With its broad qualification criteria and customizable repayment options, Earnest’s student loan refinancing is particularly appealing for people with short credit histories and entry-level incomes.
Like many student loan refinance lenders, Earnest offers student loan refinancing for borrowers with loans from undergraduate or graduate degrees, and for parents who took out federal PLUS loans to pay for their child’s education.
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AT A GLANCE
Fixed rates: 3.35% to 6.39% APR. Variable rates: 2.57% to 6.19% APR.
Available loan terms: Personalized terms between 5 and 20 years (180 options total)
Eligible loan balances: $5,000 to $500,000
Visit Earnest
Note: Once you refinance a federal student loan, you lose access to federal loan perks including income-driven repayment and loan forgiveness programs. …show more content…
Loan servicing: Earnest
Deferment and forbearance: Borrowers may be able to defer payments while pursuing a graduate degree, or serving in the military or Peace Corps. Forbearance is available to borrowers who involuntarily lose their job or have an increase in nondiscretionary spending, such as medical costs or child care.
Next steps
It’s smart to compare several refinance lenders before choosing one. If you’re sold on Earnest, you can apply directly on the lender’s site. The lender will do a soft credit pull, which won’t hurt your credit score, to give you a rate estimate. Then, like all lenders, Earnest will do a hard credit pull when you submit your full application.
You’ll need to do the following when you apply:
Connect at least one checking account to Earnest’s platform to confirm your income. It’s optional to connect other financial accounts, including those for investments and credit cards.
Upload a copy of your government-issued photo ID, such as a driver’s license, passport or U.S. green card
Upload other documents that Earnest requests, such as a job offer letter or income
Like many student loan refinance lenders, Earnest offers student loan refinancing for borrowers with loans from undergraduate or graduate degrees, and for parents who took out federal PLUS loans to pay for their child’s education.
earnest_blog-roll
AT A GLANCE
Fixed rates: 3.35% to 6.39% APR. Variable rates: 2.57% to 6.19% APR.
Available loan terms: Personalized terms between 5 and 20 years (180 options total)
Eligible loan balances: $5,000 to $500,000
Visit Earnest
Note: Once you refinance a federal student loan, you lose access to federal loan perks including income-driven repayment and loan forgiveness programs. …show more content…
Loan servicing: Earnest
Deferment and forbearance: Borrowers may be able to defer payments while pursuing a graduate degree, or serving in the military or Peace Corps. Forbearance is available to borrowers who involuntarily lose their job or have an increase in nondiscretionary spending, such as medical costs or child care.
Next steps
It’s smart to compare several refinance lenders before choosing one. If you’re sold on Earnest, you can apply directly on the lender’s site. The lender will do a soft credit pull, which won’t hurt your credit score, to give you a rate estimate. Then, like all lenders, Earnest will do a hard credit pull when you submit your full application.
You’ll need to do the following when you apply:
Connect at least one checking account to Earnest’s platform to confirm your income. It’s optional to connect other financial accounts, including those for investments and credit cards.
Upload a copy of your government-issued photo ID, such as a driver’s license, passport or U.S. green card
Upload other documents that Earnest requests, such as a job offer letter or income