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How do I Change my Auto Payment Amount? | Student Loan Refinancing

You can make adjustments to your Auto Payment amount by following these steps:

  • Sign in to your Earnest account.
  • Select “Edit” in the upcoming payments box or click “View Loan Details” from the loan card ellipsis.
  • Click “Change Auto Pay Settings” and “Edit Amount” from the sidebar to type in your preferred amount.
  • Review the changes and submit.

When changing your payment amount, there are a few restrictions to keep in mind: 

First, the ability to edit the amount, bank, and frequency will appear after your first statement has been generated. This means the "Change Auto Pay Settings" tile won't be visible during the first 30-days your loan is active.

Second, increasing your monthly auto-payments will take 10 calendar days to reflect on your Earnest dashboard. 

Third, decreasing your payment amount will take 2 business days. It’s important to note, you may decrease your payment to any amount, so long as the new amount does not fall below the minimum amount required, result in a balloon payment (a large final payment), or push your final payment date beyond your original loan term.

Finally, Biweekly payment amounts can take up to 1 billing cycle to adjust when increasing or decreasing the total amount, so make sure to plan ahead when requesting these changes.

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