Many or all companies we feature compensate us. Compensation and editorial
research influence how products appear on a page.
Student Loans

Earnest Student Loans and Refinancing Review 2025: Flexible Repayment, No Fees, and Large Loan Options

Our Take: Earnest stands out in the student loan market by offering flexible repayment terms, no origination, late payment, or prepayment fees, large loan amounts, skip-a-payment features, and extended grace periods (longer than industry standard). See our full, in-depth student loan review and student loan refinance review below.

Best for Large Loans

4.7 /5
Private Student Loans
  • Loans for undergraduates, graduates, parents, and more
  • Choose an in-school repayment plan or defer payments
  • No fees, including late payment or origination fees
  • 9-month grace period is longer than other lenders
  • Skip one payment per year without penalty
  • Check your eligibility in two minutes without impacting your credit score
  • Doesn’t allow for cosigners to be released
  • Must be enrolled at least half-time
  • Not available in Nevada
Rates (APR)4.11%16.20%
Loan amounts$1,000 – 100% of certified costs
Repayment terms5, 7, 10, 12, or 15 years
Student Loan Refinance
  • Consolidate federal and private student loans
  • Choose between biweekly and monthly payments
  • Adjust your payment date if needed
  • Make extra or early payments with no fees
  • Skip one payment per year without penalty
  • Cosigners must reside in the same state as the borrower
  • Not available in Nevada
Rates (APR)5.19% – 9.74%
Loan amounts$5,000 – $500,000
Repayment terms5 – 20 years
Min. credit score665
Table of Contents

Student loans

Best for Large Loans

4.7 /5
Private Student Loans
  • Loans for undergraduates, graduates, parents, and more
  • Choose an in-school repayment plan or defer payments
  • No fees, including late payment or origination fees
  • 9-month grace period is longer than other lenders
  • Skip one payment per year without penalty
  • Check your eligibility in two minutes without impacting your credit score
  • Doesn’t allow for cosigners to be released
  • Must be enrolled at least half-time
  • Not available in Nevada
Rates (APR)4.11%16.20%
Loan amounts$1,000 – 100% of certified costs
Repayment terms5, 7, 10, 12, or 15 years

Rates and terms

TermDetails
Fixed rates (APR)3.47%16.49%
Variable rates (APR)4.99%16.85%
Rate discounts0.25% autopay
Loan amounts$1,000 – 100% of certified costs
Repayment terms5, 7, 10, 12, or 15 years
Grace period9 months
Cosigner releaseNone
FeesNone

Earnest’s nine-month grace period is longer than the six-month standard, giving recent graduates extra time before repayment. However, Earnest doesn’t offer a cosigner release option, which could be limiting for borrowers seeking to eventually take full responsibility for the loan.

Loan types

Loan typeRates (APR)
Undergraduate4.11%16.20%
Graduate4.11%16.20%
Parent4.11%16.20%

Eligibility

RequirementDetails
CitizenshipU.S. citizen or permanent resident
EnrollmentAt least half-time in a Title IV accredited school
Credit scoreMinimum of 650 for private loans; 665 for refinancing
IncomeMinimum annual income of $35,000
State availabilityNot available in Nevada

Repayment

  • Deferred: No payments while in school.
  • Interest-only: Pay only the interest while in school.
  • Fixed $25 payments: Make fixed payments of $25 per month while in school.
  • Full payments: Start full principal and interest payments immediately.

How to apply

  1. Prequalification: Check your eligibility with a soft credit inquiry.
  2. Application: Complete the online application with necessary documents.
  3. Selection: Choose your loan terms and repayment plan.
  4. Certification: Earnest verifies your enrollment and certifies the loan amount with your school.
  5. Disbursement: Funds are sent directly to your school.

Alternatives

If you’re looking for alternatives—a company that offers cosigner release or one available in Nevada—check out our highest-rated student loan lenders.

Sallie Mae offers cosigner release after just 12 months, and College Ave, Sallie Mae, and SoFi are available in all 50 states.

Company Best for… Rating (0-5)
Best for Large Loans
Best Overall
Best for Cosigners
Best for Member Benefits

Student loan refinance

Best Skip-a-Payment Benefit

4.6 /5
Student Loan Refinance
  • Consolidate federal and private student loans
  • Choose between biweekly and monthly payments
  • Adjust your payment date if needed
  • Make extra or early payments with no fees
  • Skip one payment per year without penalty
  • Cosigners must reside in the same state as the borrower
  • Not available in Nevada
Rates (APR)5.19% – 9.74%
Loan amounts$5,000 – $500,000
Repayment terms5 – 20 years
Min. credit score665

Rates and terms

FeatureDetails
Fixed rates (APR)3.99%9.74%
Variable rates (APR)5.74%9.74%
Rate discounts0.25% autopay
Loan amounts$5,000 – $500,000
Repayment terms5 – 20 years
Cosigner releaseNone
FeesNone

Variable rates are unavailable in Alaska, Illinois, Minnesota, New Hampshire, Ohio, Tennessee, and Texas.

Features

  • Consolidate loans: Combine federal and private loans into one.
  • Flexible payments: Choose between biweekly and monthly payments.
  • Adjust payment dates: Change your payment date as needed.
  • No fees: No prepayment penalties or fees.

Eligibility

Here are Earnest’s eligibility criteria for refinancing:

RequirementDetails
CitizenshipU.S. citizen or permanent resident
Graduation statusEnrolled less than half-time, in your last semester, or have graduated
Credit score665 for refinancing
IncomeMinimum annual income of $35,000
State availabilityNot available in Nevada

Repayment

Earnest stands out to us as a flexible lender for two reasons:

  • Skip a payment: Earnest allows eligible borrowers to skip one payment per year without penalty. This is processed as a one-month forbearance and counts against the total 12-month forbearance allowance over the life of the loan.
  • Grace period: Earnest offers a 9-month grace period, giving borrowers extra time to secure employment before starting repayments.

How to apply

  1. Prequalification: Check your eligibility with a soft credit inquiry.
  2. Application: Complete the online application with necessary documents.
  3. Selection: Choose your loan terms and repayment plan.
  4. Disbursement: Upon approval, funds are sent directly to your current lender to pay off your debt in full. Your loan amount will then be available to repay via Earnest.

Here’s what to consider before you decide to take out a student loan with Earnest.

Alternatives

We’re fans of Earnest’s refinance program, but here’s how it stacks up against three other excellent refinance lenders. Take a look at Credible if you’re not sure Earnest is right for you: You can see your prequalified rates with several lenders at once without any effect on your credit.

Company Best for… Rating (0-5)
Best Skip-a-Payment Benefit
Best for Comparison Shopping
Best Online Lender
Best Personalized Support
4.5
View Rates
Powered by Credible

Earnest pros and cons

Pros

  • No fees for application, origination, or late payments

  • Flexible repayment options

  • Ability to skip one payment per year

  • Extended 9-month grace period

  • Competitive interest rates

Cons

  • No cosigner release option

  • Not available in Nevada

  • Higher credit score requirements than several competitors

Earnest customer reviews and reputation

Earnest earns high praise on Trustpilot for its transparent terms and user-friendly digital experience.

SourceCustomer ratingNumber of reviews
Trustpilot4.6/56,995
BBB1.22/59

Collected on April 23, 2025.

While Trustpilot reviews suggest most borrowers are satisfied, it’s important to understand that negative BBB and Google reviews typically come from more complex customer service interactions. Earnest handles all servicing in-house, which can lead to a smoother experience for most borrowers.

How to contact Earnest

Earnest provides dedicated customer service to its borrowers, handling all aspects of loan servicing in-house, including repayment management and communication. When you need help, you’ll deal with Earnest’s team rather than being passed to a third-party loan servicer.

Affectionately referred to as the “Client Happiness” team, Earnest’s customer service department is committed to answering all your questions and assisting you during office hours. The team can help with various inquiries, from general to account-specific.

Here’s how you can reach Earnest’s customer service:

  • Email: [email protected]
  • Phone: Call 888-601-2801 between 5 a.m. and 5 p.m. Pacific time, Monday to Friday.
  • Chat: Click the chat icon in the bottom right corner to access Earnest’s virtual assistant anytime. If it can’t assist you, a team member will chat with you during regular office hours.
  • Mailing address: For written correspondence (not payments), you can write to: P.O. Box 9250, Wilkes-Barre, PA 18773-9250.

Final verdict: Is Earnest right for you?

Earnest is one of the best choices for borrowers who want large loan amounts, no fees, and maximum repayment flexibility. It’s especially strong for:

  • Students who want to customize their loan term down to the month
  • Borrowers looking to skip a payment once a year without penalties
  • Graduates who need a longer grace period before repayment starts

However, if you want a cosigner release or live in Nevada, you may need to look elsewhere. And if your credit profile or income is below Earnest’s thresholds, you may need a more flexible lender.

Still, for qualified borrowers, Earnest offers a rare mix of affordability, ease, and control—making it a top-tier pick for both student loans and refinancing.

How we rated Earnest student loans and refinancing

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

We compared Earnest to several student loan and refinancing 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 is represented in our rating and best-for designation, recapped below.

Company Best for… Rating (0-5)
Best for Large Student Loans
Best Skip-a-Payment Benefit for Refinanced Student Loans

Private student loan disclosure: Earnest Private Student Loans are made by One American Bank, Member FDIC, or FinWise Bank, Member FDIC. One American Bank, 515 S. Minnesota Ave, Sioux Falls, SD 57104. Finwise Bank, 756 East Winchester, Suite 100, Murray, UT 84107.

Earnest loans are serviced by Earnest Operations LLC, 300 Frank H. Ogawa Plaza, Suite 340, Oakland 94612. NMLS #1204917, with support from Higher Education Loan Authority of the State of Missouri (MOHELA) (NMLS# 1442770) One American Bank, FinWise Bank, and 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.

Student loan refinance disclosure: 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 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.