Whether you need a private student loan or are refinancing your existing student loans, finding the right company is crucial. When you sign up for a student loan, you’re entering into a contract that can last for years or decades. Who you choose to borrow from could make your life easier—or harder.
That’s why comparing lenders is so important. College Ave and Earnest are two popular lenders offering private student loans and student loan refinancing. In this comparison, you’ll find out the differences between the two companies, their benefits and drawbacks, and which is the better option for you.
Click one of the options below to compare the two companies by that product.
Table of Contents
- College Ave vs. Earnest private student loans: Everything you need to know
- College Ave vs. Earnest student loan refinancing: Everything you need to know
- Which company is our choice between College Ave and Earnest for student loan refinancing?
- Does College Ave or Earnest have better customer reviews and ratings?
College Ave vs. Earnest private student loans: Everything you need to know
Information advertised valid as of 05/04/2026. Variable interest rates may increase after consummation. Approved interest rate will depend on creditworthiness of the applicant(s).
All rates shown 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.
College Ave Student Loan Servicing, LLC, NMLS#1263410 NMLS Consumer Access
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
In-School Loans Disclosures
Earnest Private Student Loans are subject to credit approval. Before applying for private student loans, it’s best to maximize your other sources of financial aid first. It’s recommended to use a 3-step approach to assembling the funds you need: 1) Look for funds you don’t have to pay back, like scholarships, grants, and work-study opportunities. 2) Next, fill out a FAFSA® form to apply for federal student loans options. 3) Finally, consider a private student loan to cover any difference between your total cost of attendance and the amount not covered in steps 1 and 2. For more information, visit the Department of Education website at studentaid.gov.
Auto Pay Discount
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.
Cosigner Release
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.
Grace Period
Nine-month grace period is not available for borrowers who choose our Principal and Interest Repayment plan while in school.
Loan Cost Examples
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.
Loan Minimum
Residents of Hawaii must request a loan of at least $1,501.
Repayment Terms and Options
Repayment terms and repayment options available vary based on loan type.
Skip a Payment
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.
No Fees
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. 78-8016373916-1.
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.
Interest Rates Disclosure:
Includes 0.25% Auto Pay discount. Actual rate and available repayment terms will vary based on your financial profile. Fixed annual percentage rates (APR) range from 3.04% to 16.74% (2.79% – 16.49% with Auto Pay discount). Variable annual percentage rates (APR) range from 5.24% to 17.1% (4.99% – 16.85% with Auto Pay discount). 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 borrowers 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.
fixed rates (with all discounts)
4.44% – 15.99%
4.13% – 17.99%ⓘ
variable rates (with all discount)
4.13% – 17.99%
4.13% – 17.99%ⓘ
terms
5, 7, 10, 12, 15, or 20 years
5, 7, 10, 12, or 15 years
Min Credit Score
Not disclosed
650
Grace period
6 months
9 months
| Lender | College Ave | Earnest |
| Grace period | 6 months for most borrowers, up to 36 months for medical graduates | 9 months |
| Extra benefits | Borrowers can enter to win a $1,000 scholarship from College Ave | Skip one payment once per year |
| In-school repayment options | Full principal and interest payments, interest-only payments, $25 fixed payments, and deferred payments | Full principal and interest payments, interest-only payments, $25 fixed payments, and deferred payments |
| Cosigner release | Yes | Yes |
| Discounts | 0.25% interest rate discount for automatic payments | 0.25% interest rate discount for automatic payments |
| Fees | No origination, application, or prepayment fees | No origination, application, or prepayment fees |
College Ave and Earnest both offer similar repayment options, and both include a wide range of terms. This provides borrowers the opportunity to choose the repayment term that best fits their budget and lifestyle.
Neither lender charges origination, application, or prepayment penalties, and both offer a 0.25% interest rate discount if you sign up for autopay.
One of the main differences between the two lenders is that Earnest offers a nine-month grace period, while College Ave only offers a six-month grace period. Earnest also lets borrowers skip one payment a year, while College Ave does not.
Is a private student loan from College Ave or Earnest more accessible?
When applying for a private student loan, you will have to undergo a credit check and supply income verification. Most undergraduate students will need a cosigner because they won’t fulfill the credit score and income requirements.
College Ave has a minimum income requirement of $35,000, while Earnest does not have a minimum income requirement. Earnest has a minimum credit score of 650, but College Ave does not share its credit score requirement.
Scenarios in which College Ave or Earnest is better than the other for private student loans
If you’re looking for a student loan, you should compare companies carefully and decide what you need from a lender. Read below to figure out which scenarios apply to you so you can choose the best provider for your situation.
| Choose College Ave if … | Choose Earnest if … |
| You want a program-specific lending option | You want a longer grace period (for most borrowers) |
| You are a medical or veterinary student who needs a longer grace period or repayment term | You want fewer fees, including no late fees |
| You want a high likelihood of approval for additional funding while in school | You want repayment flexibility and rate-matching |
Which company is our choice between College Ave and Earnest for private student loans?
It depends on your situation. Each lender has unique benefits for specific borrower types. While we tend to think College Ave may be a better choice for those who plan on attending medical, dental, or veterinary school, Earnest also offers strong options for those borrowers, as well more repayment flexibility for undergraduate loans.
College Ave vs. Earnest student loan refinancing: Everything you need to know
View Rates
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View Rates
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| Rates (APR) | 6.99% – 13.99% | Start at 5.19% fixed and 5.99% variable |
| Rates (APR) | Rates (APR) | |
| 6.99% – 13.99% | Start at 5.19% fixed and 5.99% variable | |
| Loan amounts |
Up to $150,000 for most undergraduate or graduate degrees Up to $300,000 for medical, dental, pharmacy or veterinary doctorate degrees |
$5,000 – 105% of you student loan amount |
| Loan amounts | Loan amounts | |
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Up to $150,000 for most undergraduate or graduate degrees Up to $300,000 for medical, dental, pharmacy or veterinary doctorate degrees |
$5,000 – 105% of you student loan amount | |
| Repayment terms | 5 – 20 years | 5 – 20 years |
| Repayment terms | Repayment terms | |
| 5 – 20 years | 5 – 20 years | |
| See top companies | ||
College Ave and Earnest both provide student loan refinancing with long repayment terms, low fees, and autopay discounts.
However, College Ave only offers a maximum term of 15 years, while Earnest offers a maximum term of 20 years. This can provide more wiggle room for borrowers when it comes to repayment.
If you owe tens of thousands or even hundreds of thousands of dollars in loans, having an extra five years to repay them could make a huge difference in your monthly payments.
Is a refinance student loan from College Ave or Earnest more accessible?
When you’re interested in refinancing your student loans, the first step is to see if you qualify. As with taking out the initial student loans, there are certain requirements you must fulfill to refinance your student loans.
Lenders will check your credit score and verify your income. Your credit score shows if you have a history of paying back your loans on time, and your income will prove that you can afford the monthly payment. If you don’t meet the lender’s standards, they may require a cosigner who does have good credit and a steady income.
| College Ave | Earnest | |
| Min. credit score | Not disclosed | 650 |
| Min. income | $50,000 | Not disclosed |
| Cosigner requirement | Can be added | Can be added |
| Citizenship | U.S. citizen or permanent resident | U.S. citizen or permanent resident |
| Graduation requirement | Must have graduated | Have graduated or graduating by the end of the current semester |
Scenarios in which College Ave or Earnest is better than the other for student loan refinancing
Not every lender is created equal. And depending on your personal circumstances, there may be one lender that is the clear favorite. Look below for the specific situations when one lender is best.
| Choose College Ave if … | Choose Earnest if … |
| You want a custom repayment term | You want payment flexibility |
| You want lower interest rates | |
| You want a longer repayment term |
If you want more payment flexibility: Earnest
If you refinance student loans with Earnest, you can skip one payment each year for free. This is a unique perk that is not available with College Ave. Borrowers can use this extra money to pay other bills or to cover an emergency expense.
Earnest also lets borrowers make payments twice a month instead of once a month. This could make it easier to line up your student loan payments with your paycheck, making budgeting simpler.
If you want lower interest rates: Earnest
Earnest offers lower starting interest rates for student loan refinancing than College Ave.
While a difference of less than a percent may seem small, it could cost you thousands more over the life of the loan. However, since you’re not guaranteed to receive the lowest rate from either lender, it’s still smart to shop around and ensure you’re getting the best deal.
If you want a long repayment term: Earnest
Earnest offers refinancing terms up to 20 years, while the maximum repayment term for College Ave is 15 years. The longer the repayment term, the lower your monthly payment will be. However, spreading the payments out over a greater number of years will also result in owing more interest over the life of the loan.
Borrowers who are looking for the lowest possible monthly payment may appreciate a longer repayment term.
If you want a custom repayment term: College Ave
College Ave lets borrowers pick a repayment term between five and 15 years. You can choose whichever term you want based on the monthly payment, interest rate, and your other financial goals. This customization option is unique to College Ave and not available with Earnest.
Which company is our choice between College Ave and Earnest for student loan refinancing?
When deciding between College Ave and Earnest, we recommend Earnest. They have low interest rates, a wide range of repayment terms, and other unique benefits.
Borrowers who choose Earnest can skip one payment each year for free. This payment flexibility puts Earnest in the lead and makes them our pick for student loan refinancing.
Does College Ave or Earnest have better customer reviews and ratings?
When you take out a student loan, you’re signing up for a long-term relationship with a specific company. And while interest rates, repayment terms, and other perks matter, you should also consider customer reviews which will show you how easy a company is to deal with.
| Lender | Trustpilot |
| College Ave | 4.5 out of 5 |
| Earnest | 4.6 out of 5 |
About our contributors
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Written by Zina KumokZina Kumok is a personal finance writer dedicated to explaining complex financial topics so real people can understand them. As a former newspaper reporter, she has covered everything from murder trials to the Final Four.
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Edited by Amanda HankelAmanda Hankel is a managing editor at LendEDU. She has more than seven years of experience covering various finance-related topics and has worked for more than 15 years overall in writing, editing, and publishing.