Refinancing student loans with Earnest may benefit borrowers who don’t necessarily have high credit scores but are otherwise in good financial standing. A subsidiary of Navient, Earnest uses an algorithmic model to approve borrower rates and terms. However, the Earnest website includes multiple inconsistencies regarding eligibility requirements; in some cases, these apparently conflicting claims appear on the same page and within paragraphs of each other.
| Loan Limits | $5,000 – $500,000 |
| Fixed Rates | 3.72%* – 10.24% |
| Variable Rates | 5.88% – 10.24% (11.95% Cap†) |
| Terms | 60 – 240 months |
| Min. Credit Score | 650 |
| Apply | Link |
*Lowest rates always include the 0.25% interest reduction for enrolling in auto-pay; an additional discount may be available to borrowers with advanced degrees.
†The highest variable rate cap is for loans with terms exceeding 15 years. The rate cap for 11- to 15-year loans is 9.95%, while loan terms of 10 years or less are capped at 8.95%.
Skip to: Rates & Fees | Eligibility Requirements | Repayment Options | Consumer Reviews & Complaints | FAQ
| Private student loans | ✓ |
| Private parent loans | ✓ (in parent’s name only) |
| Federal student loans | ✓ |
| Federal Parent PLUS loans | ✓ (in parent’s name only) |
Earnest Refinance Rates & Fees
Earnest Operations LLC offers fixed and variable rates for student loan refinancing. For borrowers with approved advanced and professional degrees who refinance more than $100,000 may qualify for a fixed APR starting at 3.52% and a variable APR starting at 5.73%.
Note that lowest rates always include a 0.25% interest rate reduction for enrollment in automatic payments.
| Term | Fixed Rate | Variable Rate |
|---|---|---|
| 60 – 240 Months | 3.72% – 10.24% | 5.88% – 10.24% |
Additional information about Earnest refinance rates:
- Checking your rate with Earnest will not affect your credit score. They will conduct a soft, not hard, credit inquiry (learn the difference).
- Earnest does offer a discount for setting up auto-pay: 0.25% interest rate reduction.
- Variable rates are based on the 30-day SOFR (3.77% as of this writing) as published by the Federal Reserve Bank of New York on the twenty-fifth day, or the next business day, of the preceding calendar month.
- Variable rates are capped at 11.95% for loans with terms exceeding 15 years. The rate cap for 11- to 15-year loans is 9.95%, while loan terms of 10 years or less are capped at 8.95%.
- Earnest services are unavailable in Nevada and may or may not be available in Kentucky (the company web site makes conflicting statements).
- Variable rates are unavailable in Alaska, Illinois, Minnesota, New Hampshire, Ohio, Tennessee, and Texas.
- Applicants may set their term limit for any period between 5 and 20 years down to the month.
| Year End | Fixed | Variable |
|---|---|---|
| 2025 | 3.72% – 10.24% | 5.88% – 10.24% |
| 2024 | 4.20% – 9.99% | 6.14% – 9.99% |
| 2023 | 5.19% – 9.99% | 5.99% – 9.99% |
| 2022 | 4.39% – 9.24% | 3.99% – 8.54% |
| 2021 | 2.44% – 6.04% | 1.88% – 5.89% |
Additional Fees
Beyond interest rates, there are a number of fees a refinance lender may charge up-front or during the loan servicing period. Below is a list of these fees that Earnest does or does not charge.
| Fee Type | Amount Charged |
|---|---|
| Application Fee | Undisclosed |
| Loan Origination Fee | None |
| Disbursement Fee | Undisclosed |
| Prepayment Penalty | None |
| Late Payment Fee | None |
| Returned Payment Fee | Up to $8 |
| Collection Fee | Undisclosed |
- Application fee – fee to apply for rates & approval.
- Loan origination fee – fee to create the new loan.
- Disbursement fee – fee for distributing funds to lenders to pay off loans that have been refinanced.
- Prepayment penalty – fee for making extra payments to reduce a refinance loan balance or pay it off early.
- Late payment fee – fee for making a late payment.
- Returned payment fee – fee for failed payments due to insufficient funds, also known as a “bounced check”.
- Collection fee – fee for collection activity on a defaulted debt.
Current Promotions & Offers
Earnest offers a 0.25% interest rate reduction with enrollment in automatic payments.
Through Earnest’s referral program, referring and referred borrowers always receive a $200 bonus each for every new referral who refinances their student loans with Earnest.
Earnest Refinance Eligibility Requirements
To qualify for refinancing with Earnest, all borrowers must meet the criteria below.
- Citizenship Requirement: U.S. citizenship or permanent residence.
- Income Requirement: income required, no minimum specified.
- Credit Score Requirement: 650.
- Graduation Requirement: associate’s degree or higher -OR- a completed degree by the end of the current semester -OR- student loans in repayment while enrolled less than half-time. Borrowers with debt from an incomplete degree from a not-for-profit school may be eligible for refinancing if their last date of attendance was over six (6) years prior and their current credit score is 700+.
- Location Requirement: District of Columbia or one of 49 U.S. states (excluding Nevada).
Additional restrictions apply for specific individuals and loans.
- Earnest stipulates that borrowers must be current on rent or mortgage payments.
- Refinancing requires no history of bankruptcy or accounts recently in collection.
- Earnest discloses the following factors for financial approval:
- Enough savings to cover at least two months of normal expenses, including housing.
- Increasing bank account balances.
- No large amounts of non-student, non-mortgage debt (e.g. credit cards, personal loans).
- History of history of making payments on time.
- No history of regular charges for late, overdraft, or insufficient funds fees.
Earnest Student Loan Repayment Options
Lenders vary greatly on the benefits and options provided to borrowers during the loan servicing period. Additionally, benefits may only be available on a case-by-case basis. Earnest offers some relief options.
Deferment & Forbearance
Earnest does have some options for deferring payments. Note that refinance loans in deferment always continue to accrue interest. See Earnest’s conditions for deferment and forbearance below.
| Condition | Coverage |
|---|---|
| Returning to grad school (more than half-time) | Deferment, up to 36 months |
| Disability rehabilitation | Unspecified |
| Active military duty | Undisclosed |
| Involuntary unemployment | Undisclosed |
| Economic hardship | Undisclosed |
| Natural Disaster | Unspecified |
| Temporary Hardship | Undisclosed |
Additional Options
Earnest may offer other opportunities for relief or contract modification.
- Unpaid maternity/paternity leave may be considered a temporary hardship for the purposes of forbearance.
- Borrowers may apply to skip one payment every 12 months [after making a minimum of six (6) months of consecutive, on-time payments].
- Death / disability discharge is available in the unfortunate circumstance that a borrower passes away or suffers total permanent disability.
- Co-signer release is unavailable.
Earnest Reviews, Complaints & Lawsuits
Beyond our own findings, our team also collected the most genuinely insightful customer experiences we could find, including any instances of legal action against the company in which the details became public.
Earnest Online Reviews
Below are 3 samples of Earnest customer reviews we found on public forums, included here for their value as unedited, uncensored, and unsolicited user experiences. Note that these reviews are unverified, may include inaccuracies, and may provide outdated information (about rates, bonus offers, etc.).
“I’ve refinanced with earnest before, they’re legit. rates can be good and you can tweak the repayment term more than most lenders. just know those email rates are usually the best case scenario.” – sarahonjyt71
on reddit.com, 11/14/2025
“About one year ago I refinanced multiple student loans with Earnest and got a consolidated loan at a rate over 35% lower than the average of my prior loans. I’ve made aggressive payments towards the loan monthly, and have been nothing but happy and satisfied with my choice to use the company.
Other than the website, nothing else has changed in my opinion since Navient came along. Earnest maintains its own brand. Customer service is exactly the same – responsive and quick.” – RPG_are_my_initials on reddit, 9/22/2019
“I have Earnest, who cares if their customer service is not as excellent as it used to be? Get the best rate, set auto-pay, forget it. I haven’t had any issue before or after the Navient takeover.” – Dreamgiver on White Coat Investor, 6/14/2019
More (unfiltered) customer reviews of Earnest are available at TrustPilot.com (4.6 out of 5). Earnest also has a profile on ConsumersAdvocate.org (3.5 out of 5).
Earnest Consumer Complaints
As consumer finance companies, student loan refinancing lenders fall under the jurisdiction of the Consumer Financial Protection Bureau (CFPB), a federal agency. As part of its mission, the CFPB allows consumers to log official complaints. These complaints are publicly available on the CFPB official website.
Since August 7, 2015, consumers have submitted 253 complaints about Earnest, Inc. to the CFPB for an average of one (1) complaint every 15 days, which is three (3) times as fast as the average daily complaint rate among reviewed lenders. Among the 148 complaints that include narratives, 42 (28.4%) specifically reference student loan refinancing.
In 2025, consumers filed 50 complaints about Earnest, which is twice the number of complaints it receives in an average year. Earnest received 68 consumer complaints in 2024, equivalent to 180.0% more complaints compared to an average year. During a typical year, Earnest receives one (1) complaint for every $2.439 million in corporate revenue, or one (1) per employee.
The allegations made in these complaints are unverified, are not necessarily representative of all consumers’ experiences with Earnest, and may contain outdated information (about rates, bonus offers, etc.). Note that a lender with a large customer base is likely to have a higher number of complaints when compared with smaller lenders.
Below we’ve included 3 of the most recent complaints (as of this writing) in which the consumer consented to share their details and explicitly refer to refinancing.
Complaint 16879145
10/28/2025
New York
“I refinanced a student loan with Earnest Operations LLC that was previously serviced by XXXX. The payoff check that was sent from Earnest to XXXX never arrived according to information provided by XXXX, and soon I will be forced to pay balances on both loans. Currently, Earnest will not provide information as to receipt of the payment by XXXX or tracking information.”
Complaint 15457278
8/22/2025
Wisconsin
“My private student loans were originally issued by XXXX and later refinanced through Earnest. Despite the refinance, the loans remain tied to the XXXX XXXX XXXX XXXX, which has been the subject of federal lawsuits and misconduct finding lawsuits. Earnest continues to claim that because refinance proceeds were not used directly for my school, they have no responsibility to address the unlawful foundation of the loan. This position ignores the fact that the original loans were created under fraudulent grounds and that refinancing does not erase the misconduct tied to their origin. As of XX/XX/2025, the XXXX XXXX XXXX XXXXXXXXXXXX XXXX XXXX XXXX XXXX ( XXXX ) confirmed they opened a complaint on my behalf regarding this matter. However, my previous CFPB complaint was closed while these issues remain unresolved. Unanswered Questions That Require Review 1. Loan Ownership : How can a refinanced loan remain tied to the XXXX XXXX XXXX XXXX if Earnest claims full servicing responsibility? XXXX. Accountability : Does refinancing legally shield Earnest ( or any servicer ) from accountability when the original loan was tied to federal misconduct findings against XXXX? 3. Consumer Protection : If the original loans were found to be fraudulent, why does their unlawful foundation not transfer into current servicing oversight? XXXX. Transparency : Why have neither Earnest nor XXXX provided clear documentation showing how ownership and legal responsibility are divided post-refinance? Requested Action I am requesting that CFPB : – Review the continued servicing of a loan owned under XXXX XXXX XXXX XXXX despite its fraudulent origin. – Provide clarification regarding Earnests position that refinancing eliminates accountability. – Ensure consumers in similar positions are not left in financial hardship because servicers use conflicting narratives to avoid responsibility. This situation has left me without relief and under financial hardship, despite multiple regulatory complaints and contradictory responses from my servicer. Referenced closed complaint XXXX”
Complaint 15379559
8/19/2025
Michigan
“In XX/XX/year>, I refinanced my student loans with Earnest. During the refinance process, Earnest admitted in writing ( via the CFPB portal AND email from support ) that they made a system error where payoffs were sent to the wrong servicer. They stated they would correct this by re-issuing new payoffs to satisfy the loans I refinanced, placing my loan into administrative forbearance, refunding my first payment, and waiving interest accrued during the delay. While Earnest eventually reissued payoffs, they did not fully satisfy my XXXX loan fully. My XXXX account still shows a remaining balance of {$820.00}, despite Earnests written statement that the loans would be paid in full. This shortfall is not due to missed payments on my part I continued making payments during the waiting period to keep my loans in good standing. At the same time, my XXXX account now reflects a negative balance ( overpayment ), likely caused by those continued payments being applied after Earnests reissued payoff – I know this overage from XXXX will get refunded back to earnest and applied to my total balance, so Im not worried about that end. This situation has left me in an unclear financial position : I am now showing as owing {$820.00} on XXXX, despite refinancing and Earnests assurances. I have a negative balance on XXXX, which I understand will get refunded back to earnest and applied to my total balance. I have not received a direct, clear resolution from Earnest despite repeated contact, and contact request for supervisor call back ( I have requested a supervisor call back at least 5 times- physically asking support to fill out the request form- each time its radio silence ). I previously submitted a complaint but earnest closed it. I am again, requesting CFPB oversight because Earnests error and incomplete payoff breached their written promise to fully satisfy my refinanced loans. I want confirmation that Earnest, not me, is responsible for the {$820.00} balance and that my loans are fully paid off as originally agreed. Finally Earnest stated that interest during and up until forbearance would be waived. However, in my Earnest dashboard, the total amount is going up daily, indicating that interest has not been waived.”
For a full list of complaints made against Earnest in the CFPB’s Consumer Complaint Database, click here.
Earnest Lawsuits
Earnest LLC and its sister company NaviRefi were not implicated in lawsuits against their parent company, Navient Corporation, alleging violations of the Fair Credit Reporting Act and the Fair Debt Collection Practices Act.[1][2][3] Earnest has faced faced legal issues of its own, however. Note that while this information is updated regularly, ongoing legal action is subject to change.
Common Wealth of Massachusetts v. Earnest Operations LLC Civil Action No. 2584-CV-01895
The Office of the Attorney General in Massachusetts sued Earnest Operations, LLC. for violations of the Consumer Protection Act and the Equal Credit Opportunity Act. Among the allegations is that Earnest failed to asses for bias in the algorithm it uses to vet borrowers, which unlawfully discriminated against applicants, “automatically denying loan applications based on immigration status in violation of ECOA.”[4]
While Earnest continues to deny any AI bias , it did reach a settlement in July 2025 that includes a $2.5 million payment and “extensive changes to its business practices.”[5]
Frequently Asked Questions
These are the most common questions consumers have about student loan refinancing with Earnest.
- Is Earnest good for refinancing student loans?
Earnest’s student refinance loans may benefit student borrowers who don’t necessarily have high credit scores but are otherwise in good financial standing.
- Does Earnest have a minimum credit score requirement?
Earnest claims multiple minimum credit scores for refinancing student loans, including different requirements for borrowers without degrees. With a completed degree, 650 is the lowest minimum credit score listed on the company website. Borrowers who did not complete the program they paid for using the student loans to be refinanced must have a credit score of at least 700 to qualify.
- Are Earnest loans federal?
Earnest loans are not federal. Earnest has no affiliation with the federal government or the U.S. Department of Education.
- Does Earnest charge a prepayment penalty?
There are no penalties for early payments or for repaying a loan in full before its term is over.
- Does checking your rates with Earnest hurt your credit score?
For their prequalification process, Earnest performs a soft credit check, which will not hurt your credit score. If you proceed with an application, however, Earnest will perform a hard credit check that may affect your credit score.
- Is Earnest a bank?
Earnest is not a bank nor is it affiliated with any bank. Earnest was founded as a fintech company and now operates as its own brand under the Navient Corporation.
- Can I refinance an Earnest loan?
You can refinance an Earnest student loan or a student loan from another private lender. There is no limit to the number of times a borrower may refinance with Earnest. Note, however, that every new line of credit requires a hard credit check that may affect your FICO score.
- Can I refinance just some of my loans with Earnest?
Yes, you can refinance some, all, or just one of your qualifying student loans with Earnest. You may choose to refinance your private loans only or refinance private and federal loans together.
- Can I refinance loans that have already been refinanced?
Yes, you can refinance loans as many times as you want with Earnest. Note that each time you refinance, you will have to submit a new application; every application requires a hard credit check that may affect your credit score.
- Can my spouse and I refinance our loans together with Earnest?
No, Earnest only refinances loans in the original borrower’s name.
- How long does it take to refinance with Earnest?
Earnest does not disclose an average timeline for refinancing.
- Who services Earnest refinance loans?
Earnest does not sell its loans to other financial institutions or servicers.
- Does Earnest offer a grace period?
While Earnest does not offer a grace period, they may honor an existing grace period for up to nine (9) months; borrowers should submit a Grade Period Match Request Form (available on the Earnest website).
- How often do variable rates change?
Earnest’s variable rates change no more than once per month based on the 30-day SOFR as published by the Federal Reserve Bank of New York on the 25th day, or the next business day, of the preceding calendar month.
- Can I get any special rates or discounts with Earnest?
Earnest offers a standard 0.25% rate reduction to borrowers who set up auto-pay.
- What happens if I file for bankruptcy?
If you file for bankruptcy, you may still be required to repay your Earnest student refinance loan.
- Does Earnest partner with any major student refinance lender marketplaces?
Earnest partners with Purefy as part of its multilender marketplace. Sparrow also lists Earnest as featured lenders.
Compare Student Loan Refinance Reviews
| Lender | Rating |
|---|---|
| RISLA | A |
| Brazos | A- |
| ELFI | A- |
| Credible | A- |
| Advantage | B+ |
| Laurel Road | B+ |
| Splash Financial | B |
| LendKey | B |
| Panacea Financial | B |
| UW Credit Union | B |
| Purefy | B |
| SoFi | B- |
| INvestEd | B- |
| Mpower Financing | B- |
| Earnest | C+ |
| Yrefy | C+ |
| EDvestinU | C+ |
| SC Student Loan | C+ |
| Sparrow | C+ |
| Citizens Bank | C |
| College Ave | C |
| ISL | C |
| MEFA | C |
| SuperMoney | C |
| SELF Refi | C |
| CU Student Choice | C |
| iHelp | C |
| Navy Federal | C |
| BECU | C |
| First Tech Federal | C |
| PA Forward | C- |
| Nelnet Bank | C- |
| NaviRefi | D- |
Sources
- Consumer Financial Protection Bureau, CFPB Sues Nation’s Largest Student Loan Company Navient for Failing Borrowers at Every Stage of Repayment
- Legal Services Center of Harvard Law School Project on Predatory Student Lending, VILLALBA V. NAVIENT
- NavientClassAction.com, Navient Class Action Information
- Mass.gov, Commonwealth of Massachusetts: Superior Court Civil Action No. 2584-CV-01895
- Consumer Finance Monitor, Massachusetts AG reaches settlement with student loan company, Earnest Operations LLC
- Earnest, Eligibility Guide
- Earnest, Earnest Operations LLC Refinance Education Loan Variable Rate Application & Solicitation Disclosure
- CFPB, Consumer Complaint Database
- Dun & Bradstreet, Business Directory: Earnest LLC
- Better Business Bureau, Search Businesses and Charities