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Debt Consolidation Calculator

↻ Updated 2026

See whether rolling your balances into one consolidation loan lowers your monthly payment and total interest — or whether a longer term quietly costs you more.

Educational calculators — always consult a licensed professional before making financial decisions.

Your inputs
Total balances to consolidate
Blended rate now
Weighted average rate across your current debts
Current total monthly payment
Consolidation loan rate
Consolidation loan term
4 years
Interest saved by consolidating
$4,310
less interest over the loan
New monthly payment
$507
$93/mo lower
Debt-free in
4 yr
vs 4 yr now
Current plan vs consolidation loan
Keep paying — monthly payment$600
Keep paying — payoff time4 yr
Keep paying — total interest$8,658
Consolidate — monthly payment$507
Consolidate — payoff time4 yr
Consolidate — total interest$4,348
Consolidation loan cost
Balance repaid$20,000
Interest$4,348
ASSUMPTIONS — The consolidation loan is a fixed-rate, fully amortized loan of $20,000 at 10% over 48 months. The current plan assumes you keep paying $600 every month against a single blended balance at 19%, with interest accruing monthly. A lower rate can still cost more overall if a longer term stretches the payments out. Origination or balance-transfer fees are not included.

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Sources & rate references
  • ·Standard amortization / compound-interest formulas

Rates, brackets and limits here are checked against primary sources. If a number still looks off, email support@realmoneyiq.com and we'll review and fix it.

RealMoneyIQ provides free educational calculators, not financial, tax, investment or legal advice. Results are estimates based on the assumptions you enter and publicly published rates; your actual outcome will differ. Always confirm decisions with a licensed professional who knows your full situation.