains in Show Work).
Consolidation Loan
Enter your target loan terms. Rate can be manual or set via “Fetch Live Rates.”
Common: 24, 36, 48, 60
Manual rate always works. Use “Fetch Live Rates” (rail button) to auto-fill a snapshot.
Optional. Added to cost comparison (JS shows how).
If yes, payment increases slightly.
Live rates status: Not fetched yet.
Live fetch is optional. Tool works fully without it.
Show Work (step-by-step)
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Work uses standard amortization math for the consolidation loan and deterministic rules for the “current debts” estimate. Exact assumptions are listed in the steps above.

Details

  • Consolidation loan payment is calculated using a standard fixed-rate amortization formula.
  • Fees (if entered) are included in the total cost comparison (rolled into principal if selected).
  • Live rate snapshot is optional and informational. Manual rate mode is always available.
  • No URL changes while typing. Share links are generated only by clicking “Share Link.”

Tool Info

Last updated:

Updates may include improved live-rate sources, edge-case handling, and additional comparison views.