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Earnest Student Loan Refinancing Review

Earnest student loan refinancing overview

Earnest student loan refinancing allows customers to save money. Earnest looks at just more than borrowers' credit scores during the application process. With Earnest, borrowers can choose their repayment term and payment due date.


  • Prequalification allows you to receive a rate quote in minutes
  • Borrowers can choose their own repayment terms
  • Skip one payment per year
  • Looks beyond borrowers credit scores
  • Unemployment protection


  • Does not offer an option for a co-signer
  • Minimum credit score of 650 required

Earnest student loan refinance snapshot

The following are some key features you can expect with Earnest student loan refinancing:

  • Variable starting at 1.99% and fixed starting at 2.98%
  • Autopay discount of 0.25%
  • Get a prequalified rate in two minutes with a soft credit check
  • Choose your ideal minimum payment
  • Repayment terms of between five and 20 years
  • Deferment offered to borrowers who become unemployed.
  • No set income requirement
  • No origination fees or prepayment penalties
  • Earnest’s minimum credit score of 650

Earnest student loan refinance Eligibility

  • Must be at least 18 years old and a U.S. citizen or permanent resident.
  • The debt must also be from a Title IV accredited organization
  • Must have either completed your degree or be able to do so in the current semester
  • Variable interest rates are not offered in Alaska, Illinois, Minnesota, New Hampshire, Ohio, Tennessee or Texas.


What we like about Earnest

  • Flexible Approval Process: Earnest looks at more than just your credit score when you apply. Earnest inquires for your banking information when applying to use your checking account, savings account, or investment account information when deciding whether your approved or not. So if your credit score is lower, but you have a lot in your banking accounts, that could be a plus.
  • Wide variety of repayment options: Borrowers with excellent credit can choose from as many as 180 repayment options. Borrowers can choose the length of their loan down to the month in between 5 years and 20 years.
  • Financial Protection: Jobless protection to provide a deferment period if you lose your job. Earnest also provides deferment to borrowers who are returning to school or joining the military, allowing you to temporarily pause your payments.

What we don't like about Earnest

  • Minimum Credit Score: Earnest only accepts borrowers with a credit score above 650.
  • No Cosigner Option: No option to add a cosigner to help you qualify or receive a more competitive rate.
  • No changing ownership of a Parent Plus Loan
  • Low rated mobile app