Earnest Student Loan Refinancing Review

Many people associate student loans with stress and if they are poorly managed, they can become a tremendous burden. However, this can also be because most people don’t take the time to find a student loan that works perfectly for them. I think we all know that the real stress of a student loan is paying it back. Earnest makes paying back loans easy and stress free.

Remember, you can check out 8 lenders at once using Credible. See how they compare to Earnest before you take out any loans. Plus, College Investor readers get a $200 bonus when refinancing with Credible!

The Perks Of Choosing Earnest

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, change the amount of your payment at any time, set up bi-weekly payments to save on interest, change interest rates, pay extra or early without a fee, skip a payment and pay it later, and consolidate any private and federal loans you have to one payment.

With all of these dashboard options, paying back your loans couldn’t be easier. You will never be penalized for things coming up in life or charged extra when needing to change a payment date or amount. Even making your interest rate perfect for you is a possibility with Earnest. By picking the payment option that works for you, your monthly payment should fit in your budget without too much strain. You will be able to pay your loans back at your own pace at the amount that is right for you.

Refinancing Options

Earnest not only makes payment options clear, easy, and stress free; they also offer student loan consolidation options. Students who are drowning in debt have the option of refinancing their student loans with Earnest. This means you will be able to put all of your student loan debt on to one monthly payment with a payment and interest rate that works for you.

In order to do this there are some qualification requirements like being a United States citizen of at least 18 years of age, having student loan debt from a Title IV League school from either yourself or your children, the debt you are wishing to refinance is for an earned degree, you must be the one who has borrowed the loan primarily, you must be employed, and you must live in one of the thirty-seven states listed.

Those required states being Alaska, Arkansas, Arizona, California, Colorado, Connecticut, Florida, Georgia, Hawaii, Illinois, Indiana, Kansas, Massachusetts, Maryland, Maine, Michigan, Minnesota, North Carolina, Nebraska, New Hampshire, New Jersey, New Mexico, New York, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, Washington, Washington D.C., Wisconsin, West Virginia and Wyoming.

These are only requirements for the financing option and have benefits to them as well like amazing interest rates you could qualify for and the money you could save by using Earnest.

The Verdict

Though Earnest is a recent addition to the market, starting in 2013, it has already made a name for itself in the industry. They help reduce the stress of student loans by making paying back student loans as stress free as possible.

Make sure you compare all your options with Credible. You can compare up to eight lenders in minutes. Plus, don't forget that College Investor readers get a $200 bonus when refinancing with Credible.

Also, for reviews on all student loan refinancing lenders, check out our Student Loan Refinancing Tool.