Earnest Student Loan Refinancing Review

Earnest Student Loan Refinancing is a student loan refinance offering by Earnest Operations LLC, . Founded in 2013, Earnest Operations LLC offers student loan refinancing in 47 states (and Washington, DC).

What APRs does Earnest Student Loan Refinancing offer on its student refinancing loans?

The range of APRs you qualify for when refinancing a student loan vary widely by lender and will depend on your creditworthiness and the type of loan you choose. Loans with fixed rates will typically have higher APRs than loans with a variable rate. 

Earnest Student Loan Refinancing offers variable rate APRs that range from 1.81% to 6.49%.
Borrowers who choose a fixed-rate refinancing loan can expect APRs that range from 3.45% to 6.99% APR.

Rate is quoted with autopay discount*.

How much can you borrow via Earnest Student Loan Refinancing?

Loan amounts start at $5,000 and go up to $500,000

Does Earnest Student Loan Refinancing charge an origination fee?

No, Earnest Student Loan Refinancing does not charge a loan origination fee.

A loan origination fee is what some lenders charge for processing, underwriting, and funding a loan. Typically fees range from 0.5% to 5% of the loan amount. Whenever possible, go with lenders that don’t charge origination fees.

Does Earnest Student Loan Refinancing charge prepayment fees?

Yes, Earnest Student Loan Refinancing charges additional fees to borrowers who pay off their loans sooner than anticipated. Take this into consideration when choosing a lender because prepayment fees can reduce or even cancel the interest savings of repaying a loan early.

What terms does Earnest Student Loan Refinancing offer?

Earnest Student Loan Refinancing provides refinancing loans of 5 to 20 years.

It also offers borrowers unemployment protection. This means that if you lose your job through no fault of your own your loan payments may qualify for a temporary hold.

What type of borrowers will Earnest Student Loan Refinancing consider?

Earnest Student Loan Refinancing considers loans applications from:

• undergraduate degree holders
• graduate degree holders
• parents of graduates

What do you need to qualify for Earnest Student Loan Refinancing?

Earnest Student Loan Refinancing does not have or does not disclose a minimum annual income eligibility requirement. Earnest Student Loan Refinancing will consider borrowers regardless of their employment status if they can prove their ability to repay their obligations. Note that borrowers can add a cosigner to either meet eligibility requirements or qualify for lower interest rates.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via Earnest Student Loan Refinancing. Their rates fall within the limits of The Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by Earnest Student Loan Refinancing. Permanent resident / green card holders are also eligible to apply. Not all companies will work with visa holders. Earnest Operations LLC does offer its services to temporary resident visa holders such as F1 or H1B holders.

To qualify, applicants may need to provide the following documentation:

• Proof of graduation
• Proof of identity
• Proof of citizenship or residence permit

What is the estimated funding time for a student loan refinance via Earnest Student Loan Refinancing?

Earnest Student Loan Refinancing will typically fund loans within 7 and 14 days of approval.