is earnest student loans legit reddit

In the current financial climate students’ loans are an important resource for students who are pursuing higher education. With a variety of lenders to choose from it is crucial to determine which ones are genuine and trustworthy. One lender that has attracted interest is Earnest. However, how real is Earnest Students Loans? What does people in the Reddit members have to say? This article delved into the validity of Earnest Student Loans looking at Reddit information, advantages as well as drawbacks, before contrast it against other lenders.

Understanding Earnest Student Loans

Earnest is a cutting-edge technological company in the field of finance that offers various loan options such as student loans and refinancing student loans. Established in 2013, Earnest strives to deliver flexible, individualized financial solutions than traditional banks. Their strategy is based on personal financial responsibility and the possibility of earning instead of simply credit scores.

Key Features of Earnest Student Loans

  • Repayment plans that can be customized: Borrowers can choose their own terms for repayment.
  • Free: Absolutely no fees for origination penalties for prepayment, late charges.
  • Competitive Rates of Interest Fixed and variable rates are offered.
  • Options for Deferment: Forbearance and deferment options for people who are facing financial difficulties.
  • Customer Service: High-quality customer service to help those who are borrowers.

Legitimacy of Earnest Student Loans

Accreditation and Reviews

Earnest is a lender licensed and is accredit through the Better Business Bureau (BBB) with an A+ rating. Earnest has received numerous favorable reviews from various platforms, demonstrating their dedication to honesty and customer satisfaction.

Transparency and Ethical Practices

Earnest believes in the transparency of its the conditions and terms, interest rates and repayment options, without additional fees. The ethical way they lend has earned them good position on the market for student loans.

Reddit Community Insights on Earnest Student Loans

Reddit is a site which lets users freely discuss their experiences and opinions offers valuable information about the credibility of Earnest Student Loans. Here’s a brief summary of most frequently discussed topics in Reddit discussions on Earnest:

Positive Feedback

  • User-Friendly Application Process Numerous Reddit users are raving about the ease and simplicity of the application procedure.
  • Flexible Repayment Option: Users appreciate the possibility of modifying the repayment conditions.
  • Customer Services: Positive experiences with Earnest’s customer service are often reported.

Negative Feedback

  • The impact of credit scores: Some users noted that although Earnest has low rates, a good credit score is typically needed to get getting the perfect rates.
  • Application Process for Approval: A few users were unable to complete this approval procedure.

Benefits of Choosing Earnest Student Loans

The choice of Earnest to meet your student loan requirements offers several benefits:

Customization and Flexibility

The most notable feature of Earnest is its ability to modify the repayment schedule for your loan. This flexibility could benefit customers make loan payments more in line to their financial goals and capabilities.

Competitive Rates and No Fees

Earnest provides competitive interest rates which are typically less than traditional banks and doesn’t charge origination, prepayment or late fees. These can benefit borrowers save a substantial sum of cash over the duration that the loans.

Customer Service

Earnest is renowned for its outstanding customer service. They add prompt and professional assistance to its customers that is an important element for many borrowers when deciding on the right lender.

Drawbacks of Earnest Student Loans

Although they have many benefits, Earnest Student Loans have some drawbacks worth considering:

High Credit Score Requirement

In order to get the accurate rates on interest for the accurate interest rates, a good credit score is usually needed. This could be a problem for those with less than perfect credit.

Limited In-School Deferment Options

In comparison to different lenders Earnest provides fewer possibilities for deferring payments when in school. This can be a problem for students who are currently in school.

Comparison of Earnest against Other Lenders

To make an informed choice it is essential to compare Earnest against other lenders for student loans like SoFi, LendKey, and CommonBond.


  • Benefits The company offers job counseling and networking activities, at competitive rates, no cost.
  • Con: Requires high credit scores, with limited in-school deferment options.


  • Benefits A community-oriented approach that is lower interest rates for those who are eligible, diverse lending partners.
  • Con: Limited to specific lending partners, the approval process may be slow.


  • Advantages The social mission (Pencils of Promise alliance) with competitive rates, options for forbearance.
  • Pros: Requires high credit scores, more limited repayment options.


Earnest Student Loans present a appealing feature for those looking for flexible rates, flexibility, and a clear lending process. While a credit score of high might be required to obtain some of the excellent prices, flexibility of repayment plans and no charges provide Earnest an excellent choice in the market for student loans. Information from the Reddit community further confirm Earnest’s popularity for its ease of use and top customer service. When weighing the advantages and drawbacks of the loan, and by comparing Earnest against other lenders, the borrower are able to make an informed choice that is in line to their goals in terms of finances and requirements.

Frequently Asked Questions

What is Earnest Student Loans?

Earnest is a technology-based financial company that provides student loans and refinancing with affordable interest rates and zero charges.

Are Earnest Student Loans Legitimate?

Absolutely, Earnest can be considered a legitimate lending institution, accrediting through the BBB with an A+ rating and known for its openness and service to customers.

What are the advantages that accrue from with Earnest?

Benefits include flexible repayment plans with competitive interest rates, free of charge, and exceptional customer service.

What are the negatives to Earnest Student Loans?

Some drawbacks include high credit scores in order to secure the excellent rates, as well as limited in-school deferment options.

How Does Earnest compare to other lenders?

Earnest has more flexibility and has no charges compared to traditional lenders, however it does require more credit scores, like other fintech lenders, such as SoFi or CommonBond.