Earnest Review

ByTop10.com StaffMar. 17, 2020

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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 at a Glance

APRAs low as 1.99% (with 0.25% autopay discount)
Loan TypesConsolidation for federal and private student loans
Refinance amount$5,000+
Repayment terms5-, 10-, 15-, 20- year loans
Minimum credit score650+
Best forFast applications
Direct Lender or Marketplace
Direct lender


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 money 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 money 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 to 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 is now able to refinance Sallie Mae loans as well.

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 2.98% (with 0.25% autopay discount) APR and variable rates start as low as 1.99% (with 0.25% autopay discount) 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.

Ease of Quote Application Process

Receiving a rate quote from Earnest can take as little as 2 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.

Earnest customer testimonials

ExcellentReviews 2,601
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  • author
    Cheryle Slayton
    4 hours ago
    The application process was easy and…

    The application process was easy and customer service was great


  • author
    Jonathan Strain
    11 hours ago
    Streamlined process

    Streamlined process, no gimmicks or misleading information, offers what they say they offer in a timely and helpful manner. Just what you'd hope for.


  • author
    2 days ago
    Excellent rate

    Excellent rate, ease of application, quick transfer of funds


  • author
    2 days ago
    Excellent service so far

    Excellent service so far. Only feedback would be the login screen automatically returning to the main webpage whenever immediately navigating to the login page. It's not really an inconvenience, just a minor bug.


  • author
    2 days ago
    Easy way to get a great interest rate…

    Easy way to get a great interest rate on my student loans. Thanks!