Earnest Student Loan review: flexibility to realize your dream

Read our Earnest Student Loan review learn how you can benefit from the exclusive advantages that this company offers!


by José Gonçalo

Published on 12/05/2022

Earnest Student Loan: best student loan companies on the market

Earnest Student Loan login
Read our full review of Earnest Student Loan. Source: Earnest

See this review about Earnest Student Loan, one of the best banks for students seeking student finance.

Earnest logo

Earnest Student Loan: find out how to apply!

Apply to Earnest Student Loan and get access to student loans free of most fees charged by other companies in the field. Find out more here!

The advantages that this company offers are unique. Therefore, you need to meet her. See the review below:

APRIt varies depending on the loan type and amount;
Loan PurposeFinancing of studies for undergrad, grad school, MBA, medical school, and law school students; student parent loan and student loan consolidation
Loan AmountsFrom $1,000 to all of your tuition fees (this includes tuition and fees, housing, utilities, transportation, books and supplies, dependent care and meals);
Credit NeededAt least 650 points;
Origination FeeNone;
Late FeeNone;
Early Payoff PenaltyNone;

Is the Earnest Student Loan a good option?

This company emerged in 2013 in the already competitive student loan market. Therefore, to attract customers, it needed to innovate regarding benefits and advantages.

It can be said that this venture was very successful in this regard. In less than ten years of activity, it already had more than 200 thousand customers.

For this, it created a mechanism that equals any competitor’s proposal. Plus, you get a $100 gift card at Amazon stores once your loan is accepted.

This company offers flexibility: 4 payment methods to choose from. You also have a longer grace period (9 months) and 0.25% discounts for activating the automatic payment option.

In the same service, you can get payable amounts to cover all your costs during college. In addition, you can count on a guarantor to increase your chances of getting the loan.

The pros and cons of the Earnest Student Loan

student balancing books
Loans for students. Source: Flickr

Indeed, several companies specialize in student loans. However, few have the differentials offered by Earnest.

However, you need to be aware of “weak points” to this student assistance. See the list below for a better understanding:


  • Free of major fees: Loans with no origination, application, or late fees;
  • One of the biggest shortages on the market: start paying 9 months after completing the course (most banks only offer a 6-month grace period);
  • Possibility of “skipping” a payment every 12 months without incurring fines;
  • Accepts registrations from individual or co-signed students.


  • Cosigned must demonstrate an annual income of $35,000 or more and a credit score of at least 650 points;
  • Kentucky and Nevada residents cannot apply for student loan refinancing;
  • The guarantor will never be able to get rid of this loan;
  • Requires a minimum score of 650.

What credit score do you need to apply?

This company’s website clearly states the minimum credit score required. If you are a student seeking this service, you will need a score of at least 650.

However, your score must be 700 points if you are seeking student refinance.

Earnest Student Loan application process

Find out how to request this service in our post below about how to apply!

Earnest Student Loan logo

Earnest Student Loan: find out how to apply!

Apply to Earnest Student Loan and get access to student loans free of most fees charged by other companies in the field. Find out more here!

About the author

José Gonçalo

I started reading about finance only to find better options than savings. Since then, I have never stopped studying finance, and I believe that writing about it is the best way to help individuals feel fulfilled and have a healthy financial life. Today, I balance finance and medical school studies.

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