Alert Message

Unsure if you’re eligible for an Earnest loan? There are two parts to eligibility: guidelines and requirements. Guidelines are favorable—but not necessary—indicators of financial responsibility. Requirements, which vary according to the type of loan, must be met. Be sure to review both.

Guidelines

At Earnest, we assess your comprehensive financial history to evaluate your application as fairly as possible. The guidelines below are not strict rules or requirements. Deficiencies in one area can be offset by strengths in others, but generally the more traits you (or a cosigner) possess, the better.

HOW DO WE DECIDE? OUR CLIENTS TYPICALLY...

  • You are employed or have a written job offer

  • Have enough savings to cover a month or more of normal expenses

  • Spend less than they earn and have increasing bank account balances

  • Do not carry large amounts of non-student, non-mortgage debt

  • Have a history of making payments on time

  • Are not regularly charged late, overdraft, or insufficient funds fees

  • Do not have recent bankruptcies or accounts in collections

Student Loan Refinance Requirements

You are at least 18 years old.

You are a U.S. citizen or possess a 10-year (non-conditional) Permanent Resident Card.

Your debt is from paying for a Title IV accredited school.

The debt is from your education or your child’s.

The debt you’re refinancing is for a completed degree or one that will be completed at the end of this semester.

You are employed, have a written job offer, or possess consistent income that can comfortably support the loan.

You are currently the primary borrower on the student loans you would like to refinance, and you will remain the primary borrower after refinancing.

You are not requesting new loans for future schooling.

You currently reside in one of these states: AK, AR, AZ, CA, CO, CT, FL, GA, HI, ID, IL*, IN, KS, MA, MD, ME, MI*, MN*, MO, MT, NC, ND, NE, NH, NJ, NM, NY, OH*, OK, OR*, PA, SC, TN*, TX, UT, VA, VT, WA, Washington D.C., WI, WV, and WY.
* Please note, we are not able to offer variable rate loans in IL, MI, MN, OH, OR, and TN.

Parent Student Loan Refinance Requirements

You are at least 18 years old.

You are a U.S. citizen or possess a 10-year (non-conditional) Permanent Resident Card.

Your debt is from paying for a Title IV accredited school.

The debt is from your education or your child’s.

The debt you’re refinancing is for a completed degree or one that will be completed at the end of this semester.

You are employed, have a written job offer, or possess consistent income that can comfortably support the loan.

You are currently the primary borrower on the student loans you would like to refinance, and you will remain the primary borrower after refinancing.

You are not requesting new loans for future schooling.

You currently reside in one of these states: AK, AR, AZ, CA, CO, CT, FL, GA, HI, ID, IL*, IN, KS, MA, MD, ME, MI*, MN*, MO, MT, NC, ND, NE, NH, NJ, NM, NY, OH*, OK, OR*, PA, SC, TN*, TX, UT, VA, VT, WA, Washington D.C., WI, WV, and WY.
* Please note, we are not able to offer variable rate loans in IL, MI, MN, OH, OR, and TN.

Personal Loan Requirements

You meet one of the following requirements:

  • You are a United States citizen.
  • You are a permanent resident alien.
  • You have one of these Visa types: TN, E, O, H1B.
  • You have an F1 Visa and a 17 or 24 Month STEM OPT/EAD

You are at least 18 years old.

You reside in a state in which we lend: AK, AR, AZ, CA, CO, CT, FL, GA, HI, ID, IL, IN, KS, MA, MD, ME, MI, MN, MO, MT, NC, ND, NE, NH, NJ, NM, NY, OH, OK, OR, PA, SC, TN, TX, UT, VA, VT, WA, Washington D.C., WI, WV, and WY.