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Historic savings on Penn student loans

The only thing better than getting an Ivy League education from Penn—while enjoying life in scenic Philadelphia—is saving money in the process. At Earnest, we provide affordable student loans for Quaker students and grads. Please note, the University of Pennsylvania is not affiliated with Earnest and does not endorse Earnest's loans.


Breeding excellence in the city of brotherly love

Icons of business and science fostered in Philadelphia

Founded by Benjamin Franklin, the University of Pennsylvania holds a claim to being America’s first university, as well as founding the first medical school (Perelman School of Medicine), business school (Wharton School of Business), and student union (Houston Hall). UPenn’s lauded One University Policy promotes interdisciplinary studies, and is a main draw for many students.

Penn has created prosperous futures for Quakers longer than most colleges have existed, having produced more billionaires than any other university (with notable alumni including Warren Buffett, Elon Musk, Tory Burch). Additionally, the university is the site of many scientific and technological discoveries, including the development of the ENIAC computer.


Save Benjamins on your Penn education

Earnest student loans and refinancing solutions

Penn Alumni
Earnest provides a simple, straightforward consolidation and refinancing experience for Penn grads. We help you get the best rates for your financial profile, while letting you customize your payments based on your preferred budget and timeline. Our intuitive online dashboard and expert in-house support are pretty popular too.

Penn Students
Penn strives to make its Ivy League education affordable for everyone. Families with income under $40,000 receive free tuition and room and board, and those with an income under $75,000 receive free tuition and housing. We encourage you to contact the University of Pennsylvania Student Financial Services Office to learn more about Penn scholarships, grants, jobs, and other ways to ensure you build lasting friendships and memories—not student debt.


Have questions about refinancing Penn student loans?

Make informed decisions to save money

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 Penn students

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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.