Earnest Reviews

3.4 out of 5 stars
13 Reviews

From Borrowers in the last year

ADDITIONAL RATINGS YOU MIGHT FIND HELPFUL

Application Process

4 out of 5 stars

Customer Service

4 out of 5 stars

3.5 5

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Most Helpful Positive Review

Jun 23, 2018
Dropped my interest from 10% to 5%
Anonymous Borrower

Great service, got all my questions answered via txt. Their representative was VERY patient as I am very suspicious of banks and loan companies especially when they request the info that Earnest does. They ask for sensitive info but it's in order to get a more holistic financial view. They don't base your approval on dept to income ratio and credit score alone. (tip: don't forget to list your 401k if you have one) They let you pick how much you can pay a month which is a major plus. You can pay extra if you wish, or you can split your payment between two paychecks. I can only describe their relationship with the borrower as "healthy", they get paid but they also help you out they release a newsletter that gives you tips on retirement, financial health, and how to pay your loans off faster. I will note I make $15.00/hr and my credit score is 740. 

An added bonus is if you get someone else to sign up they give you both $200.

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Most Helpful Negative Review

Jan 23, 2019
Easy to sign up, terrible support after
scubadiver218 Borrower

I signed up with Earnest because I was referred by a friend. It was incredibly easy to get signed up and I was given options to choose from based on length of term and rates depending on that time. I felt supported when I called the team to answer a question and even ended up referring my sister to join. 

6 months later I doubt I will refer anyone to earnest again. My major pain point was they switched everything after I joined. You can no longer make biweekly payments and you can't even choose any day of the month that you want to pay. When I signed up, I chose the 27th because I get paid monthly on the 26th. Then in November they forced anyone within a certain window to choose a new date or they would do it for you. They bumped my date back by almost a week and I had to pay the extra interest that accrued during that time, because the payment was later than normal. There app & website has been "under construction: for months, with no sign of being updated any time soon. The tax forms are completely burried in the site and hard to find, and again they didn't send an email (that they said they would) when they posted those forms to the site. They are impossible to get in touch with via email or on the phone. Honestly, it seems like they are a young company (even though they are under navient?) and they are working out the kinks, without taking care of their customers. Even if their rates are better than others you are seeing, I would seriously encourage you to look into more established loan companies. 

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These reviews were written by current and former borrowers in the last year.

Mar 06, 2019
Easy, fast, pretty excellent really.
Ebrady614 Borrower

I keep seeing all of these negative remarks because they took certain pay options away? Are you kidding me? You're giving a company a 1-star rating because you're too irresponsible to save the amount you owe every single month? Really? Honestly, I couldn't have had a better experience so far. I don't have the best credit, it's not bad and it's not great. I was paying 13% interest on a 44,000 Sallie Mae loan who refused to help me at all. Earnest was able to take everything into consideration when approving me. My pay, my career as a nurse and my credit history. They looked at the whole picture. They cut my payment from 800 dollars to 400, approved the amount I needed and are saving me nearly 100k in interest to Sallie Mae. I honestly have never had a better experience. I might be too early with this comment but any place that allows students who have pretty bad credit to refinance for half the interest while lowering payments, who approve you in a week is an A+ in my book. Sure, they are making money off of me, but they don't pretend they aren't a business and they don't trap desperate students into impossible interest rates and threaten to sue them. My greatest satisfaction is knowing that disgusting company isn't going to make any more interest off my loans with them. 

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1 Reply
Apr 03, 2019

Thank you for your honest and informative comment. I agree with you. I know it can be disappointing when loan companies changes terms of loans. But this can happen with any loan company. Take it from me I worked in this industry for 25 years. If this is the worst thing people have to say about this company, sounds like a good company to go with. But it does sound like they need to get a user-friendly online system. Once again thank you for your informative review, it does help and making a decision

 
Jan 23, 2019
Easy to sign up, terrible support after

I signed up with Earnest because I was referred by a friend. It was incredibly easy to get signed up and I was given options to choose from based on length of term and rates depending on that time. I felt supported when I called the team to answer a question and even ended up referring my sister to join. 

6 months later I doubt I will refer anyone to earnest again. My major pain point was they switched everything after I joined. You can no longer make biweekly payments and you can't even choose any day of the month that you want to pay. When I signed up, I chose the 27th because I get paid monthly on the 26th. Then in November they forced anyone within a certain window to choose a new date or they would do it for you. They bumped my date back by almost a week and I had to pay the extra interest that accrued during that time, because the payment was later than normal. There app & website has been "under construction: for months, with no sign of being updated any time soon. The tax forms are completely burried in the site and hard to find, and again they didn't send an email (that they said they would) when they posted those forms to the site. They are impossible to get in touch with via email or on the phone. Honestly, it seems like they are a young company (even though they are under navient?) and they are working out the kinks, without taking care of their customers. Even if their rates are better than others you are seeing, I would seriously encourage you to look into more established loan companies. 

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Jan 14, 2019
Lured me in and changed everything

I began shopping for loans because I was tired of my payment always changing with the government. The number one reason I chose earnest over other offers was the ability to make payments every 2 weeks. I got a decent interest rate and took the loan. The website was easy to use and I was able to adjust things as needed. Now a few months in they have taken away the ability to split payments and everything on the website is more difficult to use. You now have no control. 

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Nov 26, 2018
Student loan and personal loan

I've had a student loan with Earnest for 8 months. At first it was great. You could delay your payment online with a few clicks. You could pay bi-monthly. It was so simple, until everything went dark. The whole website was out of commission for a while where you couldn't access anything. I made a payment but the website told me my loan was past due so I made another payment (thinking I had no made the first / there is no way to view previous payments) and it withdrew two payments from my bank account and caused me to overdraft.

The new Dashboard SUCKS. I cannot figure out why they changed it. I also just applied for a personal loan and shall see how that goes. They do keep asking me for old things I no longer have like a paystub from an old job and a statement from a savings account I don't have. I keep telling them I don't have them but they keep asking for it. So annoying.

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Nov 19, 2018
DCPA Borrower

Competitive interest rates and an easy application process make this company attractive upfront. However, customer service and the online user dashboard have both deteriorated significantly since I first refinanced in 2016. I plan on refinancing with a company that is more responsive and appreciative of their customers. 

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Nov 03, 2018
Awful
Vigil1993 Borrower

While the process to apply for and obatain a student loan refinance was easy and straight forward, the customer service and support for customers/clients is terrible.  After making two calls to their so called Clent Happiness Team and being placed on hold for several minutes, my issues are still not resolved.  And Earnest's new website and systems are rife with errors and no processes work.  I am very dissappointed after being with then for just about two months.  Starting to  think this was a HUGE mistake

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Sep 20, 2018
Unreliable
Hetbar Borrower

We refinanced 100k of student loans only to have them change their loan payment options. We were using their auto pay that rewards you with a loan rate discount and doing bimonthly payments. The advantages of this are you pay less interest and can pay you loan of years early. This was the main reason besides the rates that we switched loan companies. Now they won’t allow you to do biweekly payment ! This is huge and in my opinion I would never use them again. So sad I called and they couldn’t do anything and couldn’t even promise not to change they loans “perks” as they called it in the future. 

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Sep 08, 2018
Pbfr112 Borrower

The loan application was easy and quick. I was approved shortly after applying. The money was deposited in my account the day after approval. 

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Sep 08, 2018
Pbfr112 Borrower

The application process was easy and went quickly. My loan was approved shortly after applying. The funds came by direct deposit the day after my approval. 

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