Until 2019, some internal contracts prevented Sallie Mae customers from refinancing their Earnest loan. However, as of 2019 these agreements have been revised and now any student loan agreement that meets the criteria set out by Earnest can receive refinancing regardless of the company that issued them. However, funding restrictions still exist for students from the states of Kentucky and Nevada.

“Loan forgiveness” is understood as the permanent interruption of any collection without any type of damage to the loan applicant. Only student loans issued by federal agencies are eligible for federal forgiveness. Since Earnest is a private company, loans issued by this agency are not eligible for federal forgiveness. However, before granting a loan, Earnest encourages its potential customers to look into other options offered by the state.

Many people may feel discouraged to learn that this company has been in business for less than 10 years. However, know that in this short time this company has already presented solid reasons why you should trust its services. Earnest has already extended 200,000 loans to students at over 600 different colleges. On the Trustpilot website, this company has been reviewed by over 5,000 customers and received an average score of 4.7 on a scale where the maximum score is 5. In addition, the review website US News named this company as the best company for loans students of 2022.