Compare Earnest vs. SoFi Student Loan Refinance

What’s the difference between Earnest Student Loan Refinance and SoFi Student Loan Refinance? See how our editors compare the two companies below.
Last Updated: June 12, 2018
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9.7 / 10 - Excellent
#2 in Student Loan Refinance
9.6 / 10 - Excellent
#4 in Student Loan Refinance

Key Facts

  • Saves you $30,939 on average for student loan refinancing
  • More rates to choose from = more flexibility
  • Earnest has no fees of any kind
  • Unemployment protection
  • Pick your own monthly payment and Earnest matches you with an interest rate and term
  • Get a quick rate estimate in 2 minutes
  • Exceptional customer service for the life of the loan. Call, email or text them anytime
  • Must have at least a 680 FICO Score and $40K income
  • Get pre-approved in 2 minutes
  • Easy-to-use loan calculator
  • As low as 3.40% fixed or 2.63% variable APR with AutoPay
  • Up to 20-year loan terms
  • Career Coaches and Wealth Advisors for SoFi members
  • Get a 0.125% discount on other SoFi loan products


Loan Specifics10/1010/10
Customer Experience10/1010/10
Company Reputation10/109/10

Earnest Loan Specifics

Loan Types
Maximum Loan Amount
The full balance of all qualified education loans
Fixed APR Range
Starting at 3.25%
3.40% to 7.75% APR (with AutoPay)*
Variable APR Range
Starting at 2.57%
2.63% to 7.695% APR (with AutoPay)*
Deferment or Forbearance


Fixed rates from 3.400% APR to 7.750% APR (with AutoPay). Variable rates from 2.630% APR to 7.695% APR (with AutoPay). Interest rates on variable rate loans are capped at either 8.95% or 9.95% depending on term of loan. See APR examples and terms. Lowest variable rate of 2.630% APR assumes current 1 month LIBOR rate of 1.97% plus 0.91% margin minus 0.25% ACH discount. Not all borrowers receive the lowest rate. If approved for a loan, the fixed or variable interest rate offered will depend on your creditworthiness, and the term of the loan and other factors, and will be within the ranges of rates listed above. For the SoFi variable rate loan, the 1-month LIBOR index will adjust monthly and the loan payment will be re-amortized and may change monthly. APRs for variable rate loans may increase after origination if the LIBOR index increases. The SoFi 0.25% AutoPay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. *To check the rates and terms you qualify for, SoFi conducts a soft credit inquiry. Unlike hard credit inquiries, soft credit inquiries (or soft credit pulls) do not impact your credit score. Soft credit inquiries allow SoFi to show you what rates and terms SoFi can offer you up front. After seeing your rates, if you choose a product and continue your application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit inquiry. Hard credit inquiries (or hard credit pulls) are required for SoFi to be able to issue you a loan. In addition to requiring your explicit permission, these credit pulls may impact your credit score.

Earnest Qualifications

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

Earnest Customer Experience

Earnest Company Reputation

Lender Type
Online Lender
Online Lender
Year Founded
BBB Rating
Number of BBB Positive Reviews
Number of BBB Negative Reviews
Date Collected


Terms and Conditions Apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. To qualify, a borrower must be a U.S. citizen or permanent resident in an eligible state and meet SoFi's underwriting requirements. Not all borrowers receive the lowest rate. To qualify for the lowest rate, you must have a responsible financial history and meet other conditions. If approved, your actual rate will be within the range of rates listed above and will depend on a variety of factors, including term of loan, a responsible financial history, years of experience, income and other factors. Rates and Terms are subject to change at anytime without notice and are subject to state restrictions. SoFi refinance loans are private loans and do not have the same repayment options that the federal loan program offers such as Income Based Repayment or Income Contingent Repayment or PAYE. Licensed by the Department of Business Oversight under the California Financing Law License No. 6054612. SoFi loans are originated by SoFi Lending Corp., NMLS # 1121636. (

Company Profile

Full Name
Earnest Student Loan Refinance
SoFi Student Loan Refinance
Company Website
303 2nd Street, Suite 401N, San Francisco, CA, 94107
375 Healdsburg Avenue, Suite 280, Healdsburg, CA, 95448

Final Verdict

Earnest Student Loan Refinance and SoFi Student Loan Refinance are very close in quality and have the same overall rating. That said, Earnest scores better than SoFi across: Qualifications, and Company Reputation. Whereas, SoFi scores better on Customer Experience. Both companies score similarly on Loan Specifics.

Customer Comments & Reviews

Esvin S
Sevierville, Tennessee
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 to get an easy $200 off when your loan is approved. Here is another link of Earnest's info: - Thank you in advance -

Dallas, Texas
SoFi Student Loan Refinance review
I applied and was approved in a timely manner. My interest rate was awesome compared to what I'm at with the Feds. I just now have to decide whether or not I want to give up my rights that the Feds offer with repayment options over the life of the loan.

Jeremy O
Charlotte, North Carolina
SoFi Student Loan Refinance review
Please ignore my last review. I was remarking about another student loan refinance company. SoFi promptly responded to my concern and answered my questions. They (Mitsy) were very prompt and courteous.