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How do I enroll in monthly Auto Pay? | Student Loan Refinancing

If you're looking to enroll your Personal Loan in Auto Pay click here.
If you're looking to enroll your Private Student Loan in Auto Pay click here.

For your Student Loan Refinance, you'll enroll in Auto Pay through your online dashboard. It's important to note that Auto Pay enrollment can take 1-2 billing cycles to activate, during which time you'll need to make your payments manually.

Here's how to complete your enrollment:

  • Sign in to your Earnest account
  • Click the "View Loan Details" from the loan card. 
  • Select “Change Auto Pay Settings.” Note, this button will appear once your first billing statement is sent.
  • Click the "Enroll in Auto Pay” hyperlink.
  • Choose a bank for automatic withdrawals, then “Confirm & Save.” 
  • A confirmation will appear showing when your Auto Pay will begin (you'll also receive an email). 

Enrollment will appear online within 1-2 billing periods, depending on the timing of your request. Until then, please refer to your confirmation email for all your Auto Pay details.

If you're signing a loan offer and would like to enroll in Auto Pay, you can do so in the final stages of accepting your loan. “Step 5: Sign Agreement” includes a field on the second to last page where you can opt into Auto Pay by entering the last four digits of your Social Security number. Your loan will be activated with a 0.25% interest rate reduction.

As a reminder, the interest rate reduction for Auto Pay will be available only while your loan is enrolled in Auto Pay and will be removed if terminated. Your minimum payment amount may increase to account for the higher interest rate. Re-enrollment allows the interest rate reduction to resume. 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.

Looking to enroll in biweekly Auto Pay? Check out this article.

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