Launched in 2013, Earnest offers both private student loans and student loan refinancing, and has a Client Happiness team available to assist you with the application and repayment process. Earnest doesn’t charge fees on either of its products, and starting APRs on private loans are low for creditworthy borrowers. Also, Earnest is best for borrowers who want to customize their repayment terms and anticipate the need for flexibility. Read on for our full Earnest review.
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Earnest Review: Student Loans and Refinancing
Earnest is a lender that takes an individualized and supportive approach to offering student loans. The lender reviews more than just your credit score when determining your rate and offers payment flexibility and a unique pricing model that can save you money.
Min. Credit Score 650+
Loan Amount $1K up to the cost of attendance
Fixed APR 5-20 years
Written by:Lindsay Frankel
Summarized Rating
Loan Features3.8
Interest Rates and Fees4.8
Qualification Leniency3.3
Application Process4
Customer Support4
User Reviews4.7
Perks Bonus5
This parameter considers loan term lengths, loan limits, and loan structure optionality (fixed and variable rate offerings). For each loan type offered, each of these features was evaluated using the five-point scoring system. Then, the various scores were aggregated and averaged to establish an overall loan features score.
Earnest scores a slightly below average 3.8 for Loan Features, which is reflective of a high degree of loan structure optionality (fixed vs. variable) on the upside and fairly restrictive loan amounts on the downside.
Earnest Pros
Earnest Cons
The next step is to check your eligibility. You’ll need to enter information like your name and email, address, date of birth, citizenship, school, degree, enrollment status, and intended graduation year.
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About the Author
Lindsay Frankel
Personal finance expert with 3 years experience specializing in researching, writing, and editing insurance, loans, and credit cards content.
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