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Eligibility Guide & Requirements

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Which product are you interested in?

Wondering whether you’re eligible for an Earnest loan? You’ve come to the right place. Each of our loan products has its own eligibility requirements, so choose a loan type to see what we look for. Please note that while certain criteria determine only your eligibility, other factors are considered strong predictors of approval.

Student Loan Refinancing

Personal
  • You are a U.S. Citizen, possess a Permanent Resident Card (10-year non-conditional or 2-year conditional), are a Deferred Action for Childhood Arrivals (DACA) Recipient, are an Asylee, or hold an H-1B visa with a U.S. Citizen cosigner.
  • Your current enrollment status is less than half-time and your student loans are in repayment, or your degree will be complete at the end of this semester.
  • You currently reside in the District of Columbia or one of the 49 states we lend in (all but NV). *Please note, we are not able to offer variable rate loans in AK, IL, MN, NH, OH, TN, and TX.
  • You are the age of majority in the state in which you reside.
Loan
  • You are currently the primary borrower on the student loans you would like to refinance.
  • You are not requesting new loans for future schooling.
  • The debt is from paying for a Title IV-accredited school.
  • The debt is from your own education.
  • The debt you’re refinancing is from one or more completed degrees or a degree that will be completed by the end of this semester OR matches ALL of the following:
    • The degree is incomplete
    • The last attending date is longer than 6 years ago
    • Your credit score is 700 or above
    • The school you attended was not a for-profit school.
  • You are requesting to refinance at least $5000 in student loans (residents of California must request to refinance $10,000 or more, and residents of New Mexico must request to refinance $10,001.00 or more).
  • You are not requesting to refinance an existing Earnest loan without at least 4 months of consecutive, on-time payments.
  • The debt must be held at an institution within the U.S.
Financial
  • You have a minimum credit score of 665.
  • You are employed or possess consistent income (in USD).
  • Your student loan accounts are all in good standing.
  • You are current on your rent or mortgage payments.
  • You do not have a bankruptcy on your credit report or accounts recently in collection.
Factors for Approval
  • You have enough savings to cover at least two months of normal expenses, including housing.
  • You spend less than you earn and have increasing bank account balances.
  • You do not carry large amounts of non-student, non-mortgage debt (e.g. credit cards, personal loans).
  • You have a history of making payments on time.
  • You are not regularly charged late, overdraft, or insufficient funds fees.

Parent PLUS Refinancing

Personal
  • You are a U.S. Citizen, possess a Permanent Resident Card (10-year non-conditional or 2-year conditional), are a Deferred Action for Childhood Arrivals (DACA) Recipient, are an Asylee, or hold an H-1B visa with a U.S. Citizen cosigner.
  • You are the primary borrower on the student loans you would like to refinance (please note: you will remain the primary borrower after refinancing).
  • You (the parent) have a high school diploma, a completed degree, or a degree that will be completed by the end of the semester OR matches ALL of the following:
    • The degree is incomplete
    • The last attending date is longer than 6 years ago
    • Your credit score is 665 or above
    • The school you attended was not a for-profit school.
  • You currently reside in the District of Columbia or one of the 49 states we lend in (all but NV). *Please note, we are not able to offer variable rate loans in AK, IL, MN, NH, OH, TN, and TX.
  • You are the age of majority in the state in which you reside.
Loan
  • The debt is from your eligible dependent’s education.
  • The debt is from paying for a Title IV-accredited school.
  • The debt you’re refinancing (your dependent’s) is from one or more completed degrees or a degree that will be completed by the end of this semester.
  • You are not requesting new loans for future schooling.
  • You are requesting to refinance at least $5000 in student loans (residents of California must request to refinance $10,000 or more, and residents of New Mexico must request to refinance $10,001.00 or more).
  • You are not requesting to refinance an existing Earnest loan without at least 4 months of consecutive, on-time payments.
  • The debt must be held at an institution within the U.S
Financial
  • You have a minimum credit score of 665.
  • You are employed or possess consistent income (in USD).
  • All student loans are all in good standing.
  • You are current on your rent or mortgage payments.
  • You do not have a bankruptcy on your credit report or accounts recently in collections.
Factors for Approval
  • You have enough savings to cover at least two months of normal expenses, including housing.
  • You spend less than you earn and have increasing bank account balances.
  • You do not carry large amounts of non-student, non-mortgage debt (e.g. credit cards, personal loans).
  • You have a history of making payments on time.
  • You are not regularly charged late, overdraft, or insufficient funds fees.

Cosigned Student Loan

Personal
  • Both primary and cosigner must live in the District of Columbia or a state that we lend in (all but NV) but they do not need to both live in the same state.
  • The cosigner must be the age of majority as defined by their state of residence.
  • Cosigner is a U.S. Citizen or possesses a 10-year (non-conditional) Permanent Resident Card (primary is not required to be a U.S. Citizen or Permanent Resident but is required to have a SSN) and is a Deferred Action for Childhood Arrivals (DACA) Recipient, or is an Asylee.
  • If the primary is an international student without a SSN, please contact our Client Happiness team.
Loan
  • Undergraduate or Graduate student is enrolled at least half-time.
  • Student is pursuing a Bachelor’s or Graduate degree.
  • School is a Title IV-qualified, not-for-profit, 4-year institution.
  • You’re requesting a loan of at least $1,000 (residents of Hawaii must request a loan of at least $1,501).
  • Past-due balances up to 365 days prior.
Financial
  • Cosigner has minimum FICO score of 650 (primary is not required to have a minimum FICO score).
  • Cosigner has at least 3 years of credit history.
  • Cosigner has minimum income of $35,000 per year (in USD).
  • Cosigner and primary do not have a bankruptcy on their credit reports.
  • Cosigner and primary have a history of on-time payments as the primary borrower on any revolving or installment account that is reported to a credit bureau (e.g. student loans, personal loans, car loans/leases, mortgages, credit cards or charge cards).
  • Cosigner and primary do not have any accounts currently in collection.
Factors for Approval
  • You have enough savings to cover at least two months of normal expenses, including housing.
  • You spend less than you earn and have increasing bank account balances.
  • You do not carry large amounts of non-student, non-mortgage debt (e.g. credit cards, personal loans).
  • You have a history of making payments on time.
  • You are not regularly charged late, overdraft, or insufficient funds fees.

Independent Undergraduate Student Loan

Personal
  • You live in the District of Columbia or a state that we lend in (all but NV).
  • You are the age of majority as defined by your state of residence.
  • You are a U.S. Citizen or possess a 10-year (non-conditional) Permanent Resident Card or are Deferred Action for Childhood Arrivals (DACA) Recipient, or are an Asylee.
Loan
  • You are enrolled at least half-time.
  • You are pursuing a Bachelor’s degree.
  • Your school is a Title IV-qualified, not-for-profit, 4-year institution.
  • You’re requesting a loan of at least $1,000 (residents of Hawaii must request a loan of at least $1,501).
  • Past-due balances up to 365 days prior.
Financial
  • You have a minimum FICO score of 650.
  • You have at least 3 years of credit history.
  • You have an income of at least $35,000 per year (in USD).
  • You have no bankruptcy on your credit report.
  • You have a history of on-time payments as the primary borrower on any revolving or installment account that is reported to a credit bureau (e.g. student loans, personal loans, car loans/leases, mortgages, credit cards, or charge cards).
  • You have no accounts currently in collections.
Factors for Approval
  • You have enough savings to cover at least two months of normal expenses, including housing.
  • You spend less than you earn and have increasing bank account balances.
  • You do not carry large amounts of non-student, non-mortgage debt (e.g. credit cards, personal loans).
  • You have a history of making payments on time.
  • You are not regularly charged late, overdraft, or insufficient funds fees.

Independent Graduate Student Loan

Personal
  • You live in the District of Columbia or a state that we lend in (all but NV).
  • You are the age of majority as defined by your state of residence.
  • You are a U.S. Citizen or possess a 10-year (non-conditional) Permanent Resident Card or are Deferred Action for Childhood Arrivals (DACA) Recipient, or are an Asylee.
Loan
  • You are enrolled at least half-time as a college Graduate student.
  • You are pursuing a Graduate degree.
  • Your school is a Title IV-qualified, not-for-profit, 4-year institution.
  • You’re requesting a loan of at least $1,000 (residents of Hawaii must request a loan of at least $1,501).
  • Past-due balances up to 365 days prior.
Financial
  • You have a minimum FICO score of 650.
  • You have at least 3 years of credit history.
  • You have no bankruptcy on your credit report.
  • You have a history of on-time payments as the primary borrower on any revolving or installment account that is reported to a credit bureau (e.g. student loans, personal loans, car loans/leases, mortgages, credit cards or charge cards).
  • You have no accounts currently in collections.
Factors for Approval
  • You do not carry large amounts of non-student, non-mortgage debt (e.g. credit cards, personal loans).
  • You have a history of making payments on time.
  • You are not regularly charged late, overdraft, or insufficient funds fees.

International Independent Graduate Student Loan

Personal
  • You are an international student from Canada, India, Mexico, or South Korea.
  • You are the age of majority as defined by your country of origin.
Loan
  • You are enrolled at least half-time as a college Graduate student.
  • You are pursuing a Graduate degree in one of the following programs:  Masters of Business Administration, Masters of Engineering, or a Master of Laws / Juris Doctorate. 
  • Your school is a supported,  Title IV-qualified, not-for-profit, 4-year institution.
  • You’re requesting a loan of at least $1,000.
  • Past-due balances up to 365 days prior.
Financial
  • You have a minimum FICO-equivalent score of 660.
  • You have at least 3 years of credit history.
  • You have no bankruptcy on your credit report.
  • You have a history of on-time payments as the primary borrower on any revolving or installment account that is reported to a credit bureau (e.g. student loans, personal loans, car loans/leases, mortgages, credit cards or charge cards).
  • You have no accounts currently in collections.
Factors for Approval
  • You have a history of making payments on time.

Parent Loan

Personal
  • Borrower can be the parent or other credit-qualified individual
  • Borrower must live in the District of Columbia or a state that we lend in (all but NV).
  • Borrower must be the age of majority as defined by your state of residence.
  • Borrower is a U.S. Citizen or possess a 10-year (non-conditional) Permanent Resident Card or are Deferred Action for Childhood Arrivals (DACA) Recipient, or are an Asylee.
Loan
  • Undergraduate or Graduate student is enrolled at least half-time.
  • Student is pursuing a Bachelor’s or Graduate degree.
  • School is a Title IV-qualified, not-for-profit, 4-year institution.
  • You’re requesting a loan of at least $1,000 (residents of Hawaii must request a loan of at least $1,501).
  • Past-due balances up to 365 days prior.
Financial
  • Borrower has a minimum FICO score of 650.
  • Borrower has at least 3 years of credit history.
  • Borrower has minimum income of $35,000 per year (in USD).
  • Borrower does not have a bankruptcy on your credit report.
  • Borrower has a history of on-time payments as the primary borrower on any revolving or installment account that is reported to a credit bureau (e.g. student loans, personal loans, car loans/leases, mortgages, credit cards or charge cards).
  • Borrower does not have any accounts currently in collections.
Factors for Approval
  • You do not carry large amounts of non-student, non-mortgage debt (e.g. credit cards, personal loans).
  • You have a history of making payments on time.
  • You are not regularly charged late, overdraft, or insufficient funds fees.

Explore your options with Earnest

Private Student Loans

Apply on your phone, get set for next semester. Variable rates start at 5.62% APR with autopay.

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Student loan Refinancing

Get one simple payment that fits your budget. Variable rates start at 5.89% APR with autopay.

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