Earnest Private Student Loan Disclaimers
Earnest Private Student Loans are subject to credit approval.
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® form to apply for federal student loans options. 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 studentaid.gov.
Jump to:
You can take advantage of the Auto Pay interest rate reduction by setting up and maintaining active and automatic ACH withdrawal of your loan payment from a checking or savings account. The interest rate reduction for Auto Pay will be available only while your loan is enrolled in Auto Pay. Interest rate incentives for utilizing Auto Pay may not be combined with certain private student loan repayment programs that also offer an interest rate reduction. It is important to note that the 0.25% Auto Pay discount is not available when loan payments are deferred during the interim period as a result of selecting the deferred repayment option.
To qualify for automatic cosigner release, the outstanding principal balance of your loan must be paid down to 50% or less of the original principal balance. The primary borrower must have made 36 months of required payments after the end of the Interim Period. The primary borrower must meet our eligibility and minimum credit requirements. Additional terms and conditions may apply.
To request cosigner release, the primary borrower must have made 12 consecutive, monthly on-time principal and interest payments (or an amount equal thereto) immediately preceding the cosigner release application. The primary borrower must satisfy certain eligibility and credit criteria at the time of application. Additional terms and conditions may apply.
Deferment options are not available for borrowers who choose our Principal and Interest Repayment plan.
Nine-month grace period is not available for borrowers who choose our Principal and Interest Repayment plan while in school.
Actual rate and available repayment terms will vary based on your financial profile. Our lowest rates are only available for the most credit qualified existing cosigned loan borrowers who receive the 0.25% Loyalty discount and requires selection of our shortest term offered, full principal and interest payment while in school, and enrollment in our 0.25% Auto Pay discount. Enrolling in Auto Pay is not required as a condition for approval. Interest rates are subject to change.
Loan Cost Examples for Choice of Loan Terms
Available interest rates are subject to change. Interest rates are as of 9/4/2026 and without Auto Pay. Loan cost examples are based on a $10,000 loan with a 15-year/180-month term. For a variable rate loan, after your starting rate is set, your rate will then vary with the market. The variable interest rate is derived from the 30-day average SOFR index rate plus a margin. Changes in the 30-day average SOFR index rate may cause your monthly payment to increase or decrease. Earnest does not charge fees for origination, late payments, returned check, or prepayments.
For Interest-Only, Fixed $25, and Deferred payments, your actual repayment terms may vary. For Interest-Only, Fixed $25 and Deferred Payments, the calculations below assume that the “in-school” period is 4 years (48 months) and includes our 9-month grace period (for a total of 57 months).
Principal and Interest Payments: These examples provide estimates based on principal and interest payments beginning immediately upon loan disbursement. A 17.10% annual percentage rate ("APR") variable interest rate loan would have 15 years/180 monthly payments of $154.61 and would result in a total estimated payment amount of $27,829.80. A 16.74% APR fixed interest rate loan would have 15 years/180 monthly payments of $152.07 and would result in a total estimated payment amount of $27,372.60.
Interest-Only Payments: These examples provide estimates based on interest-only payments while in school and the 9-month grace period. A 17.10% APR variable interest rate loan would have 15 years/180 monthly payments of $154.61 and would result in a total estimated payment amount of $35,952.30. During in-school and grace periods, the monthly interest-only payment will be $142.50. A 16.74% APR fixed interest rate loan would have 15 years/180 monthly payments of $152.07 and would result in a total estimated payment amount of $35,324.10. During in-school and grace periods, the monthly payment will be $139.50.
Fixed $25 Payments: These examples provide estimates based on fixed $25 payments while in school and during the 9-month grace period. A 17.10% variable interest rate (15.11% APR) loan would have 15 years/180 monthly payments of $258.16 and would result in a total estimated payment amount of $47,893.80. A 16.74% fixed interest rate (14.84% APR) loan would have 15 years/180 monthly payments of $251.31 and would result in a total estimated payment amount of $46,660.80. For both variable and fixed rate loans, the monthly payment will be $25 during in-school and grace periods.
Deferred Payments: These examples provide estimates based on deferred payments. A 17.10% variable interest rate (14.85% APR) loan would have 15 years/180 monthly payments of $280.20 and would result in a total estimated payment amount of $50,436. A 16.74% fixed interest rate (14.58% APR) loan would have 15 years/180 monthly payments of $272.98 and would result in a total estimated payment amount of $49,136.40.
Residents of Hawaii must request a loan of at least $1,501.
Only applicants who have previously obtained a disbursed Earnest Private Student Loan are eligible for the Loyalty Discount. To obtain the discount you must also apply using the same email address associated with that loan. Only one Loyalty Discount may be applied per eligible Earnest Private Student Loan, and applicants eligible for separate discounts or awards under other qualified programs may not qualify. This offer cannot be combined with Earnest’s Rate Match program. Earnest may modify or discontinue this offer at any time and without notice; however, once a Loyalty Discount is earned, it will not be taken away.
Earnest does not charge fees for origination, late payments, returned check, or prepayments. Florida Stamp Tax: For Florida residents, Florida documentary stamp tax is required by law, calculated as $0.35 for each $100 (or portion thereof) of the principal loan amount, the amount of which is provided in the Final Disclosure. Lender will add the stamp tax to the principal loan amount. The full amount will be paid directly to the Florida Department of Revenue. Certificate of Registration No. 78-8016373916-1.
Repayment terms and repayment options available vary based on loan type.
Earnest clients may skip a single payment 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 final payoff date on your loan will be extended by the length of the skipped payment periods. Please note that skipping a payment is not guaranteed and is at Earnest’s discretion. Your monthly payment and total loan cost may increase as a result of postponing your payment and extending your term.
Student Loan Origination Rate Match Guarantee
To qualify for this Earnest Rate Match and Bonus offer: 1) you must submit a completed student loan application; 2) you must provide documentation of an eligible competitive rate offer exclusive of all discounts by calling Client Happiness at (888) 601-2801 or chat on Earnest.com and follow the instructions to send in your proof of lower rate; and 3) you must provide a valid email address during the application process. This offer cannot be combined with Earnest’s Loyalty Discount. The bonus will be paid out in the form of a gift card to the primary borrower only (regardless of who submits the rate match). You will receive instructions on how to redeem the gift card via the email address you have provided. Limit one rate match bonus per application. A bonus cannot be issued to residents in KY, MA, MI, or to applicants eligible for awards under other qualified programs. Bonuses that are not redeemed within 180 calendar days of the date they were made available to the recipient may be subject to forfeit. Bonus amounts of $600 or greater in a single calendar year may be reported to the Internal Revenue Service (IRS) as miscellaneous income to the recipient on Form 1099-MISC in the year received as required by applicable law. Recipient is responsible for any applicable federal, state or local taxes associated with receiving the bonus offer; consult your tax advisor to determine applicable tax consequences. Additional terms and conditions may apply. Earnest may discontinue this program at any time.
last updated: 09/29/2026