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How can I switch to bi-weekly auto payments? | Student Loan Refinancing

Our biweekly Auto Pay option allows you to make payments every two weeks instead of once per month. This lets you sync your payments with your pay periods, and can also help reduce accrued interest. If you're interested in setting up biweekly auto payments, you can do so from your Earnest dashboard.

When can I enroll in biweekly payments?

If your "Summary" dashboard displays a "Change Auto Pay Frequency" button under the "Details" section, your account is ready to enroll. Generally speaking, you can enroll 6 days after your last payment due date. If your Earnest loan is new, you'll be able to switch to biweekly auto payments 20 days prior to your first due date.

How do I enroll in biweekly auto payments through my dashboard?

The process is different depending on if you have already made monthly automatic payments or not.

If you are not currently enrolled in Auto Pay:

1) First, opt in to monthly Auto Pay by:

  • Log in to your Earnest account here
  • Click the green "Loan Details" button
  • Once you're on the Summary page, scroll and open the "Details" tab
  • Click the green "Enroll In Auto Pay" button
  • Provide your bank details and click “Submit"

2) Wait for your first monthly autopayment to process.

3) A week after this payment processes, follow the instructions below to finish your enrollment.

If you are currently enrolled in monthly Auto Pay, you can enroll in biweekly auto payments with these steps:

  • Log in to your Earnest account here
  • Click the green "Loan Details" button
  • Once you're on the Summary page, scroll and open the "Details" box
  • Click the green "Change Auto Pay Frequency" button
  • A pop-up window will appear. Change the payment frequency to "Every 2 Weeks"
  • From there, you can decide the payment date that works best—this will be your first biweekly auto payment date. Your future payments will fall on the same day every two weeks thereafter.

Depending on the date you choose, your monthly auto payment will be canceled, and a manual monthly payment will be needed. If this is the case, you will see red messaging stating "ACTION REQUIRED." Please follow the directions in this messaging to ensure your loan stays on track.

Can I move from biweekly back to monthly if I need to?

Yes. You'll need to wait for your first biweekly auto payment to post to your account. Then you'll be able to use the "Change Auto Pay Frequency" button to move back to a monthly payment schedule.



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