Earnest Student Loans Review: Pros, Cons, And Alternatives

Rates and Terms

Earnest refinances loans ranging from $5,000 to $550,000. Rates on these loans are very competitive. It offers loans with the following rates:

• Variable Rate: 5.88% – 9.99% APR (Includes 0.25% Auto Pay Discount)
• Fixed Rate: 3.72% – 9.99% APR (Includes 0.25% Auto Pay Discount)

Earnest does allow cosigners on refinance loans. Borrowers need a minimum credit score of 665.

Also, Earnest is also one of the few lenders that does allow people with incomplete bachelor’s or associate degrees to refinance with them.

Rates are accurate as of January 02, 2026. Our compliance team checks these rates daily to ensure that you’re seeing the most up-to-date information.

How Does Earnest Refinancing Compare?

Earnest is consistently at the top of the pack when it comes to student loan refinancing. They have great rates and terms.

Check out this quick comparison:

Earnest Private Student Loans

Earnest is also offering undergraduate and graduate private student loans. They have highly competitive rates and terms for their undergraduate loans, as well as flexible repayment plans.

One of the best features of their private student loans is that they offer a 9-month grace period after you graduate before you have to start making payments. The nine-month grace period is not available for borrowers who choose our Principal and Interest Repayment plan while in school. But still, that’s one of the longest that we’ve seen. 

They also provide four different in-school repaymenskipt options: full payments, fixed payments ($25/month), interest-only payments, or deferred payments, while you’re in school and for the first nine months after graduation.

Rates And Terms

It’s important to note that Earnest’s Precision Pricing option doesn’t apply to its private student loans. If you apply with a cosigner, Earnest will offer you terms of 5, 7, 10, 12, and 15 years. Meanwhile, if you apply alone, your only options will be 10, 12, or 15 year repayment terms.

Currently, they offer the following rates: 

Fixed Rates:
2.79% – 16.49% (includes 0.25% autopay discount)

Unfortunately, Earnest does not accept cosigner release requests on its cosigned private student loans. However, you may be able to remove a cosigner by refinancing your student loans.

See how Earnest compares on our list of the best private student loans.

Rates are accurate as of January 02, 2026. Our compliance team checks these rates daily to ensure that you’re seeing the most up-to-date information.

How Does Earnest Private Student Loans Compare?

Earnest is consistently a top lender on our list of the best private student loans. They typically have some of the lowest rates on private loans for highly qualified borrowers.

However, to get the best rate you’ll likely need a cosigner.

Check out this quick comparison:

What Borrower Protections Are Available?

Earnest offers better protections than most private student loan lenders. For example, borrowers can defer loans during graduate school, Peace Corps, or active military service. Student loan deferment means that you are not required to make payments, but interest continues to accrue.

If you’re facing economic hardship, Earnest may allow you to put loans into forbearance. During forbearance interest continues to accrue on your loan, but you don’t have to make payments. Earnest specifically allows borrowers to take forbearance during an unpaid parental leave. The only major loss for Earnest’s borrowers is that they will not qualify for income based repayment programs.

The last protection that Earnest offers is a somewhat dubious one. Borrowers can skip one payment every 12 months with the extra payment being spread across the remaining payments**. If you’re facing an unexpected car repair or hospital bill, skipping a payment sounds like a great benefit. Unfortunately, this raises your monthly minimum payment, and the amount of interest you’ll pay, so it’s tough to count it as an obvious win.

Who Qualifies To Apply?

Earnest has stringent underwriting criteria, but the criteria are quite different than most lenders. If you’re a recent grad who manages money well, you’re likely to qualify for a loan refinance with Earnest even if you don’t have a great credit score yet.

Earnest only requires a 650 credit score, but its financial underwriting doesn’t stop with credit scores. Borrowers must have a stable source of income, two months of savings in their bank account, and be current on rent, mortgage and student loans. Carrying too much credit card debt could disqualify you from the loan.

Earnest is also one of the few lenders we know of that allows you to refinance with incomplete bachelor’s or associate’s degrees. That means if you didn’t finish college, you can still potentially qualify.

Earnest is one of the few lenders that also looks into your personal finances. To qualify to refinance with Earnest, you have to spend less than you’re earning. (Of course, this makes a ton of sense, but it’s notable that Earnest actually looks into it).

If you’re a parent looking to refinance Parent PLUS loans, Earnest has a refinancing option for you. The qualifying criteria are the same as for the student refinancing option.

Are There Any Fees?

Like most private lenders, Earnest doesn’t charge fees for refinancing or taking out a private student loan. This means you won’t have to worry about application and origination fees or prepayment penalties. Notably, Earnest also doesn’t charge a fee for late payments.

Earnest Student Loan Manager

Earnest recently partnered with debt repayment company, Payitoff, to launch a free tool, called Student Loan Manager. The program is designed to help federal student loan borrowers with the following: 

• Find a borrower’s loan servicer 
• Enroll eligible borrower’s in federal repayment assistance programs 
• Deliver automated guidance on federal assistance program eligibility 
• Share individualized repayment plan recommendations 

If you need assistance getting on track with your student loans, Student Loan Manager may be able to help. 

Appeal Letter Generator

If you’re a student who has submitted a FAFSA, but your financial aid letter does not reflect your current situation, you might need an aid appeal. Earnest has created a free tool, called The Appeal Letter Generator, which provides students with personalized recommendations and deadline reminders. Using this tool can help you feel prepared before National Decision Day arrives on May 1st. 

Smart Planner

High school students who plan to go to college have a lot to think about before they get there. Earnest’s Smart Planner is yet another free tool designed to help high school students navigate the various steps they will need to take, such as FAFSA, college application dates, and scholarship search deadlines. 

Contact

Its customer service hours are Monday – Friday, 8 AM – 5 PM (PST). You can get in touch with them over the phone at 1-888-601-2801, via live chat, or by email at hello@meetearnest.com.

In addition to regular customer support, Earnest now offers Over The Phone submissions for student loan applications. To initiation a telephone application, contact Earnest at (866)-492-1222, Monday through Friday, 5 AM to 5 PM PST. 

Remember to mention The College Investor when you call in order to start the application. 

Is It Safe And Secure?

Earnest will not only require your personal information during the application process, but it will also ask you to link your bank and investment accounts. You’ll also be asked to provide your LinkedIn credentials and to upload a government ID.

How does Earnest protect all this data? First, all the information you input is encrypted with bank-grade SSL technology before its sent to Earnest’s off-site servers. The lender also pledges to never sell its borrower data to third parties.

Earnest also has a 4.6 our of 5 star review on Trustpilot, based on over 7,400 reviews.

Why Should You Trust Us

I am America’s Student Loan Debt Expert™ and have been actively writing about and covering student loans since 2009. Myself and the team here at The College Investor have been actively tracking student loan providers since 2015 and have reviewed, tested, and followed almost every provider and lender in the space.

Furthermore, our compliance team reviews the rates and terms on these listing every weekday to ensure they are accurate. That way you can be sure you’re looking at an accurate and up-to-date rate when you’re comparison shopping. 

Who Is Earnest For And Is It Worth It?

Earnest doesn’t offer the lowest interest rates on the market. But it’s the only lender that offers low rates to people with mediocre credit scores.

If you can save money by refinancing with Earnest, it could be a great move for you. On the other hand, if you’ve got a credit score above 700, you may find better rates. Consider comparing rates with other private lenders before choosing Earnest.

We recommend comparing Earnest with other lenders on the Credible Marketplace. Earnest isn’t listed but most other lenders are. You can get up to a $1,000 gift card bonus no matter which lender you go with on Credible – so compare Earnest and see if they are the best for you. All bonus payments are by e-gift card. See terms. Check it out here!

Go to Earnest here >>

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