Earnest

Earnest Review

BySally HerigstadFeb. 25, 2021

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In a Nutshell

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

APR	Variable rates starting at 1.99% APR (with AutoPay). Fixed rates starting at 2.98% APR (with AutoPay)
Loan Types	Fixed- and variable-rate student loan refinancing
Refinance amount	$5,000+ (For California residents, $10,000+)
Repayment terms	5-20 years, with flexibility to choose term length down to the specific month
Minimum credit score	650+
Suitable for	Borrowers in 36 states who want in-house loan servicing and customized loan terms

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 2.98% APR with AutoPay
Variable-rates from 1.99% 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 650 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
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 at 2.98% APR, and variable rate loans start at 1.99% 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 View Rates

Disclaimers

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.

Earnest customer testimonials

Excellent•Reviews 3,535

Excellent

85%

Great

Average

Poor

Bad

Agusta Bowers
18 hours ago
Helped me refinance my student loans
Helped me refinance my student loans with grace!
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Jervais Des Anges
18 hours ago
I am actually paying more a month and a…
I am actually paying more a month and a couple years more but otherwise good experience
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JASON TODD
21 hours ago
Fast and easy.
Fast and easy. Great rate.
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Aztecfinancesecurity , com
a day ago
Lost so much here,no call
Lost so much here,no call No text, no response to emails only for them to call me to put in more money.I had to contact the Web name on my profile to help me get back my loss and it was done in no time..check them out if you have issue
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Joseph Boales
a day ago
The loan balances transferred seamlessly
The loan balances transferred seamlessly
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Anonymous
a day ago
I tried to consolidate my loan and…
I tried to consolidate my loan and there were errors the whole time. Eventually the loan went through but it was such a burden trying to fix the issue with customer support for 2 months.
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Deann Morgan
a day ago
Professional
Professional, respectful, courteous! It was so easy to understand and everyone was so nice. Thank you!
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JD
a day ago
The process of refinancing my 2 parent…
The process of refinancing my 2 parent loans into a single lower-rate loan was amazingly easy. I was given a wide range of options for interest rate and length of time to allow a personalized solution.
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Nicolas Rocha
2 days ago
Earnest has made an incredibly positive…
Earnest has made an incredibly positive impact on my financial wellness, and I am forever grateful, I even recommend Earnest to my friends and family. Thank you! I started out with a terrible interest rate upon graduating college and was struggling to make ends meet. I refinanced with earnest and got an incredible deal. Fast forward another year, and I’ve refinanced again with earnest on an even better interest rate! I even helped me girlfriend refinance this past month (with my beloved earnest) and I am happy to represent you guys. When I heard about the outstanding loan and interest rate my girlfriend had, I couldn’t believe my ears. She had been paying her student loans for almost 4 years and barley made a dent because of the criminally high interest rates of a very popular student loan service (Sallie Mae - if I’m allowed to say - screw you Sallie Mae!). It was disgusting. I told her about refinancing and Earnest and now she is also on a better path to financial freedom. A sincere thank you from the both of us.
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Austin Werner
2 days ago
Outstanding service
Outstanding service
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Weronika
2 days ago
Very easy to use.
Very easy to use.
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Nicole
2 days ago
Very happy with my Earnest refinancing
Very happy with my Earnest refinancing! I decided to go with Earnest because of the low interest rates and the ability to set the terms exactly how I wanted them. In addition, any extra payments will go 100% to the principal balance. The website is user friendly, and the people I spoke with on the phone are knowledgeable and friendly. The only downside I see: when you are setting your terms, the rate and payment are based on using the .25% deduction for autopay. You choose your terms and then when you get your loan agreement, suddenly the interest rate is higher. When setting the terms, the deduction should not be included as it is confusing and misleading. Otherwise, I am still very happy so far because this servicer definitely has the best rates around!
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Bobby Darnell
2 days ago
Very impressed with the entire process
Very impressed with the entire process. Who likes filling out loan applications...I am guessing not many but Earnest made it relatively painless.
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Pat B.
3 days ago
Fast, easy and simple!
This was the easiest loan refi I have ever seen! Very fast processing and could not be happier to get the help needed from Earnest to get one step closer to getting rid of my student loans once and for all.
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Justin
3 days ago
Earnest has been a lifesaver.
Earnest has been a lifesaver with student loans. Every other service provider (i.e., Navient, Nelnet, etc) has been a black hole of information, transparency, and clarity. I have zero trust in Navient and Nelnet from years of prior experiences. Law loans have been an unimaginable burden. That burden has been compounded with loan service providers that have made their business a business of deception and deliberate obfuscation. Earnest has been the complete opposite experience. The loan process is simple and straightforward. For the first time, I feel I have control over my student loans and paying down my indentured servitude. Maybe one day.
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Scott
3 days ago
Give Earnest a Try
Earnest offers a viable alternative to bloodsuckers like Navient and Sallie Mae. Consolidation was easy and allowed me to adapt my terms to fit my budget.
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Nicholas Lanza
3 days ago
The best
Helpful and easy. The way it should be.
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Alex Devik
3 days ago
No fuss, no muss
No fuss, no muss! Getting my loan refinanced through here was quick and easy and I was able to get a long term loan to cut down on some very high payments. For the most part was able to set everything up and let the auto-pay system do its work. Ended up re-refinancing the loan back through them to get a better rate and lower my payments again after a big bulk payment to cut down the loan so definitely worth re-using. Recently their site has been odd to navigate as they transition to a new design. The new design seems to hide some things like the account number and other important account info (or I don't quite understand it yet). Otherwise I have no complaints about the experience!
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Taylor Hall
3 days ago
so easy to use!
this process could not have been easier for me to refinance and transfer my loans over. very pleased.
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Nick S.
3 days ago
Strongly Recommend!
I had an excellent experience with Earnest! I had a little bit of a strange situation when it came to proving my retirement savings because the "official" statements are only released quarterly. Earnest sent me a text message to ask how they could help and led me through the process with great ease. I appreciated the emails that kept me aware of the different stages that my application was going through. Overall, it has been a fantastic experience so far!
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Hailey Nash
3 days ago
This process was quick and easy
This process was quick and easy. Got a much better interest rate and service!
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Angela
3 days ago
Easy application and great service
The loan application process was quick and easy and I had a decision within 3 days. Each time I had a question and contacted a representative via chat, they were able to answer all of my questions and were super helpful.
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Nicholas Quattrock
3 days ago
Great and helpful staff
From the moment I was put in touch with an employee to finally getting my loan approved, the staff was nothing less than knowledgeable and helpful.
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Benjamin Brujan
4 days ago
Fast approval
Fast approval, great rates, no hidden fees. Very easy to upload all documents and status updates always informed and available!
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Tanya Grimsley
4 days ago
Excellent
Excellent service and totally hassle free. They saved me so much money.
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Akeem Hamilton
4 days ago
5 stars
5 stars is my review
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Gretchen Gimbel
4 days ago
The customer service at Earnest has…
The customer service at Earnest has been great since the process started of refinancing my loans. My only complaint was the difficulty of using the online system when consolidating loans from different servicers and error messages that made the process take much longer than normal. This was the only frustrating part of the process but the staff was eager to help problem solve and very courteous on the phone.
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Never Use Credible Again
4 days ago
Easy to do!
Very fast process, easy online interface, great customer service
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Alyssa Powell
Apr 14, 2021
interest rate reduction
my interest rate w/ my previous loan holder was 6.5%, so I'm glad for the interest rate reduction with Earnest
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Samantha Lanctot
Apr 14, 2021
I've had nothing but good experiences…
I've had nothing but good experiences with Earnest, including my recent student loan refinance. I appreciate their prompt response to my inquiries.
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Sam Rasty
Apr 13, 2021
Great service and provided a very…
Great service and provided a very competitive rate!
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Shayne Bierman
Apr 13, 2021
Very easy to navigate and their…
Very easy to navigate and their customer service was very kind and helpful.
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Amanda Ferguson
Apr 13, 2021
It was so easy to apply
It was so easy to apply. Got approved quick. Great rates! My prior loans were paid off within the week.
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Megan
Apr 13, 2021
fantastic!!!
fantastic!!!
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MBA Loans
Apr 13, 2021
ridiculously easy to refinance
ridiculously easy to refinance. took me 15 mins, saved a ton of money, and I never had to talk to anyone on the phone
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Anthony
Apr 13, 2021
The best
Simple, efficient, quick. Earnest has been phenomenal to work with from the start. Whatever questions I had were answered in a thorough manner. They helped me to refinance two times and get the rates as well as payments I wanted. Highly recommend for everything!
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Michael Graham
Apr 13, 2021
The transfer process was great
The transfer process was great! All of my student loans consolidated into one payment with a fixed rate. My previous lender had me paying off all the low interest loans first while letting the high interest rate rob me of any chance of getting a head of my loans. If you haven't done do it it helps! Thank you
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JAKE NICOL
Apr 13, 2021
Very simple and easy to understand
Very simple and easy to understand. Thanks!
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LeighAnne Briggs
Apr 12, 2021
Service is excellent
Service is excellent. To the point, concise, and easy to deal with.
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Amanda Wells
Apr 12, 2021
2nd transaction with Earnest and…
2nd transaction with Earnest and equally as pleased.
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Heidi Watkins
Apr 11, 2021
Very easy process!
Very easy process!! Thank you
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Kieley Lyon
Apr 11, 2021
Excellent Service
Easy to use and no loopholes. It was fast and saves me a lot of money!
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Bekki M
Apr 11, 2021
So glad I used Earnest
So glad I used Earnest! The last company I tried to refi with was a nightmare - weeks of phone calls and document requests. Earnest took me 20 minutes, required barely any documents, and was easy to figure out. Highly recommend!
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Kristen
Apr 10, 2021
Very positive experience with Earnest
Very positive experience with refinancing with Earnest, I would recommend to friends and family
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Ryan Buckley
Apr 10, 2021
A Quick and Easy Way to Save
The Earnest application process was incredibly easy and once approved I found myself paying $46/month less plus scheduled to be out of debt 5 years sooner.
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Ian Mack
Apr 10, 2021
Easy to give Earnest 5 stars
Easy to give Earnest 5 stars. I didn't have intention to refinance but with a rate a percent lower and a super easy process it was a no brainer.
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Lois Nwankwo
Apr 09, 2021
I am not the applicant but a support
I am not the applicant but a support. To my knowledge your response was abrupt and your decision precise. I pray our relationship remains as good. Thank you.
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Megan Machamer
Apr 09, 2021
The application process to refinance my…
The application process to refinance my student loans was so incredibly simple! I was also able to get a huge decrease in my interest rate. I regret not doing this sooner.
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Geraldine Ramos
Apr 09, 2021
Easy application process
Easy application process
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Lauren Stanley
Apr 09, 2021
Super easy to refinance!!
Super easy to refinance private student loans! Upset I didn’t take advantage of this opportunity sooner!
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David Morgan
Apr 08, 2021
Earnest Rocks!
Very simple and transparent process. Couldn’t have been done better!
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Amanda
Apr 08, 2021
10/10
I’ve honestly have had such a good experience with Earnest. I refinanced my public loans into private loans. I’ve refinanced my earnest loan now and both times it was really easy experience. When I couldn’t get my bank accounts to link. The support was great and for an easy answer. I LOVE that you can pay bi-monthly. Honestly 10/10 glad I went with Earnest.
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tl
Apr 07, 2021
Easy process!
It was a quick process. Approval and underwriting took no more than two days. Was able to do it all online without phone calls.
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Bo Gustafsson
Apr 07, 2021
Earnest is great
Earnest is great, easy to work with, and a great option for my student loans, and probably other stuff too.
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Andrew
Apr 07, 2021
Better Rate Than SoFi
I used Earnest to refinance my student loan from SoFi. Earnest gave me a rate about 1.5% lower than what SoFi was able to offer. Earnest saves me about $70/month as a result. The application process was easy, and they take care of paying off the loan from the previous lender.
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customer
Apr 07, 2021
So easy to refinance
So easy to refinance - great service - great rates.
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Jeff Cunningham
Apr 07, 2021
Easy process and great customer service!
Easy process and great customer service!
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Alexa
Apr 06, 2021
Easy process & great offering
Easy process & great offering
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Adaora Enwezoh
Apr 06, 2021
Easy and stress free application…
Easy and stress free application process. Timely response with acceptable terms.
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Jason G
Apr 06, 2021
I am very happy that Earnest has been…
I am very happy that Earnest has been very responsive in my search for a lower interest rate on my student loan. I am glad to say that I was able to lower my interest rate to a market leading rate, and have also heard positive feedback from friends and family members on their use of the Earnest platform as well.
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Gregory Kappes, Jr.
Apr 06, 2021
Great Offering!
I cannot understate how wonderful of an experience I’ve had with Earnest so far. When making the decision for who to refinance my student loans with, the choice was simple. Based on the benefits of this loan and especially the very low interest rate I received, I decided to refinance with Earnest. The process was quick and straightforward and my approval was immediate. It was almost too easy to refinance with you guys. I appreciated the online only aspect and everything being offered. Definitely a great experience so far.
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Colleen C
Apr 05, 2021
The customer service is outstanding.
The customer service is outstanding.
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dan Nalipinski
Apr 05, 2021
The process for student loans is 75%…
The process for student loans is 75% more efficient then other loan offers. Additionally you have a Person to talk to about your situation. Person to Person customer service is still the most appreciated form of customer service.
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Paul Reino
Apr 05, 2021
The best rate, the most flexible, and the easiest
Their online application is straight forward and human assistance is standing my. Their system kept the application moving forward. I got the best rate, even better than SoFi, and their sliding tool allowed me to select any pay term, interest rate, and monthly payment ... the most flexibility I have ever seen in a loan.
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David Rahm
Apr 04, 2021
Everything went smooth!
Everything went smooth!
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Frank
Apr 03, 2021
Smooth process of transferring student loan providers.
Pretty smooth process to get approved and change loan provider for a better rate.
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Heather Roth
Apr 03, 2021
Quick and painless
I refinanced my student loan through Earnest since rates had dropped since I originally took out the loan. It was a quick and painless process and will save me two years of payments that are $1500 a month. It was so easy, I’d highly recommend to anyone considering a refi.
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Amanda Peer
Apr 03, 2021
Earnest has done a great job…
Earnest has done a great job re-financing my student loans and always prompt when I have questions.
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Kaitlyn M
Apr 03, 2021
Was able to cut my student loan…
Was able to cut my student loan interest rate in half! Very easy to use
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Eric
Apr 03, 2021
Very fast and efficient loan approval…
Very fast and efficient loan approval process. Loved the flexibility to pick my rate and payment.
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Sally
Apr 02, 2021
Great terms with no loopholes and…
Great terms with no loopholes and nothing to charge more fees with! Great service.
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LC
Apr 02, 2021
Earnest has made refinancing a breeze
Earnest has made refinancing a breeze. Highly recommend. Everyone I dealt with answered my questions and moved me through the process quickly and efficiently.
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Jeremy Alvarez
Apr 01, 2021
Very easy process
Very easy process. Took about 2-3 weeks start to finish. Would recommend.
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Lee
Apr 01, 2021
Great Lender!
Earnest was very easy to work with compared to other lenders. They ask for more information then other lenders, but in my case this helped me get a much better rate then originally preapproved for. I already have recommended Earnest to everyone I know with student loans and would highly recommend them to others as well!
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Tiffany Crawford
Apr 01, 2021
Straight forward refinancing
Straight forward refinancing. Earnest offered the best rates and shortest term for my loans. The approval process was quick and easy and they took care of everything with my previous lender.
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PERRY PERELMAN
Apr 01, 2021
Smooth process throughout.
Smooth process throughout.
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Jason
Apr 01, 2021
Refinancing my student loan with…
Refinancing my student loan with Earnest was fast, quick and easy! I would highly recommend them. They also had the best interest rate that I could find.
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Student loan refinancing
Apr 01, 2021
The Best!
Earnest has the best rates and most flexible loan terms!
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Cody Boender
Apr 01, 2021
Thanks
Thanks I thought I responded already but good job, very nice service. Very easy
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Margarita Gochberg
Apr 01, 2021
Effortless and straightforward process…
Effortless and straightforward process from start to finish.
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Hugo Rivera
Mar 31, 2021
Very pleasant and easy experience.
Very pleasant and easy experience.
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James Pohlman
Mar 31, 2021
Got a competitive rate with minimal…
Got a competitive rate with minimal hassle
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Zo
Mar 31, 2021
Very helpful, need an app
I graduated last year, and Earnest was the only company willing to refinance my student loans this early. My interest rates at SallieMae were over 10% each, but Earnest was able to get me under 5%. My only complaint is that there isn't an app to make/track payments.
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Danielle Hudnut
Mar 31, 2021
Easy and quick process
Easy and quick process! Would recommend!
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Steve Harrell
Mar 31, 2021
Earnest cares!
Because Earnest has paying off your loans as priority and them allowing you to refinance at a lower rate every 6 months shows that! I would recommend Earnest to everyone!
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KCMike
Mar 30, 2021
I have an existing student loan…
I have an existing student loan consolidation with Earnest and just refinanced it for a lower interest rate. They had the most competitive rates (and still do) are so easy to use online, provide lots of options and no cost to refinance so its a no brainer!
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Thomas Randazzo
Mar 30, 2021
Easy
Easy, straightforward process that helped me to refinance and consolidate student loans into one loan with a much lower rate than SallieMae.
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Matthew Audette
Mar 30, 2021
Fantastic service
Fantastic service! Super fast responses.
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Melody G
Mar 29, 2021
Very easy and efficient process.
Very easy and efficient process of refinancing my student loans. I was able to complete the application and provide all required documentation/loan details electronically. I was able to drop my interest rate by two points and payment to my previous loan provider was quick, further saving me money and frustration by balancing between two companies while my payment schedule was ironed out. Definitely recommend.
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Austin Voigt
Mar 29, 2021
Earnest has made refinancing my student…
Earnest has made refinancing my student loans easy and they offered the best rates available.
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Aneeta Takhar
Mar 29, 2021
Marissa was great
Marissa was great! Very helpful and kind.
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Sara
Mar 29, 2021
Transparent and Comprehensive
I was looking to refinance two of my student loans to capitalize on a lower interest rate. A lot of student loan refinance companies require a college degree, as does Earnest. Earnest had the broadest list of graduate and post-graduate institutions as well as an easy and transparent pre-qualification process. My final interest rate was slightly, SLIGHTLY, higher than what was quoted in my pre-qualification process, but I'm still saving 2-4% on interest. Your repayment plan is very clear and the website is easy to use. I used NerdWallet to compare lenders for my refinance, and Earnest kept coming back as the best option. I'm excited to capitalize on this opportunity and to be working with Earnest to pay off my student loans with a lower interest rate.
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April Yancey
Mar 29, 2021
While I finally received approval for…
While I finally received approval for the loan, the approval process took quite a while. I am used to receiving a response within a day or two. It took about a week before I knew if I was approved or not from the time I completed the application.
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Gary J.
Mar 29, 2021
Great rate and great service!
Great rate and great service!
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Carroll
Mar 29, 2021
Great process and I would recommend you to others
The process was straight forward, the website was intuitive, Earnest representatives were responsive and professional, and got a very good rate/the best rate compared to several other providers.
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Michael wassef
Mar 27, 2021
No trust
No trust. Was approved for an application. Day later they denied it
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Jessica Mercer
Mar 27, 2021
The process was ridiculously simple
The process was ridiculously simple and I got a much better rate
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Siler Day
Mar 27, 2021
Quick and Easy
Quick and easy, helpful, and very supportive customer service! I would recommend Earnest to anyone!
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Olga MacCulloch
Mar 27, 2021
Super easy and straightforward process…
Super easy and straightforward process to refinance my student loans! 10/10 would recommend!
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Chris G.
Mar 27, 2021
This was a pleasant experience.
This was a pleasant experience.
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