Loans
Earnest Private Student Loan review: is it worth it?
Are you looking for a student loan to complete your studies? Earnest Private student loan has advantageous low rates and flexible payment. Check out!
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Note: Some information in this post might be outdated. For the most current documentation and updates, please refer to the product’s original page.
Earnest Private student loan review and benefits: Low APR and full financing possibility
The Earnest Private student loan is the perfect option for those studying in private institutions. It can fund a minimum of $5,000 up to the full course, depending on terms. It has a low APR, both fixed and variable.
There are also more specific loans depending on the course area. For example, if you study something in the medical field, the fees may differ. Check out more about this option.
| APR | The fixed APR rate starts at 3.22% and includes a 0.25% Auto Pay discount The variable APR rate starts at 2.55% and includes a 0.25% Auto Pay discount |
| Loan Purpose | Private Student Loans such as Undergraduate, Graduate, MBA, Medical, Law, and others |
| Loan Amounts | $5,000 minimum |
| Credit Needed | Good score |
| Origination Fee | N/A |
| Late Fee | N/A |
| Early Payoff Penalty | N/A |
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Earnest Private student loan: how does it work?
The Earnest Private student loan grants money for study funding. These studies can be specific, like those in the medical field, or even more general, like any degree.
The request for evaluation of your application can be made online or through the application.
To apply, it is necessary to fill out registration with your personal and financial data. Thus, your evaluation is carried out, and you have a return.
Is it worth it to apply for the Earnest Private student loan?
The Earnest Private student loan is a great option for those who need to complete their studies in private institutions.
It can cover up to 100% of the total, as per your credit history. But, it also has some disadvantages. Check out!
Benefits
- Provides loans for undergraduate, graduate, professional programs, parents, and specific courses such as medical and law.
Disadvantages
- The minimum credit score requirement is 650, which is slightly higher than other options;
- There is no co-signer option to refinance student loans, which can increase fees.
What credit scores are required for the application?
To apply for the Earnest Private student Loan, it is important to have a good credit score. The company requires a minimum of 650 as a score in order for you to qualify for this loan.
It is also important to have a good credit history of increasing your chances. It’s still not a high credit score, but it’s already higher than some other student loan alternatives.
Earnest Private student loan: applying for this loan today
Only those who study know how important financial aid can be in their studies. Earnest Private Student has a lot to offer you, but it’s important to learn about the Earnest Private student loan application. So, read on!
To apply, you need a minimum credit score of 650, and it is not possible to add co-signers. Check out more details about this loan.
Apply online
Before starting your application, you can check your qualification and see if you are eligible through the website.
If so, you can now apply. The site requests Permanent Address School information and expected graduation date.
In addition, you need to inform them how much you want to borrow and provide employment and income information. By filling in this data, your chances increase.
Requirements
Those eligible to apply are those with a credit score greater than 650. In addition, they must be regularly enrolled in an institution of higher education.
Apply on the app
You can download the app to manage your loan options. However, you’ll need to go to the official website to complete the loan application process.
Earnest Private student loan vs. Sallie Mae student loan: which is the best for you?
A student loan can help you get the degree you’ve been dreaming of. The Earnest Private Student Loan has great qualifications, like a low APR.
However, the Sallie Mae Student Loan can also be an option. However, it has higher APR rates and does not indicate a minimum credit score. Check out the comparison.
| Earnest Private student loan | Sallie Mae student loan | |
| APR | Fixed APR rate starts at 3.22% and includes a 0.25% Auto Pay discount Variable APR rate starts at 2.55% and includes a 0.25% Auto Pay discount | Career Training Student Loans: 3.25% to 13.97% variable APR 3.75% to 14.08% fixed APR For undergraduate students: 3.25% to 13.59% variable APR 3.75% to 13.72% fixed APR Rates for graduate student loans vary depending on the loan |
| Loan Purpose | Private Student Loans such as Undergraduate, Graduate, MBA, Medical, Law, and others | Funding for undergraduate, graduate, or technical career courses |
| Loan Amounts | $5,000 minimum | $1,000 minimum and up to 100% of the school-certified cost of attendance |
| Credit Needed | Good score | Does not disclose |
| Origination Fee | N/A | None |
| Late Fee | N/A | N/A |
| Early Payoff Penalty | N/A | N/A |
If you like the Sallie Mae student loans’ features, check out our post below to learn all about the application process!
Sallie Mae student loan application
Completing your studies is not an easy task, is it? But with the Sallie Mae student loan you can have peace of mind. Read to learn how to apply for Sallie Mae!
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