Our values were built into the core of Earnest on day one. These values guide our ship, keeping us constantly aligned with what really matters: our clients.
Earn Happy Clients
Client happiness is our true north, and we use both data and empathy to understand our clients’ needs better. Striving daily to provide superior products and unrivaled service, we operate with utmost integrity to earn client trust and nurture enduring relationships.
Challenge Yourself, Question Others
We relentlessly push ourselves to surpass expectations. And by seeking ideas from diverse perspectives and debating them rigorously yet respectfully, we arrive at better insights and decisions.
Make It Happen
We work tirelessly to deliver high-impact results at a rapid pace. Initiative, scrappiness, and grit help us take ownership of problems, craft thoughtful solutions, and make the impossible possible.
Through continuous experimentation, we are steadily learning and improving. Our culture of curiosity and risk-taking—as well as rigorous data analysis—encourages bold steps forward.
Build for Decades, Not Dollars
To create lifelong value for our clients, we must practice the same financial responsibility we expect out of them. Doing more with less may mean sacrificing short-term gains—but we remain steadfastly focused on our long-term vision.
The average savings calculation is the sum of all projected savings divided by the number of clients included in the projected savings calculation. These calculations assume that clients’ interest rates will not change over time, that clients make all payments on-time, and that no loans will be prepaid.
Here’s what our math includes:
Projected savings for clients who provided outstanding balance, APR, and current monthly payment amount for their existing student loan(s)
Both fixed and variable rate loans
And here’s what our math excludes, and why:
Savings from any client who stated that the current interest rate on their loan was greater than 12%. (Why: this is intended to filter out any cases where client error may skew the savings calculation higher.)
For any client who stated that the projected term of their loan was greater than 25 years, we do not include in our calculation any additional savings that might be realized if their existing loan were to take longer than 25 years to pay off in-full. (Why: 25 years is the maximum term allowed for a Federal student loan, or the cap on any Federal student loan under Income Based Repayment.)
Savings from any client whose indicated monthly payment was not sufficient to pay down the loan balance over time. (Why: this is intended to filter out any cases where the client misstated either their monthly payment amount, interest rate, or both.)
All refinancings by clients who chose a longer term than their existing student loan. (Why: some clients choose longer loan terms to match their monthly loan obligations to their unique life circumstances; while we encourage clients to take advantage of Earnest’s flexible term and monthly payment features, these cases are not indicative of the savings that result from lower rates through better data.)
Explanation of Rates “With Autopay”
Rates shown include 0.25% APR reduction where 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 time to participate.