Earnest vs. Sallie Mae: Which Student Loan Lender Is Better in 2025?

	4.8 View Rates	4.7 View Rates
Rates (APR)	4.50% – 16.70%	4.11% – 16.20%
Rates (APR)	Rates (APR)
4.50% – 16.70%	4.11% – 16.20%
Terms	$1K – 100% of certified costs	$1K – 100% of certified costs
Terms	Terms
$1K – 100% of certified costs	$1K – 100% of certified costs
Loan amounts	10 – 15 years	5, 7, 10, 12, or 15 years
Loan amounts	Loan amounts
10 – 15 years	5, 7, 10, 12, or 15 years
Min. credit score	Mid-600s	650
Min. credit score	Min. credit score
Mid-600s	650
	See the Best Private Student Loans

If you need extra funding for college, it’s time to turn to private student loans. Earnest and Sallie Mae are some of the most notable lenders offering private student loans today, and given the similarities between each lender’s rates and terms, it can be tough to choose. 

If finding the lowest cost is your top priority, there’s no harm in getting prequalified with both lenders to see what rates and options they can offer you. Otherwise, there are some smaller details that can make a big difference later on for some people. 

We’ll cover the most important points of comparison between Earnest vs. Sallie Mae to help you decide.

Table of Contents

1. Earnest vs. Sallie Mae: Rates, terms, and eligibility
2. Earnest vs. Sallie Mae: When each is best
   1. You’re a non-traditional student: Sallie Mae
   2. You want to build a relationship with the same lender: Earnest
   3. You want to release your cosigner later: Sallie Mae
   4. You want more payment flexibility: Earnest
   5. You live in Nevada: Sallie Mae
3. Alternatives to Earnest and Sallie Mae
   1. College Ave
   2. Capable
   3. SoFi

Earnest vs. Sallie Mae: Rates, terms, and eligibility

Earnest vs. Sallie Mae: When each is best

Earnest and Sallie Mae offer similar private student loans, but there are some differences that might be important for some people. Let’s take a look. 

If you …	Consider …
Are a non-traditional student	Sallie Mae
Want to build a relationship with the same lender	Earnest
Want to release your cosigner later	Sallie Mae
Want more payment flexibility	Earnest
Live in Nevada	Sallie Mae

You’re a non-traditional student

It’s common for lenders to restrict student loans to people on set educational tracks, so they have a better chance of repayment later on. That’s not a problem if you’re entering a run-of-the-mill program for a bachelor’s or graduate degree and studying full-time, which many lenders, like Earnest, require. 

But if you’re not following a typical educational trajectory, Sallie Mae might be your better option. It doesn’t set any requirements for being enrolled as a degree-seeking student, nor require you to take a certain course load each semester. You can study as you like, as long as you’re prepared to repay it later.

Winner

Sallie Mae

You want to build a relationship with the same lender

Many student loan borrowers are unhappy when, later on, their lender hires a totally separate company—whom they have no say in—to service their loan. That’s not the case with Earnest, though; if you choose this lender, it’s the only company you’ll be working with.

Even better, Earnest offers student loan refinancing, while Sallie Mae doesn’t. If you qualify for better rates and terms after graduating, or just want to free up your cosigner, you can choose from customizable term length options to dial in your monthly payment right where you want it.

Winner

Earnest

You want to release your cosigner later

Cosigners put their credit on the line to help young students out, and it’s kind to repay the favor by removing them from the loan as soon as possible in case you run into any loan mishaps later on. 

Not all lenders allow that, though; in fact, Earnest doesn’t. (It prefers that you refinance your loans instead.) However, Sallie Mae lets borrowers apply to remove their cosigner after they’ve made 12 months of on-time payments and meet other requirements.

Winner

Sallie Mae

You want more payment flexibility

You can’t always predict your salary despite getting a college degree, and private student loans generally don’t come with as many repayment options as federal student loans. While Sallie Mae does allow you to make 12 months of interest-only payments after your grace period ends, Earnest offers better long-term options. 

To start, Earnest offers a longer grace period: nine months, instead of six months with Sallie Mae. Once per year, you can also request to skip a payment, assuming you’ve been paying on time. (Be aware it counts toward your 12-month limit on forbearance requests, though.) Plus, you can always refinance with Earnest, too.

Winner

Earnest

You live in Nevada

It’s an easy choice between Earnest and Sallie Mae if you happen to live in Nevada. Sallie Mae doesn’t outline any state-based lending restrictions on its website, so it should still be available to Nevada residents. Earnest, on the other hand, doesn’t offer loans if either the borrower or cosigner lives in the Silver State.

Winner

Sallie Mae

Alternatives to Earnest and Sallie Mae

It’s a good idea to compare your student loan options with other lenders to make sure you’re on the right track. In our editorial ratings, we’ve named Earnest the best for repayment perks and Sallie Mae the best for cosigners. If you’re weighing those options but want to explore alternatives, here are three lenders that bring their own advantages to the table:

College Ave

College Ave combines competitive rates with a borrower-friendly approach. Its standout feature is the “Multi-Year Peace of Mind” program, which allows most students to secure funding for future semesters without reapplying from scratch. This can save time and reduce stress while ensuring continued access to financing.

Capable (powered by Sallie Mae)

Capable focuses on giving students more flexibility in how they repay their loans. Borrowers can start with smaller payments, adjust over time, or choose a plan that matches their changing financial circumstances. This adaptability makes it appealing for students who want more control over repayment than standard loan structures typically allow.

SoFi

SoFi offers competitive rates similar to Earnest and Sallie Mae, but it stands out for graduate students and borrowers interested in extra perks. Those who also use SoFi’s banking or investing products can unlock rate discounts, and the lender tends to be more favorable for borrowers at the higher end of the interest-rate range. It’s a solid choice for students who want their lender to provide broader financial benefits.

How we rated Sallie Mae and Earnest

We designed LendEDU’s editorial rating system to help readers find companies that offer the best student loans. Our system awards higher ratings to companies with affordable solutions, positive customer reviews, and online transparency of benefits and terms.

We compared Sallie Mae and Earnest to several student loan lenders, using hundreds of data points from company websites, public disclosures, customer reviews, and direct communication with company representatives. We weighted, scored, and combined each factor to produce a final editorial rating. This rating is expressed on a scale from 1 to 5, with 5 being the highest possible score. Our take on each company is represented in our ratings and best-for designations, recapped below.