Earnest Inc. Review

Misleading business practices. I'd highly recommend a bank or credit union instead.

Be careful about applying for a student refi or any of that sort if you are enrolled or taking any type of classes. Their policy is that they will decline your application for that sole reason.

As a masters graduate working full time for a Fortune 100, I had signed up for graduate certificate (HBS) for career enrichment. For whatever reason, they see this as you "being in school" even though clearly I already have graduated with multiple degrees and have been employed full time for multiple years. Even with enrollment not being degree seeking, they take a hard stance on this. If you want to continue any educational enrichment, certificate, or professional class and you state that on the application, this is a flag for them.

It's a pretty crazy policy especially if you need to go for any professional license in the future. I should have read the reviews of this company before going through this route. It's a ding on my credit score now I guess.

Beware of this company if you value your credit score.

I really enjoy this company. A+ mission and values.

This company advertises that they do a merit-based review process when you are applying for a loan, but in the end they are just like every other finance company. The only thing they really look at is your credit and they will put one thing in their reasoning of denial, but then when you have them do a reconsideration because they didn't look over your information you attached to the application all of a sudden they add a couple more reasons for denial and all those reasons because of your credit report. It doesn't look like they considered any other of my information on my application because all thew other things they supposably reconsider I had a 100 percent on and met each requirement perfectly.

I have been using them for the past six months. The initial application and approval process is pretty painless. They appear to lack knowledge on the basics of student loans. My wife and i had consolidated a few years ago and they struggled to understand what a consolidated loan was or how to handle it. In the end they approved the loan. there rates are competitive which is why we choose them.

Basic website functioning is a problem. I have had numerous lock outs, which do not occur when paying my other bills (in other words I know how to pay bills online). I really think they want you to refinance, set up auto pay, and forget about it. We log in monthly to make additional payments and it is often an issue. When you call to report the problems they say there are not many people in the office and that they will have to get back to you by email. We will be accelerating our payments to get them out of our lives. In the end the savings do not justify the problems and wasted time.

I wish there was lower than a 1 star rating. This company uses bait and switch with their rates. During the application process I was told that I qualified for their lowest rate. They kept asking for more information, even information I had already provided. 3 times (on my original response to their offer and twice when I called in) I was told I qualified for their best rate. Then, when the offer came it was at a much higher rate. I can only imagine that they were trying to get me to sign off without looking. I try to not work with companies who lack integrity and certainly don't plan to work with Earnest.

Pros: Easy to apply

Cons: Misleading requirements for qualification. Customer Service leaves a lot to be desired.

Overall, you're better refinancing with a local credit union or another provider. After applying, I realized that Navient owns this business. 'Nuff said.

Great experience with customer service. Easy application process and quick response.

I was lucky to attend an event in their office and I am very thankful to their knowledgeable staff for hosting the event.

Do not waste your time and risk your credit score with this company. Once you complete the application online, they bait you with a reasonable interest rate after you give them permission to do a soft inquiry on your credit report only to keep you moving forward with the process. After I gave permission for them to run my credit report and do a "soft inquiry" they offered me a 5.33% fixed interest rate. I called to confirm after seeing this and the lady told me as long as the credit report matches the documentation (which it did) that interest rate should be very accurate. I moved forward and gave permission for them to do a hard inquiry only to come to find out the 5.33% rate changed to a 6.5% fixed rate w a payment much higher then I already have. I called and spoke with Peter only to be fed a bunch of bs and in the end he said there's nothing they can do for me. I have a 790 credit score on 2 of the credit bureaus and a 800 on the 3rd. No late or missed payments on ANY of my accounts on my report. BEWARE! this company uses the hook line and sinker method only to get access to your final credit report (hard inquiry) and unless your a doctor or surgeon your not getting anything less than a 6% fixed with these guys. I now have to wait 2 yrs for this unnecessary hard inquiry to fall off my credit history. Thanks earnest!

Choose wisely. I was able to get a lower rate than my previous federal student loan. However, Earnest's customer service is essentially non-existent. Also, Earnest's app on the App Store has not worked at all for several months now. For a company that supposedly touts its embracing of technology, I have no idea how their app being unusable for several months is acceptable. Read the reviews on the App Store.

Don t fall for their lies. They pretend to be different but they are worse than others in the market, because they are LIARS! Biggest scammers and nastiest phonies ever. They trick people to provide them with all their sensitive information and they pretend to consider different factors to weight applications but the liars only want your data. The level of stupidity in their responses can match the possibility of Godzilla attack.

Disappointing. They got bought by Navient and went downhill. Used to be great all around. Now, new rules are coming out. You used to be able to login and change your autopay date, or make biweekly payments. Now, they say you can only choose autopay from 3rd to 22nd of the month. And they say this is for the benefit of us? How? I used to recommend Earnest, now I'd say check soFi, and believe it or not, Citizens Bank has good rates, though they are owned by nelnet. It's getting harder and harder to find student loan servicers who are reasonable. Earnest has unfortnuately taken a turn for the worse, after being bought by Navient, who has a class action lawsuit pending for shady practices. Avoid them if you can.

DO NOT, I REPEAT, DO NOT go with this company. Feels like an absolute scam. After applying and being approved for a loan I ended up wanting to increase the loan amount. They wont do it you have to reapply. The company rep told my cosigner not to submit tax returns but to submit an income stub which then disqualified us by not showing enough income only to have the underwriter say if we had used the tax returns we would have been approved. instead of transporting them over from the old loan I'm told I can reapply AGAIN. not only that but shortly after being denied Im told i meet their qualifications for an independent loan but I'm a student with no income so i dont understand that gap in logic. Feels like a scam or like they have monetized applications in some way. never seen a company want this many apps for every different change. I finally turned them down to look else where. You should too!

I refinanced a student loan with Earnest and it's been a good experience. They were able to offer a lower interest rate, shorter payment term, and comparable payment terms to my previous student loan. Their customer service team have done a good job of handling any concerns I have when I chat online or call in.

Great company with a great mission. Employees really care about helping people with their student debt.