You may be able to refinance your Earnest Student Loan Refinance again to meet your financial goals. To be eligible, the loan must have been disbursed more than 30 days ago, it must not be past due, and you must not be enrolled in a hardship or bankruptcy forbearance, skip a pay or any interest only repayment program.
To get started, please sign in to your profile, select "Start a New Application" on your loan card, and choose 'Student Loan Refinance Application.' You'll then be able to check your rate estimates with the tool. If you have an application that is currently under review or has been approved, please reach out to us for assistance. We can also share our current rate ranges based on 5, 10, 15, and 20-year loan terms - just let us know.
After checking your rates using our rate estimating tool, if you'd like to move forward with a full application, below are a few things to keep in mind:
- Please review our Eligibility Guide & Requirements for further details.
- Your new loan must be $5,000* or more.
- If approved, your entire Earnest loan balance will be paid off with the new loan. We're unable to do partial re-refinances at this time.
- To be able to offer you new rates, we will need to review your current financial profile. Lower rates may be available when there is a significant increase in assets and income and decreased overall debt levels compared to your last application's financial profile.
- The application will ask you to consent to a new hard credit inquiry to review your most recent credit report.
- The balance of your connected financial accounts is out of date. When you get to the application's financial page, please reconnect them and be sure to include all of your assets. You may end up with some duplicated accounts, but that's ok.
- The process is currently estimated to take approximately 20-25 days: the review may take up to 10 days, and if we're able to approve you for a new refinance loan, finalizing your application and disbursing your new loan may take an additional 10-15 days.
- The option to refinance is only available to clients currently living in a state where Earnest has a license to lend.
*Due to state limitations, residents of California must request a student loan refinance of at least $10,000, and residents of New Mexico must request a student loan refinance of at least $10,001.
If you have any questions feel free to contact us by clicking the "Get In Touch" button found at the bottom of this article.