Need to Refinance Your Student Loan? Why You Should Check Out Earnest’s Student Loan Refinancing
Student loans weighing you down? You’re not alone — millions of borrowers are stuck in repayment plans1 that can feel like financial quicksand. But don’t panic … we’re here to help you break free.
Enter Earnest student loan refinancing — to help simplify your student loan debt with flexible, borrower-first solutions.
With their innovative approach (a lot more on that below), Earnest student loan refinance loans offer real solutions for borrowers looking to help lower their interest rates and customize repayment terms to fit their lives, needs, and budgets2.
Check your rate on Earnest now!
How does Earnest student loan refinancing work?
Earnest helps borrowers consolidate their existing student loans into a single loan with a new interest rate and repayment term. This can lead to a lower monthly payment, a reduced interest rate, or a repayment plan tailored to fit virtually any financial goals. Borrowers get the flexibility to choose terms that suit their needs, from adjusting payment amounts to selecting the duration of their loan.
What makes Earnest so different?
When it comes to student loan refinancing, not all lenders are created equal. Here’s why Earnest stands out:
No fees, ever: Forget about hidden fees — Earnest believes in transparency. That means no origination fees, no application fees, and no late fees. (Besides that, you can even skip one payment per year.3)
Customizable loan terms: Whether you want to adjust your repayment schedule or tweak your monthly payment amount, Earnest lets you customize your loan terms to match your life, not the other way around.
Autopay discount: Earnest sweetens the deal with a 0.25% interest rate discount when you sign up for autopay4. Because who doesn’t love saving a little extra? (Added bonus: Autopay takes one more monthly to-do off your list.)
Refinance again: Earnest lets you refinance your loans just 30 days after disbursement, unlike some competitors who make you wait a lot longer5. This gives you the power to pivot as your financial situation changes.
Support at every step: Earnest’s customer service is top-notch — think call wait times under 2 minutes and a 4.6/5 Trustpilot rating. Beyond that, their digital platform makes the refinancing process quick, and their support team has your back every step of the way.
MoneyLion can help you find and compare personal loan offers, which could be used to consolidate debt. Explore below!
Potential cons of Earnest
Obviously, no lender is perfect for everyone — here are a couple of potential drawbacks to know about Earnest:
Credit score requirement: You’ll need to have a minimum credit score of 665 to refinance (co-signers need a minimum credit score of 650).
One state’s a no-go: Earnest loans aren’t currently available in Nevada.
Reviews from real Earnest users
Still not sure if Earnest is right for you? Here’s what real borrowers have to say on Trustpilot (just keep in mind that every situation is different and reviews don’t guarantee similar outcomes):
“Painless transition of refinancing my student loans!! Excellent customer services!! I am so pleased I chose Earnest!!” — Nicholas M. (December 12, 2024)
“I loved how easy it was to complete the process from beginning to end. I had reminders to complete the process and they explained how long it would take the school to respond. I would highly recommend and suggest because being in college, I don’t have income and other places expected me to have income.” — Kai E.
(November 27, 2024)
However, a few people expressed having some trouble navigating the user interface. One person wrote, “When I would click on the link to fill out the application, it would just take me back to the account page. Probably did it 20 times before it loaded properly.” — Edna P. (November 20, 2024)
Check out more Earnest student loan refinance reviews online to see why so many borrowers rave about their experience.
Reviews may be edited to correct errors or shortened for relevancy. Reviews do not guarantee similar outcomes.
Is Earnest that good?
If you have strong credit and want a lender that offers customization, transparency, and great support, Earnest could be a perfect fit. Just remember: Borrowing responsibly always comes first.
Ready to take charge of your student loans? Check your rate on Earnest now — it only takes 2 minutes to get the journey started.
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Disclosures
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1 Please note that you will lose benefits associated with your underlying federal loans, such as federal Income-driven Repayment Plans, Economic Hardship Deferment, Public Service Loan Forgiveness, or other deferment and forbearance options, if you refinance into a private loan. If you file for bankruptcy, you may still be required to pay back this loan. As was announced by the U.S. Department of Education (ED), federal student loans have resumed accruing interest starting September 1, 2023, and federal student loan payments were reinstated starting in October 2023. Please note that you may lose benefits associated with your underlying federal loans, such as federal Income-driven Repayment Plans (an example of which is the SAVE plan), Economic Hardship Deferment, Public Service Loan Forgiveness, or other deferment and forbearance options, if you refinance into a private loan. If you file for bankruptcy, you may still be required to pay back this loan. See https://studentaid.gov/ for more information.
2 Choosing to refinance to a longer term may lower your monthly payment, but increase the amount of interest you may pay. Choosing to refinance to a shorter term may increase your monthly payment, but lower the amount of interest you may pay. Review your loan documentation for the total cost of your refinanced loan.
3 Earnest clients may skip a payment through a one, 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. Interest will not be capitalized on loans originated to Michigan residents under the Regulatory Loan Act of 1963. Please be aware that a skipped payment does count toward the forbearance limits. 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.
4 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. For multi-party loans, only one party may enroll in Auto Pay.
5 You may be able to refinance your Earnest Student Loan Refinance again. To be eligible, the loan must have been disbursed more than 30 days ago, it must not be past due, and you must not be enrolled in a hardship or bankruptcy forbearance, skip a pay or any interest only repayment program. Keep in mind that a hard credit check will be required each time you refinance, which may impact your credit. Please review our Eligibility Guide & Requirements for further details.
Earnest Loans are made by Earnest Operations LLC. Earnest Operations LLC, NMLS #1204917. 300 Frank H. Ogawa Plaza, Suite 340, Oakland 94612. California Financing Law License 6054788. Visit www.earnest.com/licenses for a full list of licensed states. For California residents: Loans will be arranged or made pursuant to a California Financing Law License. Earnest student refinance loans are serviced by Earnest Operations LLC with support from Higher Education Loan Authority of the State of Missouri (MOHELA) (NMLS# 1442770). Earnest LLC and its subsidiaries, including Earnest Operations LLC, are not sponsored by agencies of the United States of America. © 2025 Earnest LLC. All rights reserved.