Earnest Review

ByBestmoney StaffJan. 10, 2021
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In a Nutshell

Earnest provides student refinancing at low interest rates for borrowers with credit scores over 650 who have relatively high income. It’s a great way for recent graduates to pay significantly less on their student debt by letting them choose from a number of loan term options that will suit their specific financial situation.


  • Offers a number of flexible repayment options
  • Precision Pricing model gives borrowers greater flexibility


  • No option for borrowers to apply with co-signer
  • Lack of informative educational resources

Earnest at a Glance

APRVariable Rates: 1.99%-5.64% (with a 0.25% autopay discount)
Fixed Rates: 2.98%-5.79% (with a 0.25% autopay discount)
Loan TypesConsolidation for federal and private student loans
Refinance amount$5,000+
Repayment terms5-, 10-, 15-, 20- year loans
Minimum credit score650+
Suitable forFast applications
Direct Lender or MarketplaceDirect lender

Earnest Earnest View Rates


Earnest was founded in 2013 by Louis Beryl and Benjamin Hutchinson as a way to help people achieve their financial goals. Earnest provides a way for customers to alleviate burdensome student debt faster than traditional lenders. Earnest is funded by reputable venture capital firms such as Andreessen Horowitz, First Round Capital, Maveron, and Atlas Venture.

Earnest is a student debt refinancing loan provider that believes there are many financially responsible people who are not receiving the loans they deserve. Earnest uses technology to paint a more complete financial picture of potential borrowers. They review data such as savings patterns and each applicant's unique situation to provide rates and terms tailored to the applicant.

Recommended for people who have a credit score above 650 and want a loan provider that services their loan throughout the entire life of the loan.

Earnest Highlights

  • Customers save money on their student debt payments
    Earnest provides customers with a consolidated student debt loan and a lower interest rate, offering significant savings on interest payments.
  • Many consumer education resources
    Customers receive access to several guides and information sections on the student debt refinancing process in addition to a blog with countless personal finance articles written by industry professionals.
  • Will not transfer customer’s loan to a third party servicer
    Earnest borrowers get the peace of mind of knowing that their loan will be managed by Earnest’s professionals throughout the entire life of the loan.

Information and Support

Earnest customers receive access to their helpful information library. Borrowers are able to review materials discussing the entire refinancing process, including how to close out existing student loans. Additionally, Earnest hosts a blog that features articles focused on a wide variety of personal finance topics that are bound to help anyone’s financial situation. Customer support is available Monday - Friday, 8am to 5pm PT.

Types of Debt Addressed

Earnest enables customers to address both their secured and unsecured debt, allowing borrowers to receive funding to consolidate private and federal student loans. Earnest is now able to refinance Sallie Mae loans as well.

Earnest offers loans in the District of Columbia and all states except for, DE, KY, and NV.

Flexibility of Repayment Plan

Earnest offers customers a choice of a fixed rate repayment plan or a variable rate repayment plan. Fixed rates start as low as 2.98% (with 0.25% autopay discount) APR and variable rates start as low as 1.99% (with 0.25% autopay discount) APR.

Repayment Terms

Earnest offers 4 different options for customers to settle their student loans. Borrowers can receive 5, 10, 15, or 20 year loans. However, customers can have their debt settled in as little time as their finances allow with Earnest’s no early repayment fee policy.

Ease of Quote Application Process

Receiving a rate quote from Earnest can take as little as 2 minutes. Customers must enter their personal details, educational background, income information, and some pertinent spending data.


Earnest provides borrowers with low interest rate student refinancing even if they do not have stellar credit, but have strong education and income. Earnest cares about its customers and enables borrowers to choose from a number of loan term options that will suit their specific financial situation. Earnest is a great way for recent graduates to pay significantly less on their student debt.

Earnest Earnest View Rates

Earnest customer testimonials

ExcellentReviews 2,950
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  • author
    Randy Wright
    12 hours ago
    Great rates

    Great rates, finally able to pay down the principal on student loans.


  • author
    Desiree Miller
    15 hours ago
    The light...

    I never thought I would see the light at the end of the tunnel. Earnest has helped make that possible. They made it easy, fast, essentially painless to consolidate and refinance my student loans. I'll be paid off in 7 years instead of 20.


  • author
    Scott Vanden Heuvel
    17 hours ago
    So far I'm very happy

    So far I'm very happy. I'm just waiting for my second loan to be paid off but I have no complaints so far! I got a great rate and I should be saving about $800 a year!


  • author
    a day ago
    Quick & Easy process, Rates are great

    Quick & Easy process & took a few days from start to the end. I have got the rates as suggested at the beginning. I highly recommend Earnest for Educational loan refinance.


  • author
    Hunter Kelley
    a day ago
    Fast and great rates

    Fast and great rates. No Complaints.