Savings Disclaimer

Explanation of $30,939 Average Client Savings

Average savings calculation is based on all Earnest clients who refinanced student loans owned and serviced by Navient between 03/06/2017 and 03/31/2018. The savings figure of a particular client is calculated by subtracting the projected lifetime cost of their Earnest refinancing from the projected total cost of their original student loans.

Here’s what our math includes:

  • For the original student loans, the projected lifetime costs are calculated using the weighted average term of the original loans and the weighted average interest rate in effect in the month prior to the refinance event, including borrower benefits (e.g. automatic payment discounts).
  • For the Earnest student loan refinance, projected lifetime costs are calculated using the selected Earnest term and interest rate, also including borrower benefits.
  • Projected lifetime costs assume a principal balance of $75,000.

In order to calculate our average client savings, we excluded:

  • Savings from any client that selected an Earnest loan with a longer term than their Navient student loan terms.
  • Loans resulting from a client refinancing the same Earnest loan with Earnest.

Average client savings amount is not predictive or indicative of your individual cost savings. For example, your individual savings may differ based on your loan term and rate type selections, if you change your repayment options, or if you pay off your student loans early.