Earnest Student Loans Review
Many families have to turn to private education loans when college scholarships and federal student loans do not cover all their bills. Getting a private student loan is typically a straightforward process. Even so, you shouldn't just borrow from the first lender you come across. Considering all of your options will ensure you sign on the dotted line with the right company.
One such lender is Earnest Private Student Loans. This review will help you understand the lender’s offerings, advantages and drawbacks to help you make your final decision.
#1 on Forbes, CNBC, Money, CNN & Fund.com
#1 on Forbes, CNBC, Money, CNN & Fund.com
- Lowest rate - starting at 2.39% APR 1
- Cover up to 100% of your school costs 2
- Flexible options for repayment
- No application, origination, or prepayment fees
- Checking rates won't affect your credit score
*Rates as of July 1, 2026
College Ave's student loan products are made available through Firstrust Bank, member FDIC, First Citizens Community Bank, member FDIC, or BTG Pactual Bank, N.A., member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply.
¹ All rates include the auto-pay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. If a payment is returned, you will lose this benefit. Variable rates may increase after consummation. Approved interest rate will depend on creditworthiness of the applicant(s), lowest advertised rates only available to the most creditworthy applicants and require selection of the Flat Repayment Option with the shortest available loan term.
Borrow up to 100% of school-certified expenses, whether you're online or on campus.
- Fixed rates 2.39% - 17.49%
- Variable rates 3.75% - 16.95%
- Lowest rates shown include 0.25 percentage point interest rate discount with auto debit payments.¹
- Multiple repayment options from in-school payments to deferred.¹ No origination fee or prepayment penalty.²
- Borrow up to 100% of school-certified expenses, whether you're online or on campus.³
- Last year, students were 4x more likely to be approved with a cosigner.⁴
1Undergraduate Loan - Fixed rates 2.39% - 17.49% APR* with auto debit discount.
No fees required
- Covers full attendance cost
- Fixed rates from 2.45%-15.99% APR (with autopay)
- Variable rates from 4.39% - 15.99% APR (with autopay)
- Save on interest with rate discounts for autopay (0.25%), continuing scholar borrowers (0.125%), and cosigners taking a second student loan (0.25%).
- US, Puerto Rico, and the US Virgin Islands residents are eligible for student loans*
- Flexible repayment options to fit your financial situation
*Borrowers must attend an approved school within these areas to qualify.
Interest Rates: Eligibility and Important Details. Fixed rates range from 2.45% APR to 15.99% APR with 0.25% autopay discount. Variable rates range from 4.39% APR to 15.99% APR with a 0.25% autopay discount. Unless required to be lower to comply with applicable law, Variable Interest rates are capped at 17.95%. SoFi rate ranges are current as of 7/6/2026 and are subject to change at any time. Your actual rate will be within the range of rates listed above and will depend on the term and type of repayment option you select, evaluation of your creditworthiness, income, presence of a co-signer (if applicable) and a variety of other factors. Lowest rates reserved for the most creditworthy borrowers. Check out our eligibility criteria at https://www.sofi.com/eligibility-criteria/. For the SoFi variable-rate product, the variable interest rate for a given month is derived by adding a margin to the 30-day average SOFR index, published two business days preceding such calendar month, rounded up to the nearest one hundredth of one percent (0.01% or 0.0001). APRs for variable-rate loans may increase after origination if the SOFR index increases.
Autopay Discount: The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly payments as outlined in your loan agreement by an automatic monthly deduction from a savings or checking account. This benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. When the autopay interest rate deduction is added or removed, the next time the loan is re-amortized (quarterly for fixed rate loans; monthly for variable rate loans),the principal balance of your loan will be spread over the remaining loan term, and your monthly payment amount will change. This benefit is suspended during periods of deferment, grace period, or forbearance. Autopay is not required to receive a loan from SoFi.
Please borrow responsibly. SoFi Private Student loans are not a substitute for federal loans, grants, and work-study programs. We encourage you to evaluate all your federal student aid options before you consider any private loans, including ours. Read our FAQs.
Terms and Conditions Apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. SoFi Private Student loans are subject to program terms and restrictions, such as completion of a loan application and self-certification form, verification of application information, the student's at least half-time enrollment in a degree program at a SoFi-participating school, and, if applicable, a co-signer. In addition, borrowers must be U.S. citizens or other eligible status, be residing in the U.S., Puerto Rico, U.S. Virgin Islands, or American Samoa, and must meet SoFi’s underwriting requirements, including verification of sufficient income to support your ability to repay. Not all repayment options may be available for all loans. Minimum loan amount is $1,000. See SoFi.com/eligibility for more information. View payment examples. Lowest rates reserved for the most creditworthy borrowers. SoFi reserves the right to modify eligibility criteria at any time. This information is current as of 3/4/2026 and is subject to change. SoFi Private Student loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891. (www.nmlsconsumeraccess.org).
Earnest student loans overview
Earnest is a private student loan lender offering multiple financial products, including student loans and student loan refinancing. It offers student loans for undergraduate and graduate students, but parents, guardians and sponsors can also take out loans. Money named it to our best student loans list because the company offers a unique amount of flexibility when it comes to paying back your loans, including five repayment terms⁶ and four types of in-school payment options¹.
- No fees at all, including late fees⁹
- Nine-month grace period¹⁰
- Student loan rate match guarantee³
- Skip-a-payment program²
- 2 cosigner release options⁴
- No option for students pursuing an associates degree
Pros explained
No late fees
Earnest doesn’t charge application or origination fees, or prepayment penalties⁹. But those are fairly standard; the vast majority of student lenders offer the same. What is more unique is that Earnest also does not charge fees for late payments.
Nine-month grace period
A grace period gives you time to get on your feet financially before beginning loan repayment. Grace periods start once you've graduated, left school or dropped below half-time enrollment. Most student loan providers offer a standard six-month grace period. However, Earnest offers an additional three months for its student loans with its nine-month grace period¹⁰.
Student loan rate match guarantee
When you apply for a student loan through Earnest and find a lower rate from one of its competitors, you can submit that information to Earnest’s student loan rate match guarantee³. That’s a critical advantage, because different lenders have different underwriting models, which means you may qualify for a slightly lower rate with one of Earnest’s competitors. If so, Earnest will match the lower rate you find and give you a $100 Amazon gift card. To be eligible, you must meet several requirements, including:
- Submit a completed student loan application
- Submit documentation of a competitive rate offer that doesn't include discounts
- Provide a valid email address
Skip-a-payment program
Earnest has a unique skip-a-payment benefit², where borrowers have the option to skip one monthly payment every year without penalty. Interest still accrues, but you won't be reported at delinquent to the credit bureaus.
Cons explained
No options for pursuing an associates degree
Earnest only offers loans for students who are pursuing bachelor’s and graduate degrees. If you want to borrow for a two-year degree, you’ll have to find another lender. (You should start with the federal government, as federal loans will cover the costs of most two-year programs.)
Earnest does, however, offer associate degree loan refinancing, though. Note that you will lose benefits associated with your underlying federal loans, such as income-driven repayment plans and certain deferment and forbearance options, if you refinance into a private loan.
No dedicated parent loans
Some private student loan lenders offer parent loans that parents and guardians can use to borrow cash for their child’s education. While Earnest does give parents the opportunity to cosign loans, it does not have any dedicated parent loan offerings. (There are options for parents looking to refinance Parent PLUS loans, though).
Earnest student loans offerings
Earnest offers multiple private student loan products. Undergraduate, graduate, MBA, medical, law students can all apply for loans through Earnest. Earnest offers repayment options of 5-, 7-, 10-, 12- and 15-year terms⁶, though not all borrowers are eligible for every term length.
You can apply and upload your documents on your computer or mobile device. Usually, you will hear back about the approval of your loan in as little as one day. Earnest will send the money to your school once you sign.
Earnest services all of its own loans, which means after you take out a loan, attend school, then enter repayment and pay down your debt, you’ll be dealing with Earnest the entire time. (Many other lenders hire a separate company to manage the repayment process.)
Undergraduate loans
Earnest's undergraduate loans can cover any college-certified expenses, including books, laptops, tuition and study abroad costs. The undergraduate loans have several benefits available, including:
- Multiple in-school repayment options¹, including a flat $25 per month bill
- Eligibility check with a soft credit inquiry
- 0.25% autopay discount⁸
- No fees⁹, including application fees, late fees or prepayment penalties
- Ability to skip a payment⁹ once a year with no penalty
- A nine-month grace period¹⁰
- 100% rate match guarantee³
Graduate student loans
Graduate student loans contain all of the same benefits as undergraduate student loans. But while underdraduate borrowers can be enrolled at least half-time, graduate borrowers must be enrolled full-time.
MBA student loans
Students pursuing an MBA can apply for a loan through Earnest. These MBA student loans have the same benefits as graduate student loans.
Medical school student loans
For students looking to attend medical school, Earnest can provide funding to qualified applicants. The pricing and terms of these loans are the same as the graduate student loans. Medical residents can defer their loan payments for up to 48 months while they’re completing their residency or fellowship.
Law school student loans
Earnest offers private student loans to law school students. These loans are in line with the graduate student loans package.
Cosigned loans
Applying for student loans with a creditworthy cosigner can help you get a lower interest rate. Earnest says adding a cosigner also makes getting approved five times likelier. Students who don't meet some eligibility requirements, like a minimum credit score of 650, can still get financing with a cosigner.
Earnest student loans pricing
Earnest's private student loan terms and rates will vary depending on the type of loan you're applying for and your credit history. Applying with a cosigner can help reduce your rates. Earnest provides both variable and fixed rates for its private student loans, and as mentioned, there are no fees associated with the loans.⁹
Earnest student loans financial stability
Founded in 2013, Earnest is a private student loan lender that has worked with 420,000 students and parents. In 2017, Earnest was acquired by student loan giant Navient, and today Earnest is an independent subsidiary of Navient.
Earnest student loans accessibility
Earnest is an online lender, so anyone with internet access can apply through its site or mobile app. To determine if you are eligible for private student loans through Earnest, it offers a quick eligibility check that takes just minutes to complete on its site.
Availability
Earnest offers student loans to individuals who meet its eligibility requirements in every state and Washington, D.C.
Contact information
Earnest provides multiple lines of communication if you need to speak with a representative. You can email the customer service team at hello@earnest.com or call a representative at 1-888-601-2801 between 6 a.m. and 5 p.m. PST, Monday through Friday, excluding holidays.
If you cannot find answers to your questions in the Help Center section of its website, the Earnest site has a virtual team member help bot available 24/7. It can help with FAQs or connect you to a customer service representative.
User experience
Online reviews for Earnest are positive. Many satisfied customers cite excellent customer service and an application process that is simple and fast. Unhappy customers noted representatives not following up on their issues and getting denied loans or low rates after a hard credit inquiry.
Earnest student loans customer satisfaction
Earnest is accredited by the Better Business Bureau (BBB) and has an A+ rating. Customer reviews on the BBB site have averaged 1.11 out of five stars, though that’s based on only 9 reviews. Complaints on the site range from trouble modifying payments to getting denied for a loan after being pre-approved.
On TrustPilot, the lender looks much stronger, with a 4.6 (out of five stars) based on more than 7,500 borrower reviews.
Earnest student loans FAQs
Is Earnest student loans legit?
Is Earnest a federal student loan?
Is Earnest good for student loans?
Will Earnest student loans be forgiven?
Earnest Disclosure
- 1 Repayment terms and repayment options available vary based on loan type.
- 2 Earnest clients may skip a payment through a single, one-month forbearance during a 12 month period. Your first request to skip a pay can be made once you’ve made at least 6 months of consecutive on-time full principal and interest payments, and your loan is in good standing. The interest accrued during the skipped month will result in an increase in your remaining minimum payment. The final payoff date on your loan will be extended by the length of the skipped payment periods. Any unpaid accrued interest may capitalize (added to the principal balance) at the end of the forbearance period by adding unpaid accrued interest to the outstanding principal as permitted by law and the terms of the loan agreement. Please note that skipping a payment is not guaranteed and is at Earnest’s discretion. Your monthly payment and total loan cost may increase as a result of postponing your payment and extending your term.
- 3 Terms and conditions apply. To qualify for this Earnest Rate Match and Bonus offer: 1) you must submit a completed student loan application; 2) you must provide documentation of an eligible competitive rate offer exclusive of all discounts by calling Client Happiness at (888) 601-2801 or chat on Earnest.com and follow the instructions to send in your proof of lower rate; and 3) you must provide a valid email address during the application process. The bonus will be paid out in the form of a gift card. You will receive instructions on how to redeem the gift card via the email address you have provided. Limit one rate match bonus per application. A bonus cannot be issued to residents in MA. Bonuses that are not redeemed within 180 calendar days of the date they were made available to the recipient may be subject to forfeit. Bonus amounts of $600 or greater in a single calendar year may be reported to the Internal Revenue Service (IRS) as miscellaneous income to the recipient on Form 1099-MISC in the year received as required by applicable law. Recipient is responsible for any applicable federal, state or local taxes associated with receiving the bonus offer; consult your tax advisor to determine applicable tax consequences. Additional terms and conditions may apply. Earnest may discontinue this program at any time.
- 4 To qualify for automatic cosigner release, the outstanding principal balance of your loan must be paid down to 50% or less of the original principal balance. The primary borrower must have made 36 months of required payments after the end of the Interim Period. The primary borrower must meet our eligibility and minimum credit requirements. Additional terms and conditions may apply. To request cosigner release, the primary borrower must have made 12 consecutive, monthly on-time principal and interest payments (or an amount equal thereto) immediately preceding the cosigner release application. The primary borrower must satisfy certain eligibility and credit criteria at the time of application. Additional terms and conditions may apply.
- 5 Residents of Hawaii must request a loan of at least $1,501.
- 6 Available interest rates are subject to change. Interest rates as of 03/19/2026. Earnest’s Loan Cost Examples: 1.) These examples provide estimates based on principal and interest payments beginning immediately upon loan disbursement. Variable annual percentage rate ("APR"): A $10,000 loan with a 15-year term (180 monthly payments of $152.84) and a 16.85% interest rate without Auto Pay (16.85% APR) would result in a total estimated payment amount of $27,511.20. For a variable loan, after your starting rate is set, your rate will then vary with the market. Fixed APR: A $10,000 loan with a 15-year term (180 monthly payments of $150.30) and a 16.49% interest rate without Auto Pay (16.49% APR) would result in a total estimated payment amount of $27,054.10. 2.) These examples provide estimates based on interest-only payments while in school. Variable interest rate: A $10,000 loan with a 15-year term (180 monthly payments of $152.84) and a 16.85% interest rate without Auto Pay (16.85% APR) would result in a total estimated payment amount of $35,515.14. For a variable loan, after your starting rate is set, your rate will then vary with the market. Your actual repayment terms may vary. Other repayment options are available. The calculation assumes that the “in-school” period is 4 years (48 months) and includes our 9 month grace period, during which the monthly payment will be $140.42 for 57 months. Fixed interest rate: A $10,000 loan with a 15-year term (180 monthly payments of $150.30) and a 16.49% interest rate without Auto Pay (16.49% APR) would result in a total estimated payment amount of $34,886.94. Your actual repayment terms may vary. Other repayment options are available. The calculation assumes that the “in-school” period is 4 years (48 months) and includes our 9 month grace period, during which the monthly payment will be $137.42 for 57 months. 3.) These examples provide estimates based on fixed $25 payments while in school. Variable interest rate: A $10,000 loan with a 15-year term (180 monthly payments of $253.39) and a 16.85% interest rate without Auto Pay (14.92% APR) would result in a total estimated payment amount of $47,035.20. For a variable loan, after your starting rate is set, your rate will then vary with the market. Fixed interest rate: A $10,000 loan with a 15-year term (180 monthly payments of $246.61) and a 16.49% interest rate without Auto Pay (14.65% APR) would result in a total estimated payment amount of $45,814.80. Your actual repayment terms may vary. Other repayment options are available. The calculation assumes that the “in-school” period is 4 years (48 months) and includes our 9 month grace period, during which the monthly payment will be $25.00. 4.) These examples provide estimates based on deferred payments. Variable interest rate: A $10,000 loan with a 15-year term (180 monthly payments of $275.17) and a 16.85% interest rate without Auto Pay (14.67% APR) would result in a total estimated payment amount of $49,530.60. For a variable loan, after your starting rate is set, your rate will then vary with the market. Fixed interest rate: A $10,000 loan with a 15-year term (180 monthly payments of $268.03) and a 16.49% interest rate without Auto Pay (14.39% APR) would result in a total estimated payment amount of $48,245.40. Your actual repayment terms may vary. Other repayment options are available. It is important to note that the 0.25% Auto Pay discount is not available when the deferred repayment option has been selected and the loan is in the interim period. The calculation assumes that the “in-school” period is 4 years (48 months) and includes our 9 month grace period, during which the monthly payment will be $0. 4.) These examples provide estimates based on deferred payments. Variable interest rate: A $10,000 loan with a 15-year term (180 monthly payments of $275.17) and a 16.85% interest rate without Auto Pay (14.67% APR) would result in a total estimated payment amount of $49,530.60. For a variable loan, after your starting rate is set, your rate will then vary with the market. Fixed interest rate: A $10,000 loan with a 15-year term (180 monthly payments of $268.03) and a 16.49% interest rate without Auto Pay (14.39% APR) would result in a total estimated payment amount of $48,245.40. Your actual repayment terms may vary. Other repayment options are available. It is important to note that the 0.25% Auto Pay discount is not available when the deferred repayment option has been selected and the loan is in the interim period. The calculation assumes that the “in-school” period is 4 years (48 months) and includes our 9 month grace period, during which the monthly payment will be $0.
- 7 Actual rate and available repayment terms will vary based on your financial profile. Fixed annual percentage rates (APR) range from 2.79% to 16.74% (2.29% - 16.24% with Auto Pay and Loyalty discounts). Variable annual percentage rates (APR) range from 5.24% to 17.1% (4.74% - 16.6% with Auto Pay and Loyalty discounts). Earnest variable interest rate student loans are based on a publicly available index, the 30-day Average Secured Overnight Financing Rate (SOFR) published by the Federal Reserve Bank of New York. The variable rate is based on the rate published on the 25th day, or the next business day, of the preceding calendar month, rounded to the nearest hundredth of a percent plus a margin and will change on the 1st of each month. The rate will not increase more than once a month, but there is no limit on the amount that the rate could increase at one time. Our lowest rates are only available for our most credit qualified existing cosigned loan borrowers who receive the 0.25% Loyalty discount and requires selection of our shortest term offered, full principal and interest payment while in school, and enrollment in our 0.25% Auto Pay discount. Enrolling in Auto Pay is not required as a condition for approval. Interest rates are subject to change.
- 8 You can take advantage of the Auto Pay interest rate reduction by setting up and maintaining active and automatic ACH withdrawal of your loan payment from a checking or savings account. The interest rate reduction for Auto Pay will be available only while your loan is enrolled in Auto Pay. Interest rate incentives for utilizing Auto Pay may not be combined with certain private student loan repayment programs that also offer an interest rate reduction. It is important to note that the 0.25% Auto Pay discount is not available when loan payments are deferred during the interim period as a result of selecting the deferred repayment option.
- 9 Only applicants who have previously obtained a disbursed Earnest Private Student Loan are eligible for the Loyalty Discount. To obtain the discount you must also apply using the same email address associated with that loan. Only one Loyalty Discount may be applied per eligible Earnest Private Student Loan. Not all applicants may qualify. This offer cannot be combined with Earnest’s Rate Match program. Earnest Private Student Loans through Juno are excluded from Loyalty Discount eligibility. Earnest may modify or discontinue this offer at any time and without notice, however, once a Loyalty Discount is earned, it will not be taken away.
- 10 Earnest does not charge fees for origination, late payments, returned check, or prepayments. Florida Stamp Tax: For Florida residents, Florida documentary stamp tax is required by law, calculated as $0.35 for each $100 (or portion thereof) of the principal loan amount, the amount of which is provided in the Final Disclosure. Lender will add the stamp tax to the principal loan amount. The full amount will be paid directly to the Florida Department of Revenue. Certificate of Registration No.78-8016373916-
- Earnest Private Student Loans are subject to credit approval. Earnest Private Student Loans are made by FinWise Bank, Member FDIC. FinWise Bank, 756 East Winchester, Suite 100, Murray, UT 84107. Earnest student loans are serviced by Earnest Operations LLC, 300 Frank H. Ogawa Plaza, Suite 340, Oakland, CA 94612. NMLS #1204917, with support from Higher Education Loan Authority of the State of Missouri (MOHELA) (NMLS# 1442770). FinWise Bank and Earnest LLC and its subsidiaries, including Earnest Operations LLC, are not sponsored by agencies of the United States of America.