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What makes refinancing my student loans with Earnest different from other refinancing or consolidation options?

Our student loan refinancing is unique in several important ways:

  1. Merit-Based Rates: We offer our clients low interest rates that they have earned by being financially responsible. This can save you thousands or tens of thousands of dollars over other lending options that only look at your credit score.
  2. No Fees for Origination, Prepayment, or Anything Else: Our business is built on interest payments, not hidden fees or gimmicks.
  3. No Middlemen: While other lenders pass you off to a third party to manage your loan, we believe in doing everything ourselves so that we can ensure you have a great experience. Real people in our office are never more than a call or email away.
  4. Precision Pricing: Set the exact payment amount you want without being restricted to standardized options that are not right for you. You can even specify the exact number of months in which you want to pay off your loan.
  5. Radical Flexibility: This is the first student loan refi program specifically designed to flex with you and your life:
    • We make is easy for you to choose the most optimal terms for your financial situation right when you sign.
    • Make smaller payments every two weeks rather than monthly so that you pay less interest overall.
    • Schedule extra payments to save on interest whenever you have extra funds available.
    • If you decide to attend an accredited graduate school at least half time, you may apply for a deferment while you pursue your degree.   
    • Skip a payment: After 6 months of on-time payments, you will be eligible to skip a payment every 12 months. While this feature can be extremely helpful when life hits a bump in the road, please note that the principal and interest from that payment will be spread out across your remaining payments, resulting in increased monthly payments.

However, please note that in November 2017 Earnest was acquired by Navient as an independent subsidiary. Navient has an agreement with Sallie Mae Bank that prohibits the refinancing of Sallie Mae loans until 12/31/18. If your loan is currently either owned or serviced by Sallie Mae, we're currently unable to refinance it.

Please note that some loans are owned by Sallie Mae but serviced by another company, such as Navient. To confirm whether or not your loans are currently owned by Sallie Mae, we recommend contacting your current servicer.

If you have loans at both Sallie Mae and another lender, the non-Sallie Mae loans may still be eligible for refinancing. If you apply and are approved, your loan offer would apply only to your non-Sallie Mae loans.

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