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BestMoney.com

Earnest Review

Reviews 6,146
Earnest
Visit Site
Earnest
Earnest
Excellent
Reviews 6,146
Sally Herigstad
Jan. 26, 2023
2 min read
Sally Herigstad
Earnest Summary
With Earnest, you can apply and see student refinancing rates you qualify for in as little as 2 minutes. They are a direct lender, so your loan is funded by Earnest as well as serviced by them. Earnest also has programs to help you manage student loan repayments, such as the ability to skip one payment per year.

Pros

  • All loans are serviced in house
  • Get your interest rate in two minutes
  • Ability to skip one payment per year

Cons

  • Not available in Kentucky or Nevada
  • Strict credit score requirement

Earnest at a glance

9.2
Editorial score

Online experience

Has learning resources, access to rates, mobile app
10.0

Customer services and support

Multiple ways of reaching lender, wide range of hours
8.0

Repayment flexibility

Offers flexible repayment plans & the option for special repayment programs
10.0

Loan Types Covered

Covers most student loan types
8.0

Eligibility

Loans available to all credit types, income levels, and loan types
10.0

Earnest Earnest View Rates

Suitable For?

Earnest student loan refinancing is suitable for borrowers who have higher interest rates on their student loans and want to take advantage of current low rates. Some borrowers with federally held loans may choose not to refinance in order to remain eligible for  benefits applicable to federally held loans.

Loan Features

Earnest offers student loan refinancing with the following features:

  • Fixed-rates from 4.96% APR with AutoPay
  • Variable-rates from 5.49% APR with AutoPay
  • Loans with minimum size of $5,000 and up ($10,000 and up in California)

The Application Process

Click the “Get Started” button and answer a few questions about your student loan needs. You’ll get an interest rate estimate in minutes, without impacting your credit score.

If you like the rate you see, you can complete the application, upload documentation, and finalize your loan. You’ll be able to choose between making your payments monthly or bi-weekly.

Loan Eligibility Requirements

The main eligibility requirements for obtaining a loan from Earnest are:

  • Age 18 or older
  • Resident of one of 48 states or the District of Columbia (all but Kentucky and Nevada)
  • Adequate income to cover expenses
  • Minimum credit score of 680 and a good financial history
  • Enrolled less than half-time and your loans are in repayment, or you will complete your degree at the end of the coming semester OR meet all of the following criteria:
    • The degree is incomplete
    • The last attending date was over 6 years ago
    • Your credit score is 700+
    • The school you attended was not a for-profit school
  • Be a U.S. citizen or have a 10-year Permanent Resident Card

If you don’t meet the income, credit score, or U.S. citizen or residency status requirements, you may still qualify if you have a cosigner who meets these requirements.

Repayment Terms

Unlike most lenders who offer fixed loan terms, Earnest lets you choose the length of your loan. You decide how quickly you want to pay off your loan, and choose a loan length to the month. For example, you may decide you can afford to pay off your loan in 9 years and 8 months, or that may be the amount of time you had left on your previous loan. You can generally get a loan for that length of time.

The APR you pay depends on factors including your credit score. Fixed rate loans start 4.96% APR, and variable rate loans start from 5.49% APR.

How Safe Is It?

The data you enter on the Earnest site is encrypted using industry-standard SSL technology. It is sent to servers in an off-site data center, where data is protected by firewalls, private subnets, and multi-factor authentication.

Help & Support

You can get help in three ways:

  • Submit a request using the online form
  • Use online chat
  • Call 1-(888)-601-2801 Monday - Friday, 8:00 AM to 5:00 PM PT, excluding holidays

Summary

Earnest works with you to meet your goals for refinancing your student loans. Whether it’s consolidating multiple loans, getting a better interest rate, removing a co-signer, or choosing a custom loan term to pay off your loan sooner, Earnest is there to help. They even have a Client Happiness team to help with your loan experience.

Physical Address

535 Mission St., Suite1663

San Francisco, CA 94105

Earnest Earnest View Rates

Disclaimers

Interest Rate Disclosure:

Actual rate and available repayment terms will vary based on your income. Fixed rates range from 5.21% APR to 10.04% APR (excludes 0.25% Auto Pay discount). Variable rates range from 5.74% APR to 9.99% APR (excludes 0.25% 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 per month. The maximum rate for your loan is 8.95% if your loan term is 10 years or less. For loan terms of more than 10 years to 15 years, the interest rate will never exceed 9.95%. For loan terms over 15 years, the interest rate will never exceed 11.95%. Please note, we are not able to offer variable rate loans in AK, IL, MN, NH, OH, TN, and TX. Our lowest rates are only available for our most credit qualified borrowers and contain our .25% auto pay discount from a checking or savings account.

AutoPay Discount Disclosure:

You can take advantage of the AutoPay interest rate reduction by setting up and maintaining active and automatic ACH withdrawal of your loan payment. The interest rate reduction for Auto Pay will be available only while your loan is enrolled in AutoPay. 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. For multi-party loans, only one party may enroll in AutoPay.

Lender Identification Footnote:

Earnest Loans are made by Earnest Operations LLC or One American Bank, Member FDIC. Earnest Operations LLC, NMLS #1204917. 535 Mission St., Suite 1663, San Francisco, CA 94105. California Financing Law License 6054788. Visit earnest.com/licenses for a full list of licensed states.

One American Bank, 515 S. Minnesota Ave, Sioux Falls, SD 57104. Earnest loans are serviced by Earnest Operations LLC with support from Navient Solutions LLC (NMLS #212430). One American Bank and Earnest LLC and its subsidiaries are not sponsored by or agencies of the United States of America.

© 2021 Earnest LLC. All rights reserved.

THIS IS AN ADVERTISEMENT. YOU ARE NOT REQUIRED TO MAKE ANY PAYMENT OR TAKE ANY OTHER ACTION IN RESPONSE TO THIS OFFER.

Sally Herigstad
Written by
Sally Herigstad
Sally has been writing about personal finance since 1998 and is the author of “Help! I Can’t Pay My Bills” (St. Martin’s Griffin). She is a licensed real estate broker in Washington state and a retired certified public accountant. She writes for BestMoney and enjoys helping readers make sense of the options on the market.‎
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Trustpilot reviews
See what some customers are saying about Earnest
Earnest
Excellent
Reviews 6,146
on
Excellent
85%
Great
9%
Average
2%
Poor
1%
Bad
3%
O
okechukwu ajuba
19 hours ago
Great service
Great service
G
guest george.
2 days ago
It has been a great experience every…
It has been a great experience every time we do loan applications with Earnest and simple with no problem whatsoever with the program!
A
attibaud xavier-jrme kouassi
2 days ago
Great experience
Very easy, Very fluid, Very simple, Very fast reply from Earnest. Great experience of loan application.
A
athletic director tom
2 days ago
Simple and quick response
Simple and quick response
C
craig simmers
3 days ago
Better rates than SOFI and better…
Better rates than SOFI and better service.
A
abi
3 days ago
It was helpful that there wasn't…
It was helpful that there wasn't onlyone kind of loan I could get and it was also helpful that I didn't have to wait a long time to hear back from.
J
john d.
3 days ago
Very smooth & simple process.
Very smooth & simple process.
B
bachittar singh
4 days ago
That you don’t do direct disbursement.
Was unaware that disbursement is through the school only.
J
jayson sneed
4 days ago
Good job
The speed of the loan was very helpful
S
simon boyarskiy
5 days ago
"your wait time is 0 minutes"
"your wait time is 0 minutes" that is amazing!
A
alexander barnett
7 days ago
Quick easy application
Quick easy application! If you haven’t heard from them in 3 days, You have to check your sometimes confusing portal for additional requests required.
K
k petersen
9 days ago
Always very helpful and polite
Always very helpful and polite
J
j. hamilton
10 days ago
Incredibly easy and fast process
Incredibly easy and fast process to apply for an education loan. I went through the application process online and then I called the support to have them answer my question. The support were so helpful and friendly.
A
adam
10 days ago
Earnest was a life saver
Earnest was a life saver. It was the only company that would allow me to consolidate my loans. I save $400 a month. The process was easy and seem less.
K
kathlyn laraway
11 days ago
took forever
took forever. Frustrating process for document uploads.
S
sherman potillo
11 days ago
All phone conversations were pleasant…
All phone conversations were pleasant and complete. Made the process easy.
E
edwin rosa
12 days ago
Co-signer
What I appreciate was the fact that they worked with you step by step through the process of attaining the loan.
J
jackson
12 days ago
Earnest made my loan process easy and…
Earnest made my loan process easy and direct, I will definitely recommend Earnest to friends and family.
R
r. northcutt
12 days ago
How much more simple could it be?
How much more simple could it be?! What an enjoyable experience. I literally was thinking, “It can’t be that easy!” But, it was! Thank you! I’m excited about my lower interest rate and solid plan for retiring this student loan debt ASAP!
T
ts
14 days ago
Easiest College Loan Experience Ever!
Our experience with Earnest was refreshing, straightforward, and easy. The documents arrived in a timely manner, loan selection was easy to understand. Our loan rate was competitive. We are happy with this experience and will use them again next year.
F
francis anim
14 days ago
Simple and easy
The process was fast
J
justin
15 days ago
Interest rates are robbery.
Interest rates are robbery.
L
leslie
15 days ago
it was easy to apply again with…
it was easy to apply again with Earnest, I just wish I got the low interest rates advertised!
A
andrea foncerrada
16 days ago
Excellent
Best rate, fast, kind, effective.
M
mark meers
16 days ago
Your company was very communicative…
Your company was very communicative online and the co-signing process went very smooth.
M
milena bonilla
16 days ago
Easy Peasy
Quick loan processing and fund dispersement
J
justin lockhart
17 days ago
The process was easy.
The process was very easy and helpful. I was able to get all my loans consolidated and work out an easy repayment plan.
T
taxxplanner
17 days ago
Phone calls are handled efficiently and…
Phone calls are handled efficiently and you get answers! Not a runaround. Helpful information! Great all around!
H
heather sevier
17 days ago
Nice job!
Very please with the service and outcomes...
R
ralph suozzi
17 days ago
Speed and ease
Speed and ease
C
customer
18 days ago
Fast, easy, and great!
This is our first time using Earnest. The process was fast and easy. The loan terms were better than we could find elsewhere. Everything was really great! Thank you.
C
christine lee
18 days ago
Refinance happiness
I was stressing out with my private student loan repayment as the company i originally had sold the loans to another company and i could not negotiate the terms which were awful plus having very HIGH variable APRs!! Earnest was able to offer me a loan for half the interest APR I was going to have and its FIXED!! The prior lender had 2 loans both had crazy high interest following LIBOR index as well... I am so happy i can pay this off not only faster (7 years) but saving just shy of 200 a month. So grateful for Earnest!!!!!!!!
c
customer
19 days ago
I felt well taken care of...although after having been approved and signed the loan...they sent me an email denying it...but DESPITE EVERYTHING THEY HAVE THE PROCESS WELL ORGANIZED...
I felt well taken care of...although after having been approved and signed the loan...they sent me an email denying it...but DESPITE EVERYTHING THEY HAVE THE PROCESS WELL ORGANIZED...
C
coy christensen
19 days ago
I don't know if I like it or not
I don't know if I like it or not, I have no idea what's going on. They've made no attempt to let me know. Terrible communication.
C
cindy wagner
20 days ago
Interest rate was extremely high
Interest rate was extremely high
R
robert avels
22 days ago
The process was very simple and smooth
The process was very simple and smooth, with the approval process done expediently
D
doris kiefer
22 days ago
Very easy to apply
Very easy to apply, quick response and great follow-up.
I
israel wuresah
22 days ago
The process was very easy and quick to…
The process was very easy and quick to get done.
K
knottdave
22 days ago
Super clear and easy UI
Super clear and easy UI. Easiest student loan experience by far.
R
richard dumenu
22 days ago
Was easy to secure my student loan for…
Was easy to secure my student loan for school.
J
jacob
22 days ago
Gave me the lowest rate of anyone.
Gave me the lowest rate of anyone.
S
samuel di chellis
22 days ago
Very easy to navigate
Very easy to navigate. Quick response.
K
kathy signorelli
23 days ago
Easy process …
It was very easy to navigate through all the information. And I thought the communication from the company was very good. The whole process was very pleasant.
M
michael bloukos
23 days ago
I was impressed by the Earnest process…
I was impressed by the Earnest process of reviewing loan applications. It is streamlined to be fast and efficient.
W
william morelli
23 days ago
Helpful and friendly at each turn
Helpful and friendly at each turn. Answered all questions promptly. Great help.
k
kwame bonsu
23 days ago
fast response professional polite clear…
fast response professional polite clear explanation
B
benjamin essien
23 days ago
Simple and well structured
Simple and well structured
J
jorge martinez
23 days ago
Earnest has provided us with great service.
Earnest has provided us with great service throughout the years. Highly recommended.
S
sushanta tripathy
24 days ago
The process was simple, easy and fast
The process was simple, easy and fast as a cosigner. Not too many questions asked.
K
keisha browder
24 days ago
Ease With Earnest
The ease of the application, the rapid response, the user-friendly website…these make for a great experience with Earnest!
K
karen grajewski
24 days ago
Website is wonky and never works
Website is wonky and never works
R
rayana krol
24 days ago
Could make it a bit easier to set up…
Could make it a bit easier to set up the loan with canceling a loan that was made by mistake and with setting up with a co-signer but overall very good
G
gail skemp
24 days ago
The people have been kind.
The people have been kind. User friendly paperwork
V
vicki peters
24 days ago
Extremely professional
Extremely professional, knowledgeable, pleasant representatives . Efficient and timely service.
S
sean murphy
24 days ago
Overall everything was easy
Overall everything was easy, clear and straightforward. The entire process isn't completed yet, so I rated a instead of a 5. Can't finalize rating for something that is still ongoing .
J
jael fields
25 days ago
Terrible
Terrible, will be moving within the year
U
umang prabhakar
25 days ago
Great exp with masters loan
Excellent interface. Super quick approval. All in all a very pleasant experience
C
chris
a month ago
Easy application and great customer…
Easy application and great customer service.
S
sven ponto
a month ago
easy and quick
Easy smooth quick automated process. Not an Earnest issue but really do not understand why student loan rates are so absurdly high. Like twice the rate of a typical car loan. Amazing how the US preys on our students and saddles them with high interest educational debt.
G
george mensah
a month ago
When I applied for the students loan
When I applied for the students loan, it didn't take so many days to get the loan.
K
kevin mcnamara
a month ago
Perfect experience
Perfect experience. This is my third kid I’ve co-signed for and each time I get a better rate than the PLUS loan and - unlike PLUS - the Earnest loan has zero fees.
I
isela escobar
a month ago
Easy and quick
Easy and quick
L
louis winder
a month ago
The process was easy to follow.
The process was easy to follow.
F
fred dove
a month ago
Timely updates and response to…
Timely updates and response to questions.
R
rosa abney
a month ago
Quick n easy
I like the fact that while I am a returning customer for loans, the easiest thing is the online application.
M
mp
a month ago
Not cosigner friendly
Difficult as a cosigner to find the terms of the loan.
B
barbara g
a month ago
Very fast turn around.
Very fast turn around.
A
abdul sheikh
a month ago
The customer care agent was very…
The customer care agent was very supportive, patient and helpful.
E
elisha iudice
a month ago
Everything went really smooth
Everything went really smooth. Thank you for that
A
avery wakefield
a month ago
Easy to navigate and quick turn around…
Easy to navigate and quick turn around time.
C
charles schmidt
a month ago
easiest application erver
This was the easiest application I've ever seen. My daughter was in town at work when we filled this out and was able to log in and sign the docs and it was clear that the loan was approved. all in about 15 min.
K
kadine
a month ago
Good customer service and the constant updates about your loan progress.
My experience was great with the answers to my questions and how long it will take,and the process was very easy and understanding.
D
desiree jackson
a month ago
They say yes
When others said no, Earnest said yes and I am truly grateful!
B
bc
a month ago
Easy loan process
Easy loan process
C
clay worsham
a month ago
Repeat Customer
Fast, easy application process. We received a discount percentage because we're a repeat customer. This the the 3rd year my daughter (a nursing student) has used Earnest products for college financing needs.
E
eugina renae conger
a month ago
Quick and thorough
Quick and thorough. I don't like how it made my credit score drop. It seems as if this can be done without that issue, but other than that, it was good.
L
limor mazor
a month ago
I always get a quick response and great…
I always get a quick response and great customer service. They always have an answer to my question and try to help.
G
goodness paul-iwenamen
a month ago
The prompt response to application and…
The prompt response to application and simplicity of the process. I also love the rate, it's very reasonable.
J
john ball
a month ago
Co-signer application lost and delinked…
Co-signer application lost and delinked from applicant’s request. Multiple phone calls to troubleshoot and fix causing delays, disbursement still not made
K
kelly heinze
a month ago
Quick and easy
Quick and easy! Kept me updated continuously throughout the process.
C
chad rouse
a month ago
Communication and quick turnaround is a…
Communication and quick turnaround is a strength. Better Rates would be helpful.
J
jess w
a month ago
Quick and easy
Quick and easy. Lowest rate offered after 3 other applications filed. Thank you!
T
terry short
a month ago
Easy transactions
Easy transactions, Fair deals.great communication.
F
felicia a.
a month ago
I was able to speak with a…application representative
I was able to speak with a representative to make sure I selected the correct repayment plan. She walked me through everything and answered all the questions I had. Her customer service was highly professional.
R
robert b.
a month ago
This was our second experience with…
This was our second experience with Earnest. It was meh. It will possibly make us look elsewhere.
A
amanda fenton
a month ago
Supports your dreams and approval is quick.
It was easy to apply and the staff were very helpful. They explained to me exactly how things work. They have great options for paying the loans back.
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gerardo lancara
a month ago
The Process to obtain the credit was…
The Process to obtain the credit was very FAST and EASY!! The Interest Rate was very competitive. When we contacted Customer Service, they were very Helpful explaining everything and the process to adjust that we need, was done in record time. Will definitely do more business with them.
B
brian w
a month ago
Very helpful representatives
Very helpful representatives the two times I called. Ease of use of the portal.
J
jj
a month ago
Easy
Easy, fast no hassles or back and forth
N
nicholas sipe
a month ago
Great experience
Great experience! Quick and easy!
U
unhappy
a month ago
No communication
No communication
T
tatiana imler
a month ago
Easy to use
Easy to use, able to know status immediately and communication with school is seamless.
E
emma adjaloko
a month ago
I applied for a loan for my son and I…
I applied for a loan for my son and I was pleased with the immediate response.All my needs were met. I was happy I was able to help my son as a co-signer to pursue his education. I’ll recommend Earnest to family and friends at anytime.
D
donald garrett
a month ago
Good Fast Customer Experience
Good Fast Customer Experience
c
customer
a month ago
Easy to use
Easy to use. Wonderful costumer service.
B
bijan mohammadi
a month ago
Customers friendly and professional…
Customers friendly and professional Team. Easy access to home page.
T
tricia
a month ago
Very easy to find details & competitive…
Very easy to find details & competitive with rates. A seamless process.
D
david mathias
a month ago
Very professional and thorough
Very professional and thorough. Best rates we could find on the public loan market. Highly recommended!!
K
kathryn delgado
a month ago
They treated us like we were important…
They treated us like we were important customers and responded quickly and with accurate information every time we reached out.
M
michael caputo
a month ago
Was a easy site to use and when I…
Was a easy site to use and when I called the people I talked to where easy to deal with.