Earnest

The Earnest app is a student loan and refinancing platform that helps users borrow money for education and manage or refinance their student loans. Designed with flexibility and transparency in mind, Earnest gives users the power to customize repayment terms, track their loans, and make smarter financial decisions—all through a clean, user-friendly interface.

Earnest is well known for offering:

Student loans for undergraduate and graduate students
Student loan refinancing for those who want to lower their interest rates or monthly payments
No fees for origination, late payments, or prepayment penalties

Benefits of Using the Earnest App

1. Flexible Repayment Terms

Unlike many lenders, Earnest lets you choose your own monthly payment and loan term. This flexibility helps users match payments to their budget and pay off loans at their own pace.

2. No Hidden Fees

Earnest charges no origination, prepayment, or late fees, which can save you hundreds over the life of a loan.

3. Competitive Interest Rates

Earnest offers both fixed and variable rate loans, often at lower rates than federal options, especially for those with strong financial profiles.

4. Customization Tools

With sliders and calculators, you can see how different loan amounts, interest rates, and repayment periods affect your monthly payments in real time.

5. Credit-Free Prequalification

You can check your rates without affecting your credit score through a soft credit check. This lets you shop around safely.

6. Refinancing Options

If you already have student loans, you can refinance them through Earnest to potentially lower your monthly payments or shorten your loan term.

7. Easy Mobile Access

The app allows you to monitor loan balances, make payments, set up auto-pay, and get customer support directly from your phone.

How to Use the Earnest App

Using the Earnest app is straightforward. Here’s a step-by-step guide:

Step 1: Download and Sign Up

Download the Earnest app from the App Store or Google Play.
Sign up with your email address and create a secure password.

Step 2: Check Your Rates

Use the app’s prequalification tool to see what rates and terms you qualify for.
There’s no impact on your credit score at this stage.

Step 3: Choose Your Loan or Refinancing Plan

Select the type of loan you need (new student loan or refinance).
Customize your loan amount, monthly payment, and repayment term using the app’s sliders and tools.

Step 4: Apply Online

Fill in your application directly within the app.
You’ll need to provide basic personal, financial, and academic information.

Step 5: Track and Repay

Once approved, use the app to monitor your loan balance and schedule payments.
Set up auto-pay to avoid missing due dates and possibly lower your interest rate (Earnest offers a 0.25% discount for auto-pay).