Earnest Review

Top10.com StaffByTop10.com StaffSep. 01, 2019

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 best 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 Earnest Visit Site

Earnest at a Glance

As low as
Loan Types
Consolidation for federal and private student loans
Refinance amount
Repayment terms
5-, 10-, 15-, 20- year loans
Minimum credit score
Best for
Fast applications

Earnest at a Glance

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’s technology reviews thousands of data points to create a complete financial picture for potential borrowers. An Earnest loan provides borrowers with the opportunity to save $30,963 on average in student loan interest payments.

Best 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 an average of $30,936 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 experts.
  • 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 - 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 now offers refinancing for Sallie Mae loans. 

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 3.45% APR and variable rates start as low as 1.81% 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.

Earnest Earnest Visit Site

Ease of Quote Application Process

Receiving a rate quote from Earnest can take as little as two 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 their customers and enables borrowers to choose from a number of loan term options that will best suit their specific financial situation. Earnest is a great way for recent graduates to pay significantly less on their student debt.

Top10.com StaffByTop10.com StaffAug. 18, 2019
Our editorial staff is comprised of writers who are knowledgeable about financial services. We specialize in simplifying the process of choosing the right student loan lender for your needs.