Earnest Student Loan Refinancing Review 2025

Earnest is an online lender offering student loan refinancing with a flexible, “pick what you pay” approach. The lender stands out for its customizable repayment options, allowing you to choose between monthly or biweekly payments that fit your budget. Borrowers with fair credit may qualify, and you can check your rate in just two minutes without impacting your credit score.

Find out if Earnest is the right lender for you in our Earnest student loan refinancing review.

Earnest student loan refinancing review

Best for: Fair-credit borrowers

Earnest offers student loan refinancing to borrowers with fair credit, requiring a minimum credit score of 665. While this score is below what's considered “good” by most credit standards, it opens up opportunities for borrowers who might not qualify elsewhere.

See Also: Credit Score Needed for Student Loans

To be eligible, you must not have any bankruptcies or recent collection actions on your credit report, and all student loan and mortgage accounts must be in good standing. Additional requirements may apply, so it's important to review the details before starting your application.

Pros and cons

Pros of refinancing with Earnest

• Low credit score requirement: Earnest's minimum credit score of 665 makes refinancing accessible for borrowers with fair credit.
• Flexible repayment options: Unlike most private lenders that lock you into a fixed repayment timeline, Earnest lets you customize your monthly payment amount, giving you greater control over your budget.
• Skip-a-payment feature: Earnest allows borrowers to skip one payment every 12 months without penalties, offering flexibility during financial challenges.
• Strong reviews and ratings: Earnest has a 4.6-star “excellent” rating on Trustpilot and an A+ rating from the Better Business Bureau.

Cons of refinancing with Earnest

• Limited state availability: Borrowers in Nevada are not eligible for refinancing with Earnest.
• Restrictions on certain loans: You can't refinance debt from for-profit schools or incomplete degrees unless you're in your final semester.
• Minimum refinancing amount: Earnest requires a minimum loan balance, which might not work for borrowers with smaller remaining balances.
• You may not be able to refinance with a cosigner: If you already qualify based on your own credit, you won't have the option to refinance with a cosigner to potentially secure a lower rate, even if your cosigner has better credit.

See Also: Best Student Loan Refinance Companies of 2025

Who is eligible?

To qualify for refinancing with Earnest, you'll need to meet certain requirements. These include:

• Credit score: You must have a minimum credit score of 665 (or 700 if you haven't finished your degree).
• Citizenship: You must be a U.S. citizen, have a Permanent Resident Card, be a Deferred Action for Childhood Arrivals (DACA) recipient, be an asylee, or have an H-1B visa with a U.S. citizen as a cosigner.
• Age: You must be the age of majority in your state.
• Current loan: You must be the primary borrower on your current loans and have acquired the debt from your own education costs at a Title IV-accredited school.
• Income: You need to be employed, have consistent income, and have no regular late, overdraft, or insufficient funds fees on your bank account. You also must have at least two months of expenses in savings, spend less than you earn, and have increasing bank balances.
• Other financial factors: You must be current on your rent or mortgage payments, have no bankruptcy or collection attempts on your credit report, and be in good standing on all student loans.
• Cosigners: Earnest allows some borrowers who don't meet its eligibility requirements to apply with a cosigner. However, if you already meet Earnest's credit standards, you won't qualify for cosigner refinancing. This means you won't have the option to secure a better rate even if your cosigner has stronger credit.

Earnest has a full eligibility guide you can view to see if you might qualify to refinance your student loans through the company.

How much can I refinance?

The minimum amount of student loans you can refinance at Earnest is $5,000 in most states, though you can refinance up to $550,000 in debts that qualify. If you're located in California, you'll need to refinance at least $10,000, and in New Mexico, it's $10,001.

Repayment options

Earnest offers flexible repayment options, giving you more control over your monthly payment amount than most other lenders. Instead of preset repayment plans, you can adjust your payment in increments of $5 to better fit your budget. This approach ensures your loan terms are tailored to your needs.

Earnest also provides several programs to support borrowers facing financial challenges:

• Short-term interest-only payments: Borrowers can make reduced payments covering only the interest for up to 24 months, in 3-month increments. This helps manage costs during temporary setbacks, though it will extend your loan term by the same length of time.
• Skip-a-payment feature: Earnest allows you to skip 1 payment every 12 months after making 6 consecutive on-time payments. Interest accrues during this time, but this option can provide relief for unexpected financial strain.
• Forbearance: If you're experiencing temporary financial hardship, you may qualify for forbearance. While payments are paused, interest continues to accrue, so it's best used as a last resort.
• Loan discharge: In cases of the borrower's death or total and permanent disability, Earnest will forgive the remaining student loan balance.

Notable benefits

• Fair-credit approval: Earnest accepts borrowers with credit scores as low as 665, which is lower than the 670+ requirement typical of many lenders.
• No fees: There are no application, origination, or prepayment fees when you refinance with Earnest.
• Payment flexibility: Earnest offers unique features, such as the option to skip 1 payment per year and short-term interest-only payments for up to 24 months, to help you manage financial challenges.
• Refinancing for near-graduates: Students in their final semester of school are eligible to refinance before completing their degree, which could make it easier to lock in better terms sooner.
• Autopay discount: You can lower your interest rate by 0.25 percentage points when you enroll in automatic payments. This means loan payments are automatically deducted from your bank account.

Should I refinance with Earnest?

Earnest could be a good fit if you have a credit score of 665 or higher and want flexibility in structuring your payments. The lender also offers specialized refinancing options tailored to MBA, medical school, and law school graduates, making it a strong choice for borrowers in these fields.

See Also: When Is the Best Time To Refinance Student Loans?

However, if you have federal student loans, refinancing might not be the best move. Switching to a private lender means giving up federal benefits like loan forgiveness programs, income-driven repayment plans, and financial hardship options. Be sure to weigh these trade-offs carefully before making a decision.

How to refinance with Earnest

Refinancing with Earnest is a straightforward process that can be completed online or over the phone. It starts with checking your interest rate, which only takes about two minutes and doesn't affect your credit score. If you're satisfied with the rate, the next step is completing Earnest's full application. This requires details about your finances, income, and an official credit check.

Once your application is submitted, Earnest will evaluate it and either provide a decision or request more information, typically within 48 hours. If you're approved, you'll have the chance to customize your repayment terms and payment schedule before signing the loan agreement. After Earnest pays off your existing loans, you'll begin making payments on your new refinanced loan directly to Earnest.