When you refinance student loans, you get credit for the positive changes to your financial profile since you originally took out the loans. A student loan refinance is a good choice for people who have seen advances in their income, career, or credit score since they were in school.
Our data-driven evaluation of your full financial profile gives us the ability to offer qualified borrowers lower, more personalized rates than traditional lenders can. So whether you want to pay off your student faster or just reduce your student loan payments, we can help.
Refinancing vs. Consolidation
Student loan consolidation is the process of unifying several loans with different rates and terms into a single loan with a single payment. The blended interest rate is determined by calculating the weighted average interest rate of the original loans (meaning higher balance loans have greater impact). Consolidating student loans does not affect the amount of interest you pay—it just simplifies your payments.
Refinancing student loans, on the other hand, is a step beyond consolidation. When you refinance multiple loans, the lender will evaluate your current financial profile to provide a rate that reflects your financial progress since you originally took out the loans. Whereas consolidation just streamlines bills, refinancing also shrinks them. Read more about refinancing vs. consolidation on our blog.
Earnest Student Loan Refinancing Reviews
See what our clients have to say
4.82/5 ( 208 reviews )
Best loan transfer ever
Honestly the most best experience ever for a refinance of a federal parent plus loan in my time. I've done 3 of them so I have all kinds of personal experience and i wouldn't recommend you going anywhere else but EARNEST!!!!!! THAT'S THE TRUTH...Hands down.
Lesa S. - Mechanicsburg, PA
Harrisburg Area Community College-Harrisburg, Associates
Saved me a lot of money
Application process was straightforward and quick. Had a little trouble submitting the correct tax documents but it was well worth the effort as Earnest saved me many thousands of dollars over my previous student loan.
George K. - Evergreen, CO
Whittier College, JD
Extremely easy and efficient
I have been trying to refinance my student loans for a few months now, finding it quite difficult because of the approval process. With Earnest, it took all but a few minutes and I was approved. The customer service is probably the most friendly customer service I have ever dealt with. I would definitely give this company a shot if I was looking to refinance student loans.
Reviews solicited from random sample of Earnest clients since July 2017. All responses are published here in full. No compensation was provided in exchange for reviews.
Credit is complicated—learn the basics here
We’ve put together a library of essential resources (like how-to guides, comparisons, and calculators) to help you make better choices when it comes to refinancing student loans. And keep an eye out—we’re always adding more.
Get one simple payment that fits your budget. Variable rates start at 2.54% APR with autopay.
Explanation of Rates “With Autopay”
Rates shown include 0.25% APR reduction when client agrees to make monthly principal and interest payments by automatic electronic payment. Use of autopay is not required to receive an Earnest loan.
Explanation of Precision Pricing™ Savings
Savings calculations are based on refinancing $121,825 in student loans at an existing loan servicer’s interest rate of 7.5% fixed APR with 10 years, 6 months remaining on the loan term. The other lender’s savings and APR (light green line) represent what would happen if those loans were refinanced at the other lender’s best fixed APRs. The Earnest savings and APR (white line) represent refinancing those loans at Earnest’s best fixed APRs.
Savings is computed as the difference between the future scheduled payments on the existing loans and payments on new Earnest and “other lender” loans. The calculation assumes on-time loan payments, no change in interest rates, and no prepayment of loans.
Individuals portrayed as Earnest clients on this site are actual clients and were compensated for their participation.