Alert Message

Wolverines savor Michigan student loan savings

Michigan’s oldest university and a Public Ivy, U-M combines top-tier education and dominant athletics to offer an unforgettable college experience in the charming city of Ann Arbor. Earnest helps Michigan students and grads finance their education with smart, affordable student loans. Please note, the University of Michigan, Ann Arbor is not affiliated with Earnest and does not endorse Earnest's loans.


Thriving careers from the gridiron to the OR start in Ann Arbor

UM offers a vast selection of top-tier graduate programs

The University of Michigan has world-renowned academics, with multiple degree programs that consistently rank at the top of their fields. Some of Michigan’s most renowned degrees include an MBA from Ross School of Business, a JD from Michigan Law, an MD from the U-M Medical School, a PharmD from U-M College of Pharmacy, and a DDS from the highly-regarded U-M School of Dentistry.

Ann Arbor is the ideal college town—live music, outdoor recreation around the Huron River, the striking architecture of Central and North Campus, a dynamic food scene, and vibrant nightlife. However, on Saturdays everyone heads to The Big House (Michigan Stadium) to cheer on the Wolverines against Big Ten rivals. UMich has accumulated 36 NCAA team titles, and boasts the most successful NCAA football team in history.


Go Blue and save green

Earnest student loans and student loan refinancing

University of Michigan Alumni
UMich grads with student loan debt rely on Earnest for a seamless consolidation and refinancing experience. You receive competitive rate offers based on your personal financial profile and you can customize your payments to work with your desired budget and timeline. Wherever your Michigan education leads you—Earnest wants to save you money along the way.

University of Michigan Students
Michigan is committed to maximizing the value and minimizing the investment required for a first-class education. In fact, 100% of applicants with financial need receive some form of aid and the average award is $21,422. We encourage you to contact the University of Michigan Office of Financial Aid to learn more about UMich scholarships, grants, jobs, and other ways to ensure you leave Ann Arbor with a lifetime of wisdom and memories—not student debt.


Behind the scenes of Michigan 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 UMich 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.