Earnest Student Loans
Earnest is a private lender that offers student loans for undergraduate and graduate students, as well as refinancing options for existing borrowers. Earnest student loans have low-interest rates, flexible repayment terms, and no fees or prepayment penalties. Earnest also provides personalized loan amounts and rates based on your financial profile and goals.
To apply for an Earnest student loan, you need to follow these steps:
- Fill out a short online form to check your eligibility and get your rate. This will not affect your credit score.
- Complete the full application with your personal, academic, and financial information. You may need to upload some documents to verify your identity and income.
- Choose your loan term and monthly payment option. You can customize your repayment plan to suit your budget and preferences.
- Sign your loan agreement and set up your account. You will also need to provide your school information and loan amount.
- Wait for Earnest to verify your information and send the funds to your school. This may take up to 72 hours.
If you have any questions or need assistance during the application process, you can contact Earnest’s customer support team by phone, email, or chat.
What are the eligibility requirements for Earnest student loans?
According to the information my knowledge, the eligibility requirements for Earnest student loans vary depending on the type of loan you are applying for. Here are some general criteria that apply to all Earnest student loans:
- You must live in the District of Columbia or a state that Earnest lends in (all but Nevada).
- You must be the age of majority as defined by your state of residence.
- You must be a U.S. citizen or possess a 10-year (non-conditional) Permanent Resident Card.
In addition, there are some specific requirements for each loan product:
For student loan refinancing, you must have a minimum credit score of 650, a minimum income of $35,000 per year, and be current on your rent or mortgage payments. You must also have completed or be completing a degree from a Title IV-accredited school.
For private student loans, you must be enrolled at least half-time (undergraduate loans only) and be pursuing a bachelor’s or graduate-level degree from a Title IV-accredited, not-for-profit, four-year institution. You must also request a loan of at least $1,000.
For parent loans, you must have a minimum credit score of 650, a minimum income of $35,000 per year, and be the parent or legal guardian of an undergraduate student who meets the eligibility criteria for private student loans. You must also request a loan of at least $1,000.
If you are an international student who is not a U.S. citizen, you may be eligible for an Earnest loan if you meet certain conditions. For example, if you are from Canada, India, Mexico, or South Korea, and you are pursuing a graduate degree in business, engineering, or law, you may qualify without a cosigner. Otherwise, you may need to apply with a creditworthy cosigner who is a U.S. citizen or permanent resident.
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