We know that unexpected life events can affect your budget, so we offer student loan refinancing clients the ability to skip one payment every 12 months. Your first request to skip a payment can be made once you've made at least 6 months of consecutive on-time payments, and your loan is in good standing. This skipped payment will then be spread out across your remaining payments, resulting in an increase in your monthly minimum payment. Please be aware that a skipped payment does count towards the forbearance limits outlined in your loan agreement. Please note that skipping a payment is not guaranteed and is at Earnest's discretion.
You may request to skip a payment by calling our Client Happiness team at (888) 601-2801 if you are eligible to do so at least five (5) business days before the date you would like your request to take effect. If you are unable to make your upcoming payment or are experiencing financial hardship, please let us know as soon as possible and click here for more information.
Personal loans and coding bootcamp loans are not eligible for the skip-a-payment feature.