Earnest offers accessible student loans and student loan financing, but there are conditions that you’ll need to meet to become eligible, including:
Independent Student Loan
- US Citizen or permanent resident
- Enrolled at least half-time in a qualifying school
- The qualifying school is a Title IV, not-for-profit, 4-year institution
- A minimum credit score of 650
- At least 3 years of credit history
- No previous bankruptcies
- History of on-time payments as a primary borrow
- No accounts currently in collections
Co-signed Student Loan
- US Citizen or permanent resident
- Co-signer must be of the age of majority in their state of residence
- Undergraduates must be enrolled at least half-time in a qualifying school
- The qualifying school is a Title IV, not-for-profit, 4-year institution
- The student is pursuing a Bachelor’s or Graduate degree
- Co-signer needs a minimum credit score of 650
- Co-signer must have at least 3 years of credit history
- Co-signer must have a minimum income of $35,000
- Neither co-signer of the primary have a bankruptcy on their credit report
- Co-signer and primary have a history of on-time payments
Student Loan Refinancing
- US Citizen or permanent resident
- Current enrolment status is less than half-time, and your student loans are being repaid
- You are the age of majority in the state you reside
- You are the primary borrower on the loan you want to refinance
- The debt relates to a qualifying school
- The qualifying school is a Title IV, not-for-profit, 4-year institution
- The refinancing amount must be greater than $5,000
- A minimum credit score of 650
- You must display a consistent level of income
- Loan accounts must be in good standing
- You are current on rent or mortgage payments
- You do not have bankruptcy on your credit history.
You can borrow between $1,000 and $500,000 across Earnest’s loan products, and the APR rates offered are competitive. One of the main benefits that Earnest offers is its flexible repayment terms. You can choose to skip one payment every year, and Earnest offers a nine-month grace period, which is longer than most competitors offer.
