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BestMoney.com
Earnest Review
Reviews 5,815
Earnest
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Earnest
Earnest
Excellent
Reviews 5,815
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 5.32% 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 5.32% 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 9.24% APR (excludes 0.25% Auto Pay discount). Variable rates range from 5.57% APR to 9.19% 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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See what some costumers are saying about Earnest
Earnest
Excellent
Reviews 5,815
on
Excellent
85%
Great
9%
Average
2%
Poor
1%
Bad
3%
N
nicole foxworth
2 days ago
So easy!
The process went smoothly & everyone I worked with directly was fantastic. Best experience I’ve had so far!
E
enkhmaa nergui
2 days ago
the service is quick
the service is quick
B
basha sajjad
3 days ago
The promptness of the respose to the…
The promptness of the respose to the application and clear guidelines and step by step documents to submit when needed
R
rafhael coffee
3 days ago
ease of application
ease of application, knowledgeable customer service personnel
n
needsabreak
4 days ago
Great customer service
Great customer service, very happy so far.
M
marjorie williams
4 days ago
Very simple process and very help…
Very simple process and very help customer service reps
M
manasa ns
5 days ago
Good
Good support and quick response.
E
erin estes
5 days ago
I'd tell a friend
Quick, easy, and fast movement of funds.
C
cr
8 days ago
Quick response and reasonable offer
Quick response and reasonable offer. I will definitely continue to use them for my kids college tuition.
L
lori hurst
8 days ago
Easy As Can Be
It was very easy to fill out the application for the loan. Also, when I spoke to someone on the phone they were very nice and knowledgeable. I was very pleased! 🙂
J
jessica i.
8 days ago
They were easy to work with and…
They were easy to work with and friendly.
W
william kuzma
9 days ago
From a REPEAT customer perspective
From a REPEAT customer perspective, the lack of keeping historical information makes the process to re-apply more painful than what it should be. 90 percent of more of the information is relatively the same so only update should be required and/or requesting 'new' information such as recent pay stub, tax information, income, etc. should only be required. However, the website and current method does not support this easier way of doing business so there is little benefit of re-applying as if every person that applies must repeat the initial information procedures. Overall pleased with Earnest but disappointed given we are in a Technology Era and website design and update are fairly simple if a company wants to invest in providing 'current' customers with a better customer experience!
P
pranav dixit
10 days ago
Loved how swift and easy the processing…
Loved how swift and easy the processing was. Kudos to earnest.
B
brian goodwin
12 days ago
Great Experience
Helpful Knowledge, Patience with Excellent Customer Service.
L
lawrance sanders
14 days ago
The application process was easy
The application process was easy. We were approved in a reasonable time frame. Overall experience was great
C
clark dorer
14 days ago
Literally saved me from poverty.
Literally saved me from poverty.
T
tolan aman
14 days ago
Everything has been handled very well
Everything has been handled very well. Consumer service answered my questions very clearly and quickly. My one issue was that Earnest never mentioned that most schools need a separate loan for summer, and fall/spring. My financial aid office finally told me and had to scramble a little to get a second loan approved.
C
carrie
14 days ago
It was fast and easy to apply
It was fast and easy to apply
M
maritza s arce-larreta
15 days ago
Communication was efficient and clear…
Communication was efficient and clear via email application process was effective
S
sawyer baltimore
16 days ago
The quickness and easiness of the…
The quickness and easiness of the platform.
consumer-image
vinis gn
17 days ago
False advertisement
False advertisement. They say check eligibility with no impact to credit. Then you fill everything out and they have small print saying they do a hard pull. Very misleading
J
jordan sobe
17 days ago
application process was clear and was…
application process was clear and was not too long
T
tara
17 days ago
Super easy process
Super easy process and good rates! Only complaint I'd you can't take out multiple loans for multiple students.
L
lawerence donlin
17 days ago
Super great service company with fast…
Super great service company with fast response times and very helpful throughout the process. Highly recommend.
B
bradley jencks
18 days ago
Your site is very difficult to navigate…
Your site is very difficult to navigate and has ridiculous requirements. Unless I have no other feasible means for money for school I do not plan on using you again.
h
heidi cramer
18 days ago
They made it super easy to get the loan…
They made it super easy to get the loan this time. We have gotten a couple of student loans now and this time wa by far the easiest and quickest!
D
diana javadyan
20 days ago
Quick, responsive, efficient
The company is quick, adresses client needs, makes client happy.
K
kathi lundstrom, phd
21 days ago
Quick Savings
Earnest was quick and relatively easy, giving me much better rates than I was getting from Navient. Thanks!
J
joel kisker
22 days ago
Fast and Helpful
Fast, helpful, and professional.
K
kait j
23 days ago
The help center is the absolute best
The help center is the absolute best! They are so sweet and helpful. The really make it obvious that they care about your experience
D
daniel horan
24 days ago
Very easy process
Very easy process
F
frommn
25 days ago
Very Nice
Very quick process and very user friendly!
J
julie reese
a month ago
Efficient
Efficient, clear.
L
lois sekajipo
a month ago
Awesome service
Awesome service
consumer-image
dj kirby
a month ago
How to pay the least amount of interest
Easy to set up payments and I got a good rate when I refinanced my student loans in Nov 2021. Now I am ineligible for any Biden forgiveness because Earnest loans are private loans. When I first applied, they quoted me $1,800 in interest for a 5 year loan on $34k in student debt, but the real interest is proving to be higher. The first year it was $900. I think it's because they front load your loan with interest by delaying your first payment for two months so interest can start accruing right away. So go with them, but make your first payment day one and 2nd payment on day 30 so you pay as little interest as possible.
C
crystal heath
a month ago
Loan
Thank you for providing me with the opportunity to receive a loan from your company. The representative was very professional.
J
joseph skif
a month ago
Great site
Great site. The rate was very good, C/S was quick and efficient.
S
shanna rose
a month ago
Happy
They gave me a loan and were fast with the entire process.
J
jennifer l
a month ago
New to Earnest
I'm new to earnest but so far I love the ease of the whole refinancing process & getting away from Navient. I'm looking forward to having a lower & fixed interest rate.
A
a h
a month ago
The online application process was…
The online application process was quick and user frfriendly.
V
vgordon
a month ago
Earnest really does a fantastic job of…
Earnest really does a fantastic job of making the experience of applying and securing a student loan very comfortable and easy. The company is quite responsive and does a great job in keeping applicants, co-signers and borrowers in the know with endless updates and reminders.
D
david o
a month ago
The turnaround of the loan approver is…
The turnaround of the loan approver is excellent
T
taylor marcoux
a month ago
Earnest Changed my Life
With the money earnest has helped me save, I am able to finally start a savings account for my children
P
patrice scott
a month ago
Very helpful with any questions I had
Very helpful with any questions I had. Approved right away and communicated quickly with my institution in regards to applying the loan to cover tuition.
M
mitchell borriello
a month ago
Easy application process
Easy application process, friendly customer service, they called to let me know what happens next and if I needed any help completing the process.
N
nahshon evans
a month ago
Excellent service
Excellent service
R
ruhie shah
a month ago
Quick response,process and reply and…
Quick response,process and reply and student friendly
E
ernest abel ndukwe
a month ago
Timely response.
Timely response. Thank you
N
no name
a month ago
Best lender for student loans and best customer service
Earnest is the best lender for student loans. Their website is very well designed to support the entire application process from start to end and you get very quick loan decisions. Their customer service is very good and readily available to help you with this process if needed. THey personally followed up with school for my loan disbursement and made this process very seamless for me. Highly recommended. They also do loans for forign students.
C
christine dean
a month ago
The application process was easy.
The application process was easy.
V
vasty aboagye
a month ago
I had a seamless experience
I had a seamless experience. The whole process was self explanatory however when there a need to contact the service desk, their responses were swift and detailed.
D
don blankenship
a month ago
Way better than Navient.
Ease of use and fair rates.
S
segun atijosan
a month ago
The staff effectively explained …
The staff effectively explained things
D
david torres
a month ago
Helpful
Always helpful with any questions, problems understanding the website.
K
katherine perez
a month ago
Lowest interest rates
Lowest interest rates
T
terrence sage
a month ago
Very good explanations and quick follow…
Very good explanations and quick follow up
G
gopi
a month ago
It’s easy to apply
It’s easy to apply, user friendly, easy to understand.
K
kd
a month ago
It’s true they have more specific…
It’s true they have more specific eligibility criteria but for a good reason. I got my lowest interest with Earnest. Plus, they process fast. I’m an international student with a cosigner.
S
shannon schmoyer
a month ago
Extremely helpful and easy to apply.
Extremely helpful and easy to apply.
G
gaurav kumar saini
a month ago
gaurav
The verification process and documents required from cosigner were quite detailed as compared to other loan providers
G
gabriel s
a month ago
Everyone at customer service was so…
Everyone at customer service was so helpful.
A
ammy jabbar
a month ago
Fast approval and entire process
Fast approval and entire process. Continuous updates that kept me informed. Overall best experience for private student loan ever.
G
gabriella
a month ago
Great!
Super easy to use and approved me immediately with no issues!
G
gail skemp
a month ago
Fast service.friendly emails.
Fast service.friendly emails. I just wish interest rates weren't so high for students ( that's everywhere not just here) Also my other granddaughter applied for the $10,000 scholarship I wished she could have gotten it, these 2 girls HAVE to pay for their college careers. Thanks
C
catherine
2 months ago
Application’s
Very easy to walk thru and complete everything on line.
S
sam rasty
2 months ago
Great educational loan service provider
Great educational loan service provider
J
justanswer customer
2 months ago
Excellent services and support from the…
Excellent services and support from the staff. I had no problems with my application
L
linda afia asantewaa asante
2 months ago
Excellent
Excellent, your patience is one attribute I always highlight and I love understanding you guys were because first timers with, Shawn always took time to explain things me. Always replied my emails as quickly as I could and always made me feel like talking to a friend not a staff. I really enjoyed my experience and grateful to God and you guys for everything. I have already expressed my gratitude to you guys through a message to Shawn. I really look forward to working with you guys long term. Thank you and God bless you. You are indeed earnest with your will to serve all people. God bless you
S
s. latoya
2 months ago
Application was pretty easy
Application was pretty easy. I didn't give 5 stars because the interest rate is very high and they kept asking for additional information. Once it was processed things went pretty fast.
V
vr
2 months ago
A fast, simple way to fund your educational goals.
The process was incredibly simple and straightforward. I felt confident that we would get the funding we needed and in a timely fashion. We are very pleased with the service and the prompt responses if we have any problems along the way.
M
musa sillah
2 months ago
The entire process was so smooth and…
The entire process was so smooth and user-friendly. The customer service is top-notch.
A
andrew aziz
2 months ago
Quick, easy, and transparent
Quick, easy, and transparent; very helpful customer service as well.
A
april babin
2 months ago
So easy to apply
So easy to apply
A
ashae k
2 months ago
Easy application process
Easy application process. Expiration of offer too short.
V
vernon langford
2 months ago
Easy and Better Rates than Bank
The loan experience was easy and the rate was less than my bank offered. I wholeheartedly recommend Earnest for anyone looking to refinance their student loans.
P
patricia johnson-hughes
2 months ago
Helpful and kind customer service
Helpful and kind customer service
S
syed waliul alam
2 months ago
simple process
simple process
C
carolyn beeker
2 months ago
The constant communication so I always…
The constant communication so I always knew what was going on. Plus, you genuinely wanted to help.
M
mary spencer
2 months ago
The process was one of the easiest loan…
The process was one of the easiest loan applications I have ever completed! It might have been the easiest!
M
manohar burra
2 months ago
Student Loan approval documents
My student loan is approved in a very short span of time. But the issued loan approval document is not acceptable to school. I've been following it up with Earnest team but precious time is getting wasted.
V
vijaysingh purohit
2 months ago
Good communicatiom and timely reminders.
Good communicatiom and timely reminders.
J
jennifer
2 months ago
My #1 college loan pick!
Super easy to apply, I was able to speak with a live person to answer any questions I did not understand. Definitely A game changer to get the college loan process done and ready to go. Thank you!
A
amy
2 months ago
So easy and convenient
So easy and convenient. Quick response time!
V
vrushank agrawal
2 months ago
Great overall experience
The application process is seamless, the GUI is great and the response is also very quick.
M
mehul dholakia
2 months ago
Simple application process
Simple application process; quick decision.
H
halle willeford
2 months ago
Great company
The staff are always super nice and clear on details
J
joaquin nunez garcia
3 months ago
Smooth errand
All instructions are so crystal clear
L
latha cherian
3 months ago
Prompt reply & processing
Prompt reply & processing
J
josephine b.
3 months ago
Seamless process
Seamless process! Earnest's overall experience was fast and easy. I compared the results I received with 4 other lenders and Earnest gave me the best loan options. I had a co-signer help with my loans. The process for us was seamless and Earnest kept us in the loop where the application process was the whole time! - Filled out the application 03/05/2023 + approved - Signed mine and co-signer loan option on 03/08. - Paperwork sent to school for certification on 03/09/2023 + school certified/approved the same day. - Earnest sent funds to school on 3/16 - School released funds to my bank on 03/23 I chose no payments while in school and 9 month grace period after I graduate nursing school.
S
sahil
3 months ago
Easy process and good customer support
Very easy to apply and the process is quick and as long as the university approves quick, you should be done within 2 weeks. Good and responsive customer support as well.
J
jayla b.
3 months ago
Earnest is amazing!
Earnest approved me without a cosigner when most other major lenders wouldn't. The online process was easy and the customer service was great. I highly recommend!
A
ashmin
3 months ago
Prompt, facile, and most effective market RoIs but lacks customisation.
The overall service was good and swift and did not require any follow ups from the client side. The products however have attached contingencies that are not as flexible as other competitors. The products need to have an academic purpose attached to it, wherein students are awarded (even though one time) on achieving elite academic statuses.
K
kassandra miller
3 months ago
Quick & Easy Application & Approval Process
I always have necessary information before starting the application which makes the process much easier
C
carol hasson
3 months ago
Reps were very professional and helpful and their response to emails were in a timely manner.
Reps were very professional and helpful. It was just a little bit of a confusing experience as this is the first time one of my children needed to use a student loan. The main reason is the different repayment scenarios and also with the school, being as it is an on-line school. Emails were answered in a timely matter which is great. Everything else has been pretty simple to navigate. Thank you!
M
marc kloeckener
3 months ago
Incomplete
I like the friendly people. But still waiting for my loan to be funded.
P
parthasarath chalawagali
3 months ago
Getting loan quickly was great but you…
Getting loan quickly was great but you didn’t communicate to university yet after 10 days or loan approval
consumer-image
mike waspi
3 months ago
Great customer service
Customer service was very helpful and friendly!
A
alden johnson
3 months ago
I had a great experience refinancing my…
I had a great experience refinancing my student loan
U
una
3 months ago
Easy and fast!
Easy and fast!
M
marcell chagoya
3 months ago
The income wasn't what I expected when…
The income wasn't what I expected when applying and outcome of the application weren't what I wanted.