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What if I want to refinance my student loan?

You may apply to refinance your Earnest student loan for many reasons: in order to change your interest rate from fixed to variable (and vice versa), to get a new monthly payment or interest rate, or to add a new payoff to your existing Earnest loan.

The pre-requisite for applying is that you've made consecutive, on-time payments for the most recent six months. This process can happen no more than once every six months, and requests are subject to approval. (Please note that skipping a payment or going into forbearance will reset the clock.)

To start the process, you will need to submit a new application by logging in to your Earnest account, going to "Products" and then "Student Loan Refinance". Please note that unless we have run a hard credit inquiry within the last 30 days, a new hard credit inquiry will be necessary to consider your application.

Please note that the interest rate on your new loan will be based on prevailing interest rates and your financial profile at the time of your request. As such, this rate may be different from those you were offered when your current loan was signed. You are also subject to the lending laws of the state you currently reside in, which means that some rates may not be available in your state (see here for more details).

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