Wondering whether you’re eligible for an Earnest loan? You’ve come to the right place. Each of our loan products has its own eligibility requirements, so choose a loan type to see what we look for. Please note that while certain criteria determine only your eligibility, other factors are considered strong predictors of approval.

Student Loan Refinancing

Eligibility Criteria

Personal

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

Your current enrollment status is less than half-time and your student loans are in repayment, or your degree will be complete at the end of this semester.

You currently reside in the District of Columbia or one of the 47 states we lend in (all but Delaware, Kentucky, and Nevada). *Please note, we are not able to offer variable rate loans in AK, IL, MN, NH, OH, TN, and TX.

You are at least 18 years old.

Loan

You are currently the primary borrower on the student loans you would like to refinance.

You are not requesting new loans for future schooling.

The debt is from paying for a Title IV-accredited school.

The debt is from your own education.

The debt you’re refinancing is from one or more completed degrees or a degree that will be completed by the end of this semester.

You are requesting to refinance at least $5000 in student loans.

You are not requesting to refinance an existing Earnest loan without at least 6 months of on-time payments.

The debt must be held at an institution within the U.S.

Financial

You have a minimum credit score of 650.

You are employed, have a written job offer for a position that starts within 6 months, or possess consistent income (in USD).

Your student loan accounts are all in good standing.

You are current on your rent or mortgage payments.

You do not have a bankruptcy on your credit report or accounts recently in collection.

Factors for Approval

  • You have enough savings to cover at least two months of normal expenses, including housing.

  • You spend less than you earn and have increasing bank account balances.

  • You do not carry large amounts of non-student, non-mortgage debt (e.g. credit cards, personal loans).

  • You have a history of making payments on time.

  • You are not regularly charged late, overdraft, or insufficient funds fees.

Parent PLUS Refinancing

Eligibility Criteria

Personal

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

You are the primary borrower on the student loans you would like to refinance (please note: you will remain the primary borrower after refinancing).

You currently reside in the District of Columbia or one of the 47 states we lend in (all but Delaware, Kentucky, and Nevada). *Please note, we are not able to offer variable rate loans in AK, IL, MN, NH, OH, TN, and TX.

You are at least 18 years old.

Loan

The debt is from your eligible dependent’s education.

The debt is from paying for a Title IV-accredited school.

You are not requesting new loans for future schooling.

The debt you’re refinancing is from one or more completed degrees or a degree that will be completed by the end of this semester.

You are requesting to refinance at least $5000 in student loans.

You are not requesting to refinance an existing Earnest loan without at least 6 months of on-time payments.

The debt must be held at an institution within the U.S.

Financial

You have a minimum credit score of 650.

You are employed, have a written job offer for a position that starts within 6 months, or possess consistent income (in USD).

All student loans are all in good standing.

You are current on your rent or mortgage payments.

You do not have a bankruptcy on your credit report or accounts recently in collections.

Factors for Approval

  • You have enough savings to cover at least two months of normal expenses, including housing.

  • You spend less than you earn and have increasing bank account balances.

  • You do not carry large amounts of non-student, non-mortgage debt (e.g. credit cards, personal loans).

  • You have a history of making payments on time.

  • You are not regularly charged late, overdraft, or insufficient funds fees.

Personal Loan

Eligibility Criteria

Personal

You have proof of consistent income (in USD).

You have one of the following residency statuses:

  • You are a United States Citizen
  • You are a long-term permanent resident alien (10-year green card)
  • You are a conditional permanent resident alien (2-year green card) with an acceptance or approval of Form I-751 “Petition to Remove Condition on Residence”

You are at least 18 years old.

You currently reside in the District of Columbia or one of the 45 states we lend in (all but Alabama, Delaware, Kentucky, Nevada, and Rhode Island).

Financial

You have a credit score of at least 680.

You have not declared bankruptcy within the last 3 years.

You have a history of on-time payments as the primary borrower on any revolving or installment account that is reported to a credit bureau (e.g. student loans, personal loans, car loans/leases, mortgages, credit cards or charge cards).

You do not have any open collections accounts.

Eligible Loan Purposes:

Credit Card Consolidation/Refinancing: to reduce your interest rate or have a single payment.

Home Improvement: to pay for any form of home improvement (furniture/appliances, roofing, tiling, plumbing, gardening, etc.)

Wedding/Honeymoon: to pay for wedding/honeymoon costs.

Unaccredited Education Programs: to pay for tuition from an unaccredited institution (i.e bootcamps, culinary schools, midwifery school, etc.)

Security Deposit: to pay for the deposit on a rented apartment/house.

Ineligible Loan Purposes:

Tuition: to pay for tuition or other qualifying expenses at an accredited (Title IV) institution.

Business Capital: to start your own business or pay expenses for your existing business.

Real Estate: to purchase or invest in developed real estate or to change the ownership of an existing mortgage.

Factors for Approval

  • You have enough savings to cover at least two months of normal expenses, including housing.

  • You spend less than you earn and have increasing bank account balances.

  • You do not carry large amounts of non-student, non-mortgage debt (e.g. credit cards, personal loans).

  • You have a history of making payments on time.

  • You are not regularly charged late, overdraft, or insufficient funds fees.

Cosigned Student Loan

Eligibility Criteria

Personal

Both primary and cosigner must live in the District of Columbia or a state that we lend in (all but AK, CT, HI, IL, NH, NV, TX, VA) but they do not need to both live in the same state.

Both primary and cosigner must be the age of majority as defined by their state of residence.

Cosigner is a U.S. Citizen or Permanent Resident (primary is not required to be a U.S. Citizen or Permanent Resident but is required to have a SSN).

Loan

Student is enrolled in school full-time.

Student is pursuing a Bachelor’s or Graduate degree.

School is a Title IV-qualified, not-for-profit, 4-year institution.

Minimum loan amount of $1000 unless specified by state of residence.

Past-due balances up to 365 days prior

Financial

Cosigner has minimum FICO score of 650 (primary is not required to have minimum FICO score).

Cosigner has at least 3 years of credit history.

Cosigner has minimum income of $35,000 per year (in USD).

Cosigner and primary do not have a bankruptcy on their credit reports.

Cosigner and primary have a history of on-time payments as the primary borrower on any revolving or installment account that is reported to a credit bureau (e.g. student loans, personal loans, car loans/leases, mortgages, credit cards or charge cards).

Cosigner and primary do not have any accounts currently in collection.

Factors for Approval

  • You have enough savings to cover at least two months of normal expenses, including housing.

  • You spend less than you earn and have increasing bank account balances.

  • You do not carry large amounts of non-student, non-mortgage debt (e.g. credit cards, personal loans).

  • You have a history of making payments on time.

  • You are not regularly charged late, overdraft, or insufficient funds fees.

Independent Student Loan

Eligibility Criteria

Personal

You live in the District of Columbia or a state that we lend in (all but AK, CT, HI, IL, NH, NV, TX, VA).

You are the age of majority as defined by your state of residence.

You are a U.S. Citizen or Permanent Resident.

Loan

You are enrolled in school full-time.

You are pursuing a Bachelor’s or Graduate degree.

Your school is a Title IV-qualified, not-for-profit, 4-year institution.

Minimum loan amount of $1000 unless specified by state of residence.

Past-due balances up to 365 days prior

Financial

You have a minimum FICO score of 650.

You have at least 3 years of credit history.

You have an income of at least $35,000 per year (in USD).

You have no bankruptcy on your credit report.

You have a history of on-time payments as the primary borrower on any revolving or installment account that is reported to a credit bureau (e.g. student loans, personal loans, car loans/leases, mortgages, credit cards or charge cards).

You have no accounts currently in collection.

Factors for Approval

  • You have enough savings to cover at least two months of normal expenses, including housing.

  • You spend less than you earn and have increasing bank account balances.

  • You do not carry large amounts of non-student, non-mortgage debt (e.g. credit cards, personal loans).

  • You have a history of making payments on time.

  • You are not regularly charged late, overdraft, or insufficient funds fees.

Explore Earnest products

Personal Loans

Personal Loans

Low-cost loans for qualified borrowers up to $75,000. Fixed rates from 5.99% APR.

Student Loan Refinancing

Student Loan Refinancing

Get one simple payment that fits your budget. Variable rates start at 1.99% APR with autopay.

Private Student Loans

Private Student Loans

Apply on your phone, get set for next semester. Variable rates start at 2.79% APR with autopay.