Last Updated: 04/18/2025
Earnest Student Loan Refinancing
Claimed
Last Updated: 04/18/2025
SuperMoney User Recommendation Score -44
Mostly not recommended18 total votes
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Highlights
Community Rating
Mostly not recommended
Fixed APR
5.19% - 9.99%
Variable APR
5.72% - 9.99%
Amount Range
$5,000 - $500,000
Loan Term (Years)
5 - 20
Number of Reviews
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.
Earnest Student Loan Refinancing FAQ
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 5.72% to 9.99%.Borrowers who choose a fixed-rate refinancing loan can expect APRs that range from 5.19% to 9.99% APR.
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?
No, Earnest Student Loan Refinancing does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off 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:
What do you need to qualify for Earnest Student Loan Refinancing?
Applicants with a credit score of at least 650 and up to 850 may be eligible for Earnest Student Loan Refinancing. Earnest Student Loan Refinancing does not have or does not disclose a minimum annual income eligibility requirement.
U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by Earnest Student Loan Refinancing. 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 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.
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Message from our editor
What We Love About Earnest
Earnest makes it fast and convenient to apply for a loan from the comfort of your home. Earnest provides flexibility if you encounter financial hardship. Deferment, forbearance, and a skip payment option are available. We like the Precision Pricing tool that allows you to determine your monthly payment and adjusts the loan term to match. Finally, Earnest looks at more than your credit score and income to qualify applicants. This can be a pro or a con depending on your situation, but if you have been financially responsible, this rewards your efforts.
WhatCould Earnest Do Better?
If you don’t have a solid credit score (660 or above), keep looking for other options to refinance your student loans. If you have a bankruptcy or a recent collection account, you will be disqualified as well. Earnest does not allow co-signers, so applicants must stand on their own credit merits. Earnest is not available in all states, and only U.S. citizens or permanent residents are eligible. As a student, you cannot be enrolled more than half-time, or you must be finishing your degree by the end of the semester to qualify.
Earnest Student Loan Refinancing Backstory
Earnest Operations LLC was founded in 2013 and is the parent organization for Earnest Student Loan Refinancing. As an online lender, they utilize technology to analyze a full picture of applicants that goes beyond income and credit score. In addition to Student Loan Refinancing, they offer personal loans and parent PLUS refinancing.
The Verdict
If you are struggling to make ends meet or have less than ideal credit and income, Earnest Student Loan Refinancing is not for you. Individuals who have been fiscally responsible and maintained their credit standing could find refinance options with Earnest that may save them money and provide flexibility when unforeseen things arise.
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Learn MoreSuperMoney Net Recommendation Score
SuperMoney users mostly don't recommend this product, giving it a user recommendation score of -44, or 2.1 on a 5-point rating scale.
-44
-1000+100
No one recommends
Everyone recommends
Earnest Student Loan Refinancing Community Reviews
Would you recommend Earnest Student Loan Refinancing to your friends?
BH
Boris H.
Jun 21, 2018
May or may not recommend
I applied for a student loan refinancing, provided direct access to my bank account, provided a personal bank statement, business bank statement, personal tax forms, business tax forms, and other personal info. I called during my application process to make sure that my individual situation would be okay in being approved for the loan. I got denied for a reason that does not even apply to me "income variability". They ...Show More
PM
patrick M.
Mar 27, 2018
May or may not recommend
Horrible process and EVERY month the interest goes up! Can’t wait to refi with someone else because the payment and interest goes up. Horrible and worst decision ever done!
U
Anonymous
Aug 11, 2017
May or may not recommend
(Earnest - College Debt Consolidation) The application process is easy. Although mine took a bit longer than expected so make sure to call them to check on your application status if you suspect it is taking longer than usual (a couple days to a week to respond with approval/denial/requesting more)
U
Anonymous
Jun 21, 2016
May or may not recommend
horrible experience, the process is very bad and they are NOT helpful :(
U
Anonymous
Jun 14, 2016
May or may not recommend
Hi, I recently consolidated my student loans 18k with avg rate of 6.46% down to 3.96% with Earnest. I was uncomfortable giving them my bank account log on but once I accepted the loan and it was all done with I changed my bank password so they can't continue to gain access or if it leaks somehow no one can get in. I started the process Friday, provided requested documentation ...Show More
U
Anonymous
Jun 3, 2016
May or may not recommend
The loan process was a waste of time, inefficient, and the rates came back 42% higher than advertised, so it wasn't worth it to switch. With a superb credit score, low debt to income, high income, and more than 3x the assets to cover the loan and get denied the best rates is a complete joke.
U
Anonymous
Mar 14, 2016
May or may not recommend
It seems there are a lot of negative reviews on this company on this website. Most of them are people who are angry that they got denied. I get it, the application is extensive and invasive. However, most of these new loan companies require more than just a credit score to approve a loan. This allows for less defaults and in return they can give their customers a lower rate. ...Show More
U
Anonymous
Mar 2, 2016
May or may not recommend
I'm currently looking for a way to refinance my student loans. I have been out of college for 12 years, and still have 11 years to go with my navient loans. I am currently working as a freelance designer from my home, while my two children are small. My husband works full time out of the house. Our fico scores are over 800 and we make a combined 140k/yr. Earnest ...Show More
U
Anonymous
Feb 4, 2016
May or may not recommend
Horrible rate to consolidate. over 30 years of credit. credit score near 800. Offered me higher rate than my federal loan which I had already paid of 2 years. Are you kidding?
U
Anonymous
Feb 2, 2016
May or may not recommend
The whole Earnest pitch was great. However, when I got to the process I found that they don't even abide by their own eligibility guidelines. In my case, I graduated from a community college which is on their list from the Department of Education, a title IV school. I then attempted a Bachelors degree but didn't finish. I still got denied for the loan. I even attempted to just get ...Show More
U
Anonymous
Jan 18, 2016
May or may not recommend
Dont waste your time with these guys. I have a 30k student loan @ 7.5% I wanted to refinance with them. I make, a well documented, over 100k income. I have been with that company for 8 years, and have over 60k in my 401k, near perfect credit (790+), I have minimal credit card debt, and never miss payments and am never late with any bills. ...Show More
U
Anonymous
Dec 9, 2015
May or may not recommend
I was paying 6.8% interest (47k loan) with myfedloan.org and was able to lower it just a little through Earnest (6.3 fixed or 4.3 variable so I am taking a risk with variable for now, if it goes up I will change to fixed after the 6 month wait). I have a high credit score, I wish they would've given me a better interest rate. My advice is to apply ...Show More
U
Anonymous
Nov 11, 2015
May or may not recommend
I would suggest that people seriously consider how they will feel if they are denied by Earnest after providing the extensive amount of information they require. I was denied despite a relatively high income and excellent credit score because I'm in grad school part time. Maybe I'm just bitter, but I'm not sure how "sophisticated" their system is for determining potential income if it denies everyone who is still a ...Show More
U
Anonymous
Oct 29, 2015
May or may not recommend
I read all of these reviews when I was contemplating getting a loan with Earnest and I had mixed feelings just like any other reasonable person would. I didn't like putting my personal data online but I promise it was well worth the initial trouble of uploading all of the required documents, accounts, etc... I am used to going to a bank giving my social and signing a consent form ...Show More
U
Anonymous
Oct 28, 2015
May or may not recommend
Great experience with student loan refinance, 1.9% APR variable rate. Painless application process, final decision took about 2 weeks. Love that you can switch between fixed and variable after loan is taken
U
Anonymous
Oct 17, 2015
May or may not recommend
Earnest has great rates - the best I could find. And very flexible options. The only issue I had with them was that they wouldn't cover a loan that was tied to a small stint in Grad School, because I never finished the degree. They only cover loans that you have received a degree with. Weird, but I just took that loan elsewhere at a higher ...Show More
U
Anonymous
Oct 14, 2015
May or may not recommend
Honestly, I wish I could give them no stars. I'm a homeowner, very gainfully employed, 783 credit score, and I have a nice sayings account. I was denied for a student loan consolidation because they claimed I "overdrafted and paid late" on my checking account. First off, my savings account is linked to my checking so I rarely transfer funds (the bank does this for me), and please explain how ...Show More
U
Anonymous
Oct 6, 2015
May or may not recommend
They asked for all my information. I provided it.
They denied me because of "too low savings"
I generated and saved $2500 and re-applied and they still said "No"
You jump through 50 different hoops 3 separate times just to get told no.
Don't waste your time, the hope the provide with their, "Happiness Technicians" is quickly taken away each and every time.
Thanks for nothing.
Showing 18 of 18 reviews
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