Alert Message

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 enrollment status is currently less than half-time or your degree will be complete at the end of this semester.

You currently reside in the District of Columbia or one of the 44 states we lend in (we do not lend in Alabama, Delaware, Kentucky, Mississippi, Nevada, or Rhode Island).
*Please note, we are not able to offer variable rate loans in IL, MN, NH, OK, TN, TX, UT and WY.

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.

Financial

You have a minimum credit score of 660.

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

Your student loan accounts are all in good standing.

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 44 states we lend in (we do not lend in Alabama, Delaware, Kentucky, Mississippi, Nevada, or Rhode Island). *Please note, we are not able to offer variable rate loans in IL, MN, NH, OK, TN, TX, UT and WY.

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.

Financial

You have a minimum credit score of 660.

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

All student loans are all in good standing.

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

You have a credit score of at least 660.

You have proof of consistent income.

You have one of the following residency statuses:

  • You are a United States citizen
  • You are a permanent resident alien
  • You have one of these Visa types: TN, E, O
  • You have an H1B or F1 Visa with a 1-7 or 24-month STEM OPT/EAD and your current visa is valid through the life of the loan.

You are at least 18 years old.

You currently reside in the District of Columbia or one of the 44 states we lend in (we do not lend in Alabama, Delaware, Kentucky, Mississippi, Nevada, or Rhode Island).

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:

College 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.