Earnest is a student loan lender that offers both student loan refinancing and private student loans.
Qualified borrowers will not only find low interest rates at Earnest, they’ll find a customized student loan product. Earnest is leading the private student loan marketplace in innovation.
This is also why Earnest earned itself a place on our annual list of the Best Places To Refinance Your Student Loans.
Here’s what you need to know about refinancing student loans with Earnest. See how Earnest compares to other top lenders here!
Quick Summary
- Underwriting process considers more than credit scores
- Low interest rates on in-school student loans and refinancing
- Customize your loan term with up to 180 possible terms
Earnest Student Loan Refinancing Details | |
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Product Name | Earnest Student Loan Refinancing |
Min Loan Amount | $5,000 |
Max Loan Amount | $550,000 |
Variable APR | 5.88% - 9.99% (Includes 0.25% Auto Pay Discount***) |
Fixed APR | 4.45% - 9.99% (Includes 0.25% Auto Pay Discount***) |
Loan Terms | 5 to 20 years* |
Promotions | None |
Earnest Student Loan Refinancing
By far, one of the coolest features that Earnest offers borrowers is its “precision pricing” option. Basically this means that you can pick your monthly payment, and Earnest will come up with a term between 5 and 20 years that allows you to hit your exact monthly payment (and pay off your loan as soon as possible).
In total, Earnest is able to offer up to 180 possible repayment terms. This precision pricing model means you could end up with a 7.5 year loan term. That's something you won't likely see at other lenders.
Rates and Terms
Earnest refinances loans ranging from $5,000 to $550,000. Rates on these loans are very competitive. It offers loans with the following rates:
- Variable Rate: 5.88% - 9.99% APR (Includes 0.25% Auto Pay Discount)
- Fixed Rate: 4.45% - 9.99% APR (Includes 0.25% Auto Pay Discount)
Earnest does allow cosigners on refinance loans. Borrowers need a minimum credit score of 665.
Also, Earnest is also one of the few lenders that does allow people with incomplete bachelor's or associate degrees to refinance with them.
Rates are accurate as of June 25, 2026. Our compliance team checks these rates daily to ensure that you're seeing the most up-to-date information.
How Does Earnest Refinancing Compare?
Earnest is consistently at the top of the pack when it comes to student loan refinancing. They have great rates and terms.
Check out this quick comparison:
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Rating | |||
Variable APR | 5.88% - 9.99% | 4.74% - 10.24% | 4.74% - 8.24% |
Fixed APR | 4.45% - 9.99% | 3.99% - 10.24% | 4.29% - 8.44% |
Bonus Offer | None | Up to $500 | Up to $1,100 |
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Earnest Private Student Loans
Earnest is also offering undergraduate and graduate private student loans. They have highly competitive rates and terms for their undergraduate and graduate loans, as well as flexible repayment plans.
One of the best features of their private student loans is that they offer a 9-month grace period after you graduate before you have to start making payments. The nine-month grace period is not available for borrowers who choose our Principal and Interest Repayment plan while in school. But still, that's one of the longest that we've seen.
They also provide four different in-school repayment options¹: full payments, fixed payments ($25/month), interest-only payments, or deferred payments, while you’re in school and for the first nine months after graduation.
Rates And Terms
It's important to note that Earnest's Precision Pricing option doesn't apply to its private student loans. If you apply with a cosigner, Earnest will offer you terms of 5, 7, 10, 12, and 15 years. Meanwhile, if you apply alone as an undergraduate, your only options will be 10, 12, or 15 year repayment terms².
Currently, they offer the following rates:
Fixed Rates: 2.54% - 16.49% APR³ (includes 0.25% autopay discount⁴)
As of 2026, Earnest does accept cosigner release requests on its cosigned private student loans. See their eligibility requirements here.
See how Earnest compares on our list of the best private student loans.
Rates are accurate as of June 25, 2026. Our compliance team checks these rates daily to ensure that you're seeing the most up-to-date information.
How Does Earnest Private Student Loans Compare?
Earnest is consistently a top lender on our list of the best private student loans. They typically have some of the lowest rates on private loans for highly qualified borrowers.
However, to get the best rate you'll likely need a cosigner.
Check out this quick comparison:
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Rating | |||
Minimum Loan | $1,000⁵ | $1,000 | $3,000 |
APR Type | Variable and Fixed | Variable and Fixed | Variable and Fixed |
Cosigner? | Not Required | Not Required | Not Required |
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What Borrower Protections Are Available?
Earnest offers better protections than most private student loan lenders. For example, borrowers can defer loans during graduate school or active military service. Student loan deferment means that you are not required to make payments, but interest continues to accrue.
If you’re facing economic hardship, Earnest may allow you to put loans into forbearance. During forbearance interest continues to accrue on your loan, but you don’t have to make payments. Earnest specifically allows borrowers to take forbearance during a decrease in income, unemployment, or an unpaid parental leave. The only major loss for Earnest’s borrowers is that they will not qualify for income based repayment programs.
The last protection that Earnest offers is a somewhat dubious one. Borrowers can skip one payment every 12 months with the extra payment being spread across the remaining payments**. If you’re facing an unexpected car repair or hospital bill, skipping a payment sounds like a great benefit. Unfortunately, this raises your monthly minimum payment, and the amount of interest you’ll pay, so it’s tough to count it as an obvious win.
Who Qualifies To Apply?
Earnest has stringent underwriting criteria, but the criteria are quite different than most lenders. If you’re a recent grad who manages money well, you’re likely to qualify for a loan refinance with Earnest even if you don’t have a great credit score yet.
Earnest only requires a 650 credit score, but its financial underwriting doesn’t stop with credit scores. Borrowers must have a stable source of income, two months of savings in their bank account, and be current on rent, mortgage and student loans. Carrying too much credit card debt could disqualify you from the loan.
Earnest is also one of the few lenders we know of that allows you to refinance with incomplete bachelor’s or associate’s degrees. That means if you didn't finish college, you can still potentially qualify.
Earnest is one of the few lenders that also looks into your personal finances. To qualify to refinance with Earnest, you have to spend less than you’re earning. (Of course, this makes a ton of sense, but it’s notable that Earnest actually looks into it).
If you’re a parent looking to refinance Parent PLUS loans, Earnest has a refinancing option for you. The qualifying criteria are the same as for the student refinancing option.
Are There Any Fees?
Like most private lenders, Earnest doesn't charge fees⁶ for refinancing or taking out a private student loan. This means you won't have to worry about application and origination fees or prepayment penalties. Notably, Earnest also doesn't charge a fee for late payments.
Earnest Student Loan Manager
Earnest recently partnered with debt repayment company, Payitoff, to launch a free tool, called Student Loan Manager. The program is designed to help federal student loan borrowers with the following:
- Find a borrower's loan servicer
- Enroll eligible borrower's in federal repayment assistance programs
- Deliver automated guidance on federal assistance program eligibility
- Share individualized repayment plan recommendations
If you need assistance getting on track with your student loans, Student Loan Manager may be able to help.
Appeal Letter Generator
If you're a student who has submitted a FAFSA, but your financial aid letter does not reflect your current situation, you might need an aid appeal. Earnest has created a free tool, called The Appeal Letter Generator, which provides students with personalized recommendations and deadline reminders. Using this tool can help you feel prepared before National Decision Day arrives on May 1st.
Smart Planner
High school students who plan to go to college have a lot to think about before they get there. Earnest's Smart Planner is yet another free tool designed to help high school students navigate the various steps they will need to take, such as FAFSA, college application dates, and scholarship search deadlines.
Contact
Its customer service hours are Monday - Friday, 8 AM - 5 PM (PST). You can get in touch with them over the phone at 1-888-601-2801, via live chat, or by email at [email protected].
In addition to regular customer support, Earnest now offers Over The Phone submissions for student loan applications. To initiation a telephone application, contact Earnest at (866)-492-1222, Monday through Friday, 5 AM to 5 PM PST.
Remember to mention The College Investor when you call in order to start the application.
Is It Safe And Secure?
Earnest will not only require your personal information during the application process, but it will also ask you to link your bank and investment accounts. You'll also be asked to provide your LinkedIn credentials and to upload a government ID.
How does Earnest protect all this data? First, all the information you input is encrypted with bank-grade SSL technology before its sent to Earnest's off-site servers. The lender also pledges to never sell its borrower data to third parties.
Earnest also has a 4.6 our of 5 star review on Trustpilot, based on over 7,500 reviews.
Why Should You Trust Us
I am America’s Student Loan Debt Expert™ and have been actively writing about and covering student loans since 2009. Myself and the team here at The College Investor have been actively tracking student loan providers since 2015 and have reviewed, tested, and followed almost every provider and lender in the space.
Furthermore, our compliance team reviews the rates and terms on these listing every weekday to ensure they are accurate. That way you can be sure you're looking at an accurate and up-to-date rate when you're comparison shopping.
Who Is Earnest For And Is It Worth It?
Earnest doesn’t offer the lowest interest rates on the market. But it's the only lender that offers low rates to people with mediocre credit scores.
If you can save money by refinancing with Earnest, it could be a great move for you. On the other hand, if you’ve got a credit score above 700, you may find better rates. Consider comparing rates with other private lenders before choosing Earnest.
We recommend comparing Earnest with other lenders on the Credible Marketplace. Earnest isn't listed but most other lenders are. You can get up to a $1,000 gift card bonus no matter which lender you go with on Credible - so compare Earnest and see if they are the best for you. All bonus payments are by e-gift card. See terms. Check it out here!
Features
Min Loan Amount |
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Max Loan Amount |
|
APR |
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Auto-Pay Discount | 0.25% |
Rate Type | Fixed or variable |
Loan Terms | 5 to 20 years |
Origination Fees | None⁶ |
Prepayment Penalty | None⁶ |
Repayment Options For In-School Loans¹ |
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Forbearance Period | Up to 12 months (issued in 3-month increments) |
Cosigners Allowed |
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Cosigner Release | Yes⁷ |
Grace Period | 9 Months⁸ |
Eligible Schools | Title IV-accredited schools |
Customer Service Phone Number | 1-888-601-2801 |
Customer Service Hours | Mon-Fri, 8 AM - 5 PM (PST) |
Customer Service Email | |
Address For Sending Payments | PO Box 9202 Wilkes Barre, PA 18773-9202 |
Promotions | None |
Earnest Private Student Loans are made by FinWise Bank, Member FDIC. FinWise Bank, 756 East Winchester, Suite 100, Murray, UT 84107.
Earnest student loans and refinance loans are serviced by Earnest Operations LLC, 300 Frank H. Ogawa Plaza, Suite 340, Oakland, CA 94612. NMLS #1204917, with support from Higher Education Loan Authority of the State of Missouri (MOHELA) (NMLS# 1442770).
FinWise Bank and Earnest LLC and its subsidiaries, including Earnest Operations LLC, are not sponsored by agencies of the United States of America.
** Earnest clients may skip a payment through a single, one-month forbearance during a 12 month period. Your first request to skip a pay can be made once you’ve made at least 6 months of consecutive on-time full principal and interest payments, and your loan is in good standing. The interest accrued during the skipped month will result in an increase in your remaining minimum payment. The final payoff date on your loan will be extended by the length of the skipped payment periods. Any unpaid accrued interest may capitalize (added to the principal balance) at the end of the forbearance period by adding unpaid accrued interest to the outstanding principal as permitted by law and the terms of the loan agreement. Please note that skipping a payment is not guaranteed and is at Earnest’s discretion. Your monthly payment and total loan cost may increase as a result of postponing your payment and extending your term.
Student Loan Refinancing
*Student Loan Refinancing: These examples provide estimates based on payments beginning immediately upon loan disbursement. Variable annual percentage rate ("APR"): A $10,000 loan with a 20-year term (240 monthly payments of $101.46) and a 10.74% APR would result in a total estimated payment amount of $24,350.40. For a variable loan, after your starting rate is set, your rate will then vary with the market. Fixed APR: A $10,000 loan with a 20-year term (240 monthly payments of $101.46) and a 10.74% APR would result in a total estimated payment amount of $24,350.40. Your actual repayment terms may vary.
Actual rate will vary based on your financial profile. Fixed annual percentage rates (APR) range from 4.70% APR to 10.24% APR (4.45% - 9.99% with .25% auto pay discount). Variable annual percentage rates (APR) range from 6.13% APR to 10.24% APR (5.88% – 9.99% with .25% auto pay discount). Earnest variable interest rate student loan refinance loans are based on a publicly available index, the 30-day Average Secured Overnight Financing Rate (SOFR) published by the Federal Reserve Bank of New York. The variable rate is based on the rate published on the 25th day, or the next business day, of the preceding calendar month, rounded to the nearest hundredth of a percent. The rate will not increase more than once a month, but there is no limit on the amount that the rate could increase at one time. Please note, we are not able to offer variable rate loans in AK, IL, MN, MS, NH, OH, TN, and TX. Our lowest rates are only available for our most credit qualified borrowers and requires selection of our shortest term offered and enrollment in our .25% auto pay discount from a checking or savings account. Enrolling in autopay is not required as a condition for approval.
Student Loan Origination
Earnest Private Student Loans are subject to credit approval.
1Repayment terms and repayment options available vary based on loan type.
2Available interest rates are subject to change. Interest rates as of 03/19/2026. Earnest’s Loan Cost Examples:
1.) These examples provide estimates based on principal and interest payments beginning immediately upon loan disbursement. Variable annual percentage rate ("APR"): A $10,000 loan with a 15-year term (180 monthly payments of $152.84) and a 16.85% interest rate without Auto Pay (16.85% APR) would result in a total estimated payment amount of $27,511.20. For a variable loan, after your starting rate is set, your rate will then vary with the market. Fixed APR: A $10,000 loan with a 15-year term (180 monthly payments of $150.30) and a 16.49% interest rate without Auto Pay (16.49% APR) would result in a total estimated payment amount of $27,054.10.
2.) These examples provide estimates based on interest-only payments while in school. Variable interest rate: A $10,000 loan with a 15-year term (180 monthly payments of $152.84) and a 16.85% interest rate without Auto Pay (16.85% APR) would result in a total estimated payment amount of $35,515.14. For a variable loan, after your starting rate is set, your rate will then vary with the market. Your actual repayment terms may vary. Other repayment options are available. The calculation assumes that the “in-school” period is 4 years (48 months) and includes our 9 month grace period, during which the monthly payment will be $140.42 for 57 months. Fixed interest rate: A $10,000 loan with a 15-year term (180 monthly payments of $150.30) and a 16.49% interest rate without Auto Pay (16.49% APR) would result in a total estimated payment amount of $34,886.94. Your actual repayment terms may vary. Other repayment options are available. The calculation assumes that the “in-school” period is 4 years (48 months) and includes our 9 month grace period, during which the monthly payment will be $137.42 for 57 months.
3.) These examples provide estimates based on fixed $25 payments while in school. Variable interest rate: A $10,000 loan with a 15-year term (180 monthly payments of $253.39) and a 16.85% interest rate without Auto Pay (14.92% APR) would result in a total estimated payment amount of $47,035.20. For a variable loan, after your starting rate is set, your rate will then vary with the market. Fixed interest rate: A $10,000 loan with a 15-year term (180 monthly payments of $246.61) and a 16.49% interest rate without Auto Pay (14.65% APR) would result in a total estimated payment amount of $45,814.80. Your actual repayment terms may vary. Other repayment options are available. The calculation assumes that the “in-school” period is 4 years (48 months) and includes our 9 month grace period, during which the monthly payment will be $25.00.
4.) These examples provide estimates based on deferred payments. Variable interest rate: A $10,000 loan with a 15-year term (180 monthly payments of $275.17) and a 16.85% interest rate without Auto Pay (14.67% APR) would result in a total estimated payment amount of $49,530.60. For a variable loan, after your starting rate is set, your rate will then vary with the market. Fixed interest rate: A $10,000 loan with a 15-year term (180 monthly payments of $268.03) and a 16.49% interest rate without Auto Pay (14.39% APR) would result in a total estimated payment amount of $48,245.40. Your actual repayment terms may vary. Other repayment options are available. It is important to note that the 0.25% Auto Pay discount is not available when the deferred repayment option has been selected and the loan is in the interim period. The calculation assumes that the “in-school” period is 4 years (48 months) and includes our 9 month grace period, during which the monthly payment will be $0.
3Actual rate and available repayment terms will vary based on your financial profile. Fixed annual percentage rates (APR) range from 2.79% to 16.74% (2.29% - 16.24% with Auto Pay and Loyalty discounts). Variable annual percentage rates (APR) range from 5.24% to 17.1% (4.74% - 16.6% with Auto Pay and Loyalty discounts). Earnest variable interest rate student loans are based on a publicly available index, the 30-day Average Secured Overnight Financing Rate (SOFR) published by the Federal Reserve Bank of New York. The variable rate is based on the rate published on the 25th day, or the next business day, of the preceding calendar month, rounded to the nearest hundredth of a percent plus a margin and will change on the 1st of each month. The rate will not increase more than once a month, but there is no limit on the amount that the rate could increase at one time. Our lowest rates are only available for our most credit qualified existing cosigned loan borrowers who receive the 0.25% Loyalty discount and requires selection of our shortest term offered, full principal and interest payment while in school, and enrollment in our 0.25% Auto Pay discount. Enrolling in Auto Pay is not required as a condition for approval. Interest rates are subject to change.
To be eligible for the Loyalty Discount, applicants must have previously obtained an Earnest Private Student Loan and apply using the same email address associated with that loan. Only one Loyalty Discount may be applied per eligible Earnest Private Student Loan. Not all applicants may qualify. This offer cannot be combined with Earnest’s Rate Match program. Earnest may modify or discontinue this offer at any time and without notice, however, once a Loyalty Discount is earned, it will not be taken away.
4You can take advantage of the Auto Pay interest rate reduction by setting up and maintaining active and automatic ACH withdrawal of your loan payment from a checking or savings account. The interest rate reduction for Auto Pay will be available only while your loan is enrolled in Auto Pay. Interest rate incentives for utilizing Auto Pay may not be combined with certain private student loan repayment programs that also offer an interest rate reduction. It is important to note that the 0.25% Auto Pay discount is not available when loan payments are deferred during the interim period as a result of selecting the deferred repayment option.
5Residents of Hawaii must request a loan of at least $1,501.
6Earnest does not charge fees for origination, late payments, returned check, or prepayments. Florida Stamp Tax: For Florida residents, Florida documentary stamp tax is required by law, calculated as $0.35 for each $100 (or portion thereof) of the principal loan amount, the amount of which is provided in the Final Disclosure. Lender will add the stamp tax to the principal loan amount. The full amount will be paid directly to the Florida Department of Revenue. Certificate of Registration No. 78-8016373916-1.
7To qualify for automatic cosigner release, the outstanding principal balance of your loan must be paid down to 50% or less of the original principal balance. The primary borrower must have made 36 months of required payments after the end of the Interim Period. The primary borrower must meet our eligibility and minimum credit requirements. Additional terms and conditions may apply.
To request cosigner release, the primary borrower must have made 12 consecutive, monthly on-time principal and interest payments (or an amount equal thereto) immediately preceding the cosigner release application. The primary borrower must satisfy certain eligibility and credit criteria at the time of application. Additional terms and conditions may apply.
8Nine-month grace period is not available for borrowers who choose our Principal and Interest Repayment plan while in school.
nmlsconsumeraccess.org
© 2026 Earnest LLC. All rights reserved.
Earnest Student Loans Review
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Rates And Fees
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Application Process
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Customer Service
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Products And Services
Overall
Summary
Earnest makes paying loans back easy by providing a dashboard that can allow you to set your payment date to the date you want and need, set up bi-weekly payments to save on interest, skip a payment once per year**, and more.
Pros
- Flexible student loan repayment options¹
- Typically offers competitive interest rates
- Provides both private loans and refinancing
- Cosigners can be released from student loans when qualifications are met⁷
Cons
- Fewer repayment options than federal loans
Editor: Clint Proctor Reviewed by: Colin Graves
Robert Farrington is the founder of The College Investor and is widely recognized as one of the nation’s leading voices on student loan debt and saving for college. He holds an MBA from UC San Diego Rady School of Management and has spent over 15 years researching, writing, and advising on student loans, 529 plans, financial aid programs, and saving and investing for young professionals.
Robert has been featured in the The New York Times, The Wall Street Journal, The Washington Post, NBC News, and Forbes, where he has been a regular personal finance contributor for over a decade. His work combines both professional expertise and personal experience – he successfully navigated his own student loan repayment journey and has helped thousands of readers do the same.
He is committed to making the intersection of personal finance and education transparent and accessible. You can learn more about Robert on the About Page or on his personal site RobertFarrington.com.