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Earnest engineers savings on MIT student loans

Take one look at the architectural utopia that is MIT’s campus and you’ll know this is the home of Engineers. However, living in Cambridge and attending MIT isn’t cheap. Earnest helps MIT students and grads finance their education with smart, affordable student loans. Please note, Massachusetts Institute of Technology is not affiliated with Earnest and does not endorse Earnest's loans.


Engineering a brighter future

Building an unforgettable college experience

From the first time you don your cardinal red and steel grey to the day you receive your Brass Rat, you’re sure to collect unforgettable memories at this university on the Charles River. Although highly-regarded for academics, MIT students are also renowned for their sense of humor and infamous pranks—referred to as Hacks.

In addition to the popular Sloan School of Management MBA and the Harvard/MIT MD-PhD Program—MIT also offers an official ‘Pirate Certificate.’ MIT is also at the forefront of the arts, with the MIT Media Lab and MIT List Visual Arts Center having international prominence.


Hacking student debt

Earnest student loans and student loan refinancing

MIT Alumni
Earnest simplifies student loan debt for MIT grads by providing a seamless consolidation and refinancing experience. You are offered competitive rates based on your unique financial profile, plus the ability to customize your payments to fit your preferred budget and timeline. Wherever your MIT degree leads you—Earnest wants to save you money along the way.

MIT Students
MIT makes their education accessible to all qualified candidates regardless of their financial circumstancesㅡfor students with a family income under $75,000, the Institute ensures that scholarship funding from all sources will allow them to attend MIT tuition-free. We encourage you to contact MIT Student Financial Aid Services to learn more about MIT scholarships, grants, jobs, and other ways to ensure you leave Cambridge with an exceptional education and lasting friendships—not student debt.


Behind the scenes of MIT student loan refinancing

Get the facts before making any decisions

How should I choose a student loan refinancing provider?

When comparing loans, take into account the rates you’re offered, as well as factors like flexibility and customer service from the loan provider. Many companies will outsource your loan servicing.

Which type of loans can I refinance?

You can refinance both Federal and private student loans with Earnest. You’ll effectively consolidate all your loans into one new, lower rate Earnest loan.

What are the benefits of refinancing my student loan(s)?

Many people are able to refinance into much lower interest rates, saving them thousands, if not tens of thousands, of dollars. In addition, Earnest offers in-house support for the life of your loan and a seamless technology platform to manage your loan.

Can I refinance loans that have previously been consolidated or refinanced?

Yes. Previous refinancing or consolidation does not affect the eligibility of your application.

Who should consider refinancing with Earnest?

Refinancing is a great solution for employed or soon-to-be-employed graduates who have high-interest, unsubsidized Direct Loans, Graduate PLUS loans, and/or private loans.

What is the difference between consolidation and refinancing?

Consolidation simply combines multiple student loans into one. That means one monthly payment instead of having to juggle many different ones, sometimes with multiple servicers. When you consolidate, your interest rate will be a weighted average of the interest rates on the loans you combine. You won’t save money— but it can make life easier by reducing the amount of time you spend managing different payments.

Refinancing can be done with one loan or several, and involves getting a new loan with a different (usually lower) rate than before, due to changes in your financial situation. When you refinance, you typically work with a company to pay off the original loan(s) and get a new unified loan at a lower rate.

Recommended reading for MIT students

Stay ahead of the curve with these resources

People around a computer

Refinancing is easier with Earnest

Rather than looking at student loans as a ball and chain, we see them as a balloon—lifting students to new heights, and enabling incredible opportunities and achievements. Through innovative data science we make that balloon as light as possible, saving clients thousands on every loan. And with exceptional service, we ensure our clients make decisions with confidence. At Earnest, we seek to offer a student loan like no other.