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30Y FIXED6.85%↑ 0.02·15Y FIXED6.12%↓ 0.01·REFI 30Y6.78%↑ 0.01·HELOC9.20%0.00·JUMBO 30Y7.05%↑ 0.03·HYSA TOP4.85%↓ 0.05·12M CD5.10%0.00·24M CD4.85%↓ 0.02·5Y CD4.40%↑ 0.01·MMA TOP4.65%0.00·AUTO 60M NEW7.10%↓ 0.02·AUTO 60M USED8.45%↑ 0.04·PERSONAL EXC.8.20%0.00·10Y TREASURY4.32%↑ 0.01·30Y FIXED6.85%↑ 0.02·15Y FIXED6.12%↓ 0.01·REFI 30Y6.78%↑ 0.01·HELOC9.20%0.00·JUMBO 30Y7.05%↑ 0.03·HYSA TOP4.85%↓ 0.05·12M CD5.10%0.00·24M CD4.85%↓ 0.02·5Y CD4.40%↑ 0.01·MMA TOP4.65%0.00·AUTO 60M NEW7.10%↓ 0.02·AUTO 60M USED8.45%↑ 0.04·PERSONAL EXC.8.20%0.00·10Y TREASURY4.32%↑ 0.01·
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Private student loan review

Earnest Private Student Loan Review (2026)

Earnest earned 4.4 / 5 in our 2026 review. APRs run 5.62% to 16.20% on 5 to 15 years terms, with loan amounts $1,000 to $200,000. Best as a gap filler after federal aid for students who need more funding.

By the Fintiex Loan Desk · Updated 2026-05-02
Check rates at Earnest Compare student lenders
TL;DR stats
APR range
5.62% to 16.20%
Loan amount
$1,000 to $200,000
Term range
5 to 15 years
Origination fee
None
Loan type
Private
Min credit score
650
Cosigner release
36 months
Forbearance
Available
Pros
  • +Precision pricing with 180 rate options to find your exact rate
  • +Skip one payment per year with no penalty
  • +No origination fees or hidden charges
  • +0.25% autopay discount
  • +Merit-based underwriting considers GPA and field of study
  • +In-school deferment up to 9 months post-graduation grace period
Cons
  • -Cosigner release requires 36 months of payments
  • -Minimum credit score of 650 is stricter than some lenders
  • -Not available in all states

Rates and fees

APR range
5.62% to 16.20%
APR type
Fixed and variable
Origination fee
None
Late fee
5% of unpaid amount or $25, whichever is less
Prepayment penalty
None
Loan amount range
$1,000 to $200,000
Repayment terms
5 to 15 years
Forbearance
Available
Minimum FICO
650

Variable APRs typically start lower than fixed but can rise over the life of the loan. The Federal Reserve recommends fixed rates for repayment plans longer than 5 years.

In-school payment options

deferredfixed $25/monthinterest-onlyfull principal and interest

Deferring all payments costs the most in lifetime interest because interest accrues and capitalizes when you graduate. Interest-only payments cost less. A fixed $25 monthly payment is the cheapest in-school option that still keeps the balance from growing.

Who it is for

Earnest fits students who have maxed out federal aid and need $1,000 to $200,000 in additional borrowing. Best for applicants with FICO 650+ (or a cosigner with that profile), enrolled at least half-time at a Title IV school. Not a fit if you have not first applied for federal Direct Subsidized and Unsubsidized loans through FAFSA.

How to apply for a Earnest loan

Applying takes about 15 minutes online. You will need your school name and enrollment status, Social Security number, government ID, and cosigner info (if you have one). The U.S. Department of Education recommends submitting FAFSA first to confirm what federal aid you can get before borrowing privately.

  1. 1.Submit FAFSA at studentaid.gov to confirm federal aid eligibility before borrowing privately.
  2. 2.Prequalify on the Earnest site (soft pull) to see estimated APR with and without a cosigner.
  3. 3.Compare against 2 or 3 other private lenders. The CFPB confirms a 14- to 45-day shopping window adds no extra credit damage.
  4. 4.Submit the formal application with cosigner info if needed. Triggers a hard inquiry on both you and the cosigner.
  5. 5.School certification happens next; the lender confirms enrollment and cost. Funds disburse directly to your school.
Start a Earnest application

Frequently asked questions

Is the Earnest private student loan a good choice?
Earnest earned 4.4 out of 5 in our 2026 review. APRs run 5.62% to 16.20% on 5 to 15 years terms with no origination fee. The product fits students who need to fill a gap after federal aid.
What credit score do I need for a Earnest loan?
Earnest requires a minimum FICO of 650. The lowest advertised rate typically goes to applicants with 700+ FICO, stable income, and a creditworthy cosigner. The CFPB recommends prequalifying with a soft pull before any formal application.
Do I need a cosigner for a Earnest loan?
Most undergraduates do. Earnest does not technically require a cosigner, and it allows cosigner release after 36 months of on-time payments. Without a cosigner, you need strong personal credit and income to qualify for the best rate. Adding a creditworthy cosigner often cuts the APR by several percentage points.
Does Earnest charge fees on a private student loan?
Earnest charges no origination fee and no application fee, and no prepayment penalty. Late fees: 5% of unpaid amount or $25, whichever is less. The Federal Reserve recommends comparing APR rather than the headline interest rate, because APR rolls in origination.
What loan amounts and terms does Earnest offer?
Earnest private student loans range from $1,000 to $200,000. Repayment terms are 5 to 15 years. Choose the shortest term you can afford to minimize lifetime interest.
Does Earnest offer forbearance or hardship pause?
Yes. Earnest offers forbearance during financial hardship. Forbearance pauses payments but interest typically continues to accrue. The CFPB warns that forbearance should be a last resort because unpaid interest can capitalize and increase your total balance.
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