Interest begins to accrue on your loan the day your course begins. If your loan is eligible for deferment, interest will still accrue while you are not making payments.
Earnest calculates interest at a simple daily rate, where a small portion of the interest (your interest rate divided by 365) accrues every day.
Note: personal loans originated by Earnest may be serviced by either Earnest or SST. For information about SST, click here. If you're unsure whether or not your loan is serviced by SST, please log into your account, and click on the "My Loans" tab. If the "My Loans" tab shows a "Loan Details" button, your loan is serviced by Earnest. Otherwise, it is operated by SST.