You can get private student loans from Earnest for both undergraduate or graduate studies. As mentioned above, Earnest’s student loans cover up to 100% of your school’s certified cost of attendance. Depending on where you live, you may be able to choose from useful in-school payment options such as deferred payments or small fixed monthly payments of $25 to reduce your accruing interest, and so on. Actual loan amounts and provisions will depend on your need and financial profile.

Earnest offers private student loans with either fixed or variable interest rates. Fixed rates are typically comparatively higher, but they remain locked in for the duration of the loan. At Earnest, fixed rates for student loans start from 5.09%. Variable interest rates are usually lower, but they can fluctuate throughout the life of the loan, and therefore could go up or down repeatedly (taking your monthly payment higher or lower with it). Earnest offers variable rates for student debt starting from 3.99%. Earnest recommends that you consider having a cosigner for your student loan, especially if you are planning on pursuing undergraduate studies.

Earnest offers refinancing of student debt with either fixed or variable interest rates. At Earnest, refinancing your student loan with a fixed rate starts with an APR of 3.47%. Variable rates for student debt refinancing start from 2.41%. Earnest’s “precision-pricing” model gives you a lot of leeway when trying to devise a repayment plan. By setting your preferred monthly payment to one that is more affordable to you based on your budget, you are more likely to be able to keep up with your monthly payments.

Earnest also offers personal loans for amounts ranging from $5,000 to $75,000. Interest rates are fixed and start from 6.99%. These loans are for periods of three to five years.

In order to apply for a loan with Earnest, you need to meet the following requirements.

Personal loans:
•Be a United States citizen; a long-term permanent resident alien (10-year green card); or a conditional permanent resident alien (2-year green card) with an acceptance or approval of Form I-751 “Petition to Remove Condition on Residence”
•Be at least 18 years old
•Currently reside in the District of Columbia or one of the 45 states the company operates (all but Alabama, Delaware, Kentucky, Nevada, and Rhode Island)
•Have a credit score of at least 680
•Have a history of on-time payments as the primary borrower on any revolving or installment account that is reported to a credit bureau (e.g. student loans, personal loans, car loans/leases, mortgages, credit cards or charge cards)
•Have not declared bankruptcy within the last 3 years; nor have any open collections accounts

Private student loans:
•Be a U.S. citizen or permanent resident (the primary loan applicant is not required to be a U.S. citizen or permanent resident in case of a cosigned loan, but is required to have a Social Security Number)
•Currently live in the District of Columbia or a state that Earnest lends in (all but AK, CT, DE, HI, IL, KY, NH, NV, OH, TX, VA)
•Be the age of majority as defined by your state of residence (both primary loan applicant and cosigner)
•Enrolled in a school that is a Title IV-qualified, not-for-profit, 4-year institution, pursuing a bachelor’s or graduate degree (full-time)
•Minimum loan amount of $1000 unless specified by state of residence
•Have a minimum FICO score of 650 (in the case of a cosigned loan, the primary loan applicant is not required to have a minimum FICO score)
•Have at least 3 years of credit history, an income of at least $35,000 per year, have no bankruptcy on your credit report, nor have any accounts currently in collection
•Have a history of on-time payments as the primary borrower on any revolving or installment account that is reported to a credit bureau (e.g. student loans, personal loans, car loans/leases, mortgages, credit cards or charge cards)

No matter which of Earnest’s loan products you wish to use, the process starts with visiting the company’s website to get a rate applicable to you or to check your eligibility. If you decide to proceed further, you will need to provide more information to the company via an online application that gives Earnest a thorough look at your personal and financial history. All this information is then taken into account when deciding on your loan request.

Earnest uses a proprietary algorithm to evaluate your creditworthiness, and subsequently offers you a more personalized rate based on your current circumstances.

Once an offer has been accepted, the loan amount will be transferred the following business day, meaning that you should see the loan proceeds in your bank account within one to two business days after signing.

If you are looking for any additional information, you can contact Earnest in the following ways:

•By phone: (888)601-2801, Monday to Friday from 8am-5pm PST

•By email: [email protected]

•By mail: 303 2nd Street, Suite 401N, San Francisco, 94107