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Earnest Operations | 8B Lender Review

Earnest Operations | 8B Lender Review

Earnest Operations offers some loans to international students who want to customize their repayment schedule to pay off debt fast. Learn more.
Earnest Operations | 8B Lender Review

Earnest is an online lender that provides private student loans and student loan refinancing to undergraduate and graduate students. Borrowers have the option of choosing their own loan terms. Students who are not U.S citizens or Deferred Action for Childhood Arrival (DACA) may be eligible for an Earnest loan if they apply with a creditworthy cosigner who is a U.S. citizen or permanent resident. Earnest doesn't charge application, origination or late fees.

Earnest Operations Logo

Earnest Eligibility Requirements

To qualify for an international undergraduate or graduate student loans must have a cosigner. Co-signed loans require:

  • The co-signer to have a minimum of a three-year credit history
  • Have at least $35,000 in annual income.
  • Both the co-signer and the student cannot have any bankruptcies or accounts in collections.
  • The lender will also consider whether you have a history of making payments on time, avoiding overdraft and insufficient funds fees, not taking on a large amount of credit card debt and spending less than you earn.

International Student Loans From Earnest

To qualify for Earnest Operations student loans, international and DACA students must have a U.S citizen or resident cosigner. Here are some features of Earnest Operations loan to consider as you do your research. 

  • Loan Amounts: $1,000 up to the total cost of attendance
  • Repayment Terms: 5 to 20 years (customizable down to the month)
  • Cosigner release: Available, varies by case
  • Discounts: 0.25% interest rate reduction for automatic payments 
  • Forbearance: Postpone payments in three-month increments, for up to 12 months total
  • Loan discharge: Earnest will discharge (waive) loan balance if a borrower becomes permanently and totally disabled.

Types of International Student Loans Offered by Earnest Operations

  • Undergraduate Private Student Loans: Fixed APR starting at 2.94% (with autopay discount*) and variable APR starting at 0.99% (with autopay discount*)
  • Graduate Private School Loans: Fixed APR starting at 2.94% (with autopay discount*) and variable APR starting at 0.99% (with autopay discount*)
  • MBA Loans: Fixed APR starting at 3.49% (with autopay discount*) and variable APR starting at 1.05% (with autopay discount*)
  • Medical School Loans: Fixed APR starting at 3.49% (with autopay discount*) and variable APR starting at 1.05% (with autopay discount*)
  • Law School Student Loans: Fixed APR starting at 3.49% (with autopay discount*) and variable APR starting at 1.05% (with autopay discount*)
  • Student loan refinancing: Fixed APR 2.44% to 5.79% (with autopay discount*) and variable APR 1.74% to 5.64% (with autopay discount*)

Best Features of Earnest Operations Loans

  • Prequalification without a hard credit check that won’t affect your credit score
  • Eligibility determination doesn’t depend solely on credit score. They also consider your saving patterns, employment history, career growth potential, and 401(k) balance to offer you a personalized rate
  • Customizable repayments and terms
  • You can skip one payment every 12 months
  • There are no fees charged, even for late payments

Repayment Options

Earnest offers customizable repayment timelines, based on desired monthly payment amount. The repayment terms are set in 1 to 3 month increments within the five-to-20 year repayment term, providing up to 180 different repayment options. 

Earnest offers four different in-school repayment options and a 9-month grace period after graduation. Borrowers can request to skip one payment per year after making at least six on-time payments. 

Borrowers who sign up for autopay can benefit from a 0.25% interest rate reduction. 

How to Apply for a Student Loan from Earnest Operations

Answer a few simple questions about your desired loan amount and finances online to quickly find out loan rates and terms.  

If you decide to proceed with the application process, you can do it quickly and easily online. Private student loans have an eligibility check and student loan refinances have a rate check.

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