Earnest is an online lender and fintech company founded in 2013 and headquartered in San Francisco, California. The company has refinanced more than $24 billion in student loans and has worked with over 420,000 borrowers.

Earnest specializes in student loan refinancing and private student loans, offering flexible repayment terms of 5 to 20 years. Their loans don’t have any application, origination or prepayment fees. But, loans are not available in Nevada or Mississippi. 

The lender also allows eligible borrowers who’ve made at least six consecutive on-time payments to skip one monthly payment every 12 months. Interest continues to accrue during the skipped month, but this feature can provide short-term flexibility for qualified borrowers.

• Loan terms: Borrowers can pick from over 180 customizable terms between five and 20 years. Kentucky residents who refinance $15,000 or less have a maximum repayment term of 10 years.
• Loan amounts: $5,000 to $500,000. Requires a minimum of $10,000 or more for California residents, and $10,001 or more for New Mexico residents.
• Soft credit check offered: Yes.
• Allows you to transfer a parent loan to a child: No. Earnest doesn’t allow parents to transfer a loan to a child after they graduate.
• Application or origination fee: None.
• Prepayment penalty: None.
• Late fees: None.

You’ll have to meet Earnest’s eligibility criteria to refinance your student loan. The company has various requirements for applicants to meet:

• Loan servicer: Earnest Operations LLC, with support from MOHELA.
• Online chat support (Bot, live or both): Both. Earnest’s virtual agent, Atlas, can answer questions about loan services and products, and connect users to a live agent.
• Physical location or branch:  No.
• In-house customer service representatives: Yes, representatives can be contacted through email or their refinance and private loans number.
• FAQ experience: Available. Earners answers over 65 questions regarding eligibility, application, repayment and account management.
• Provides borrowers a representative who works with them throughout the entire repayment process: No. 
• Offers a process for making and escalating complaints: Borrowers are encouraged to call their Client Happiness team or email them. 
• Has tools that allow applicants to calculate potential monthly payments: Yes, they have a Student Loan Refi Calculator and Student Loan Repayment Calculator
• Typical time from loan approval to funding: Typically, applicants can expect a decision within two to five business days, and have a 30-day window to accept a refinance offer. It generally takes 10 USPS days (Monday through Friday) to send funds to your previous servicer. Once a borrower signs for their loan, funding takes three days. 
• Earnest’s track record with customers: 

Earnest has a score of 4.6 out of five on Trustpilot, with over 7,000 reviews. Most positive reviews highlight the lender’s quick and transparent application process, competitive rates, and responsive customer support. A smaller number of complaints mention technical issues with the online platform or dissatisfaction with the rate offers compared to expectations.

Not all Trustpilot reviews are specific to Earnest’s student loan refinance product. They reflect interactions with many of Earnest’s other products.

Earnest has received 71 Consumer Financial Protection Bureau (CFPB) complaints over the last 12 months.

Fifty-five of those complaints are related to Earnest’s student loan products. Most center on issues involving the lender or servicer, including communication and payment processing.

All complaints during this period were closed with an explanation.

Earnest offers Payoff Path, a free tool that creates a personalized debt payoff plan for borrowers who need help managing debt. It is available to Earnest customers and non-customers.

1. Check your eligibility.

   Earnest generally looks for borrowers with strong credit, stable income and a history of responsible financial management. Make sure you meet basic requirements around employment and degree completion before applying.

2. Start with pre-qualification.

   Complete Earnest’s online pre-qualification form to see your estimated rate options. This step uses a soft credit check, so it won’t impact your credit score.

3. Customize your loan terms.

   If you qualify, Earnest allows you to choose a precise monthly payment and repayment term within its available range. This feature lets you see how adjusting your term affects your rate and total cost.

4. Submit the full application.

   Once you select your preferred terms, you’ll complete a formal application and upload documentation to verify income, employment and existing loan balances. This step includes a hard credit check.

5. Sign and transition your loans.

   After approval, go over and sign your final loan agreement. Earnest will then pay off your existing lenders directly, and you’ll begin making one consolidated payment under your new rate and repayment schedule.

If you’re unsure whether Earnest’s underwriting criteria coincide with your financial profile, pre-qualifying can help you understand your potential eligibility before moving forward.

Finly reviews student loan refinance lenders using a transparent, borrower-first methodology built around real financial outcomes. We evaluate lenders across six weighted categories—including cost, protections, flexibility and accessibility—using a structured scoring model grounded in what matters most to borrowers.

Our ratings are developed independently and regularly updated to reflect current rates, terms and lender policies, helping you compare options with clarity and confidence. Take a look at our Methodology page for an even more in-depth view of our scoring process.