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  3. Earnest vs. LendKey

Compare Earnest vs. LendKey Student Loan Refinance

What’s the difference between Earnest Student Loan Refinance and LendKey Student Loan Refinance? See how our editors compare the two companies below.
Last Updated: March 28, 2024
Earnest
4.7 / 5 - Excellent
#3 in Student Loan Refinance
VIEW RATES
LendKey
4.1 / 5 - Excellent
no_rank
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Key Facts

  • Rates based in part on your earning potential
  • Loan amounts between $5,000 and $500,000
  • Customizable payments, including skipping one payment per year
  • Zero fees of any kind
  • Get pre-approved quotes from credit unions and small banks
  • Rates start at 1.99% APR (variable) and 6.61% APR (fixed)
  • Reduce your rate by 0.25% when you sign up for automatic payments
  • No application or origination fees
  • BBB-accredited and rated A+
  • All loans serviced in-house; no handoffs to other lenders
  • COVID-19 hardship forbearance for up to 18 months (varies by lender)
  • Free Career Assistance powered by NextJob for all existing borrowers
More Details >
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OVERALL RATINGS

 EarnestLendKey
Loan Specifications4.8/54.0/5
Eligibility Requirements4.5/54.3/5
Customer Experience4.5/54.0/5
Reputation4.8/54.3/5

Earnest Loan Specifics

 EarnestLendKey
Loan Types
Undergraduate
Graduate
Parent
Federal
Private
Undergraduate
Graduate
Federal
Private
Maximum Loan Amount
$500,000
Terms
5
10
15
20
5
7
10
15
20
Rates
Fixed
Variable
Fixed
Variable
Fixed APR Range
5.19% - 9.74% APR (includes 0.25% autopay discount)
6.61% APR - 10.68% APR
Variable APR Range
5.72% - 9.74% APR (includes 0.25% autopay discount)
1.99% APR – 8.57% APR
 EarnestLendKey
Deferment or Forbearance

*

Clients must reside in the District of Columbia or one of the 49 states Earnest operates in (all but Nevada). Earnest does not offer variable rate loans in AK, IL, MN, NH, OH, TN, and TX.

Earnest Qualifications

 EarnestLendKey
Citizenship Requirement
U.S. Citizen
U.S. Citizen
Permanent Legal Resident
Minimum Credit Score
650
Income Verification
Degree Required
Positive Repayment History

Earnest Customer Experience

Earnest Company Reputation

 EarnestLendKey
Lender Type
Online Lender
Marketplace
Year Founded
2013
2009
 EarnestLendKey
BBB Rating
A+
A+
Number of BBB Positive Reviews
2
0
Number of BBB Negative Reviews
4
3
Trustpilot Rating
4.7 out of 5
4.5 out of 5
Date Collected
2023-10-06
2018-04-04

Disclaimer

Company's Disclosure

Actual rate and available repayment terms will vary based on your income. Fixed rates range from 5.44% APR to 9.99% APR (excludes 0.25% Auto Pay discount). Variable rates range from 5.97% APR to 9.99% APR (excludes 0.25% Auto Pay discount). Earnest variable interest rate student loan refinance loans are based on a publicly available index, the 30-day Average Secured Overnight Financing Rate (SOFR) published by the Federal Reserve Bank of New York. The variable rate is based on the rate published on the 25th day, or the next business day, of the preceding calendar month, rounded to the nearest hundredth of a percent. The rate will not increase more than once per month. The maximum rate for your loan is 8.95% if your loan term is 10 years or less. For loan terms of more than 10 years to 15 years, the interest rate will never exceed 9.95%. For loan terms over 15 years, the interest rate will never exceed 11.95%. Please note, we are not able to offer variable rate loans in AK, IL, MN, NH, OH, TN, and TX. Our lowest rates are only available for our most credit qualified borrowers and contain our .25% auto pay discount from a checking or savings account.

Company Profile

Full Name
Earnest Student Loan Refinance
LendKey Student Loan Refinance
Company Website
https://www.earnest.com/
https://www.lendkey.com/
Headquarters
535 Mission St., Suite 1663, San Francisco, CA, 94105
104 West 27th Street, 4th Floor, New York, NY, 10001

Final Verdict

Earnest Student Loan Refinance has a higher overall rating than LendKey Student Loan Refinance. Earnest scores better than LendKey across: Loan Specifications, Eligibility Requirements, Customer Experience, and Reputation.

Customer Comments & Reviews

marjolenen
9/17/2020
Earnest Student Loan Refinance review
I refinanced my private student loans through Earnest and my interest rate dropped from 8.5% to 3.5%. Earnest also offers a referral program: You can earn a $200 bonus when you refinance your student loan via Earnest! Just go to earnest.com/invite/marjolene and get your $200 after you complete the refinancing process. Hope this helps!

ccooper159
6/18/2020
Earnest Student Loan Refinance review
I used Earnest to refinance my loans to a lower rate. Great company. I would use them again. You can chat online to answer questions. You can customize your payment. Pay monthly or every 2 weeks. Apply extra payment to next month or towards the principal. The response from the team is always fast and helpful.

D
Drew H
10/2/2017
LendKey Student Loan Refinance review
Great rates! Good website. Easy to understand and navigate. Fast and helpful customer service too.

Esvin S
8/11/2017
Earnest Student Loan Refinance review
(Earnest - College Debt Consolidation) The application process is easy. Although mine took a bit longer than expected so make sure to call them to check on your application status if you suspect it is taking longer than usual (a couple days to a week to respond with approval/denial/requesting more information. Also, definitely use my referral code https://www.earnest.com/invite/esvin to get an easy $200 off when your loan is approved. Here is another link of Earnest's info: https://www.nerdwallet.com/blog/loans/student-loans/earnest-student-loan-refinance-flexibility/ - Thank you in advance -

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Credible
4.5 / 5 - Excellent
#1 in Student Loan Refinance
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