Earnest: Pros, Cons, and Review

For those who want flexibility in structuring and repaying their loans, Earnest is an excellent option. You can customize the terms of your loan and choose from a range of repayment approaches. Unfortunately, you won’t be able to see your rates without undergoing a hard credit inquiry.

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Pros

  • Customize the length of your loan and your monthly payment
  • Multiple in-school repayment options
  • Exceptional nine-month grace period
  • Option to skip a payment once every year
  • No origination or late fees

Cons

  • No option to see real rates without a hard credit inquiry
  • Relies on an outside loan servicer
  • Not available in all 50 states

Earnest: What You Need to Know

Earnest is a well-known lender that helps people out with personal loans, refinancing, and loan consolidation. Recently, this popular financing option launched the newest branch of its lending program, private student loans, and it has been well received across the board. Earnest private loans provide a 9-month grace period for repayments, no fees, and plenty of repayment options. Check out what else Earnest has to offer.

Lender/Loan: Potential Benefits for Borrowers

f you want a loan that keeps pace with your lifestyle, ‘Lorem Ipsum’ could be a great choice. With plenty of repayment possibilities, ‘Lorem Ipsum’ offers the kind of flexibility that many borrowers value.

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Lender/Loan: Potential Drawbacks for Borrowers

No lender is the perfect fit for all borrowers, and there are some ways ‘Lorem Ipsum’ could deliver an even better customer experience. For example, they don’t provide a soft pull credit check, and cosigner release can take longer than with other lenders.

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Lender/Loan: The Details

Loan Amounts and Term Lengths

Minimum loan amount
$1,000
Loan term options
1 year
Multi-year approval available
Yes

Interest Rate Ranges

Variable rates
1.24% - 11.44%
Variable low APR
1.24%
Variable high APR
11.44%
Fixed rates
3.49% - 12.78%
Fixed low APR
3.49%
Fixed high APR
12.78%

Repayment Options

In-school payment options
Lorem Ipsum
Grace period
Lorem Ipsum
Cosigner release available
Lorem Ipsum
Loan servicer
Lorem Ipsum

Other Perks and Options

Interest rate discounts
$1,000
Other rewards or services
1 year

Lender/Loan: Eligibility and Application Requirements

Eligibility Details

Income requirements
Lorem Ipsum
Credit score requirements
Lorem Ipsum
Eligibility for international borrowers
Lorem Ipsum

Application Details

Application or origination fees
Lorem Ipsum
Soft pull rate check availability
Lorem Ipsum

Private College Loans: Understanding Your Options

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Are Lender/Loan Right for You?

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Advantages

  • No payments due until after you leave school
  • Flexible repayment options, including options to tie payments to your income
  • Postponement benefits allowing you to temporarily lower or delay your loan payments in times of financial hardship
  • Loan forgiveness programs for certain people in public service

Are Lender/Loan Right for You?

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Compare this loan to other Private Student Loans

See how the Earnest loan compares to loans from other lenders

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