Earnest Education Loan
US LenderA US-based private student lender offering no-fee loans with flexible repayment terms, for study at eligible US schools — best suited to borrowers with strong credit or a creditworthy US-based cosigner.
Why Choose Earnest Education Loan?
No Fees, Ever
No origination fees, application fees, or prepayment penalties — a rarity among private student lenders in the US.
Fixed or Variable Rates
Choose fixed APR from 3.04% to 16.74%, or variable APR from 5.24% to 17.10%, with an extra 0.25% discount for autopay.
Flexible In-School Payments
Choose from full payments, fixed $25/month, interest-only, or fully deferred payments while enrolled, plus a 9-month grace period after graduation.
Cosigner Release
Cosigned borrowers can apply to release their cosigner after 12 consecutive, on-time principal and interest payments.
Up to 15-Year Terms
Cosigned loans offer terms of 5, 7, 10, 12, or 15 years; independent undergraduate borrowers can choose 10, 12, or 15 years.
Expenses Covered
Earnest Loan Highlights
- No origination, application, or prepayment fees
- Loan amount based on your school's certified cost of attendance
- 0.25% autopay discount, plus an extra 0.25% for returning borrowers
- Repayment terms from 5 to 15 years depending on cosigner status
- No collateral required — loans are unsecured
- Full discharge on death or total permanent disability
- Cosigner release available after 12 consecutive on-time payments
- Rate check available without a hard credit inquiry
Eligibility Criteria
US Citizen or Permanent Resident
Earnest primarily serves US citizens and permanent residents; other visa holders should check current eligibility, as this can vary.
Eligible US School
Applicant must be enrolled at least half-time at a Title IV-eligible degree-granting US institution.
Cosigner Usually Needed
Independent borrowers with strong US credit can apply alone; most students, especially those without an established credit history, will need a creditworthy US-based cosigner.
No Collateral Required
Loans are unsecured — no property or asset needs to be pledged, regardless of whether you apply alone or with a cosigner.
Documents Required
Standard checklist for education loan applications — confirm the exact current list with Earnest directly before applying.
Borrower Documents
- Government-Issued ID
- Social Security Number
- Proof of Enrollment
- Income / Employment Verification
- School-Certified Cost of Attendance
- Bank Account Details (for disbursal)
Cosigner Documents (if applicable)
- Government-Issued ID
- Social Security Number
- Proof of Income
- Credit History Consent
- Address Proof
Not Required by Earnest
- No Collateral Documents
- No Property or Asset Papers
- No Application Fee
How Earnest Education Loan Works
Check Eligibility
Apply & Upload Documents
Application Login
Credit Evaluation
Sanction Letter
Visa Approval
Disbursement of Loan
University Coverage
Earnest funds loans for students enrolled at least half-time at Title IV-eligible degree-granting institutions across the United States — it is a US-focused lender and does not offer loans for study in India or other countries. Coverage and terms are primarily aimed at US citizens and permanent residents; confirm your specific eligibility and school with Earnest directly or our counsellors before applying.
EMI Calculator
Estimate your monthly EMI for a Earnest education loan based on amount, tenure, and interest rate.
Open EMI CalculatorFrequently Asked Questions
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