Earnest Named One of the World’s Top FinTech Companies by CNBC
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We’re excited to announce that CNBC has named Earnest one of the Top Fintech Companies in the World. This award recognizes our transparent approach to student lending to help borrowers make decisions with confidence rather than fear.
The financial professionals at CNBC felt, “The World’s Top FinTech Companies 2024 title reinforces Earnest’s reputation as a company that has a positive financial and innovative impact on a national level.”
A fresh approach to financial wellness
Earnest takes a supportive and empathetic approach. We aim to give you simple explanations and put people ahead of our business goals.
We believe a private student loan¹ should be a last resort, and encourage students and their families to exhaust all other options like scholarships, grants, and FAFSA first. Don’t know where to start? Our Going Merry by Earnest team matches students with thousands of scholarships to help them maximize free sources of funding.
Our customers seem to agree, giving us 4.7/5 stars on Trustpilot (one of the highest ratings for a student lender).
Transparency and trust
With hidden fees and confusing terms, it’s no wonder that 35% of college grads feel ashamed that they signed up for student loans without fully understanding them. We tell you exactly what you need to know about your loan in a language you can understand. When you apply with us, we’ll show you exactly what your repayment will look like – from the monthly payment to the total interest and the final loan amount.
Some of the most flexible repayment options
We understand that life is unpredictable, and your financial situation may change. That’s why we offer personalized repayment plans for your unique needs. When completing your application, you can try out different payment, rate, and term combinations to see which works best for you. If you run into financial trouble, you can skip one payment a year without penalties using the Skip a Payment² feature.
Not your standard customer service team
Your personal finances are too important for subpar customer service. We answer calls in less than 2 minutes, and our support team earns over 94% positive ratings from customers. Our Client Happiness team can guide you through the application process from start to finish. They can help you apply over the phone, and if you run into any serious issues–like needing a break from payments due to job loss–they’ll work with you.
Tools to help you become financially independent
Our free Student Loan Manager³ matches federal student loan holders with income-driven repayment plans and helps them find their servicer. We also offer calculators – like our refinancing calculator or student loan repayment calculator – to help you make the right choice when borrowing money.
This is just the beginning
When it comes to Fintech, we’ve earned our place among the top companies in the industry, but we’re just getting started. We’re dedicated to helping students and grads take control of their finances. Our team is working hard to build new tools that help people on their journey to financial independence, from college and beyond.
About the Author
Jenny Twomey
Jenny Twomey is the community communications lead at Earnest. During her 9 years with Earnest she has also worked in client happiness and scholarship program management. Her finance career began in personal banking in 2008, where she recognized the widespread need for financial literacy education. As a Colombian immigrant who faced challenges navigating higher education in the US, Jenny is passionate about empowering others to achieve financial independence through knowledge and resources.
Disclaimer
This blog post provides personal finance educational information, and it is not intended to provide legal, financial, or tax advice.
1 Before applying for private student loans, it’s best to maximize your other sources of financial aid first. It’s recommended to use a 3-step approach to assembling the funds you need: 1) Look for funds you don’t have to pay back, like scholarships, grants, and work-study opportunities. 2) Next, fill out a FAFSA(R) form to apply for federal student loans. Federal Direct subsidized and unsubsidized loans, excluding PLUS Loan for Parents and PLUS Loan for Graduate and Professional Students which require a credit check and a credit worthy endorser if the parent or graduate or professional student has adverse credit, do not require a credit check or cosigner, and offer various protections if you're struggling with your payments. 3) Finally, consider a private student loan to cover any difference between your total cost of attendance and the amount not covered in steps 1 and 2. For more information, visit the Department of Education website at https://studentaid.gov/.
2 Earnest clients may skip a payment through a one, one-month forbearance during a 12 month period. Your first request to skip a pay can be made once you’ve made at least 6 months of consecutive on-time full principal and interest payments, and your loan is in good standing. The interest accrued during the skipped month will result in an increase in your remaining minimum payment. The final payoff date on your loan will be extended by the length of the skipped payment periods. Any unpaid accrued interest may capitalize (added to the principal balance) at the end of the forbearance period by adding unpaid accrued interest to the outstanding principal as permitted by law and the terms of the loan agreement.
3 Student Loan Manager is powered by Payitoff. Please visit https://www.payitoff.io/ for full terms and conditions.