Negotiated Refi Deal

After carefully evaluating 7 bids, we found that Earnest provided the most value to LeverEdge Members.

Earnest is offering, for the first time ever, a rate reduction below their already low rates.

0.25% Exclusive Rate Reduction

0.25% Exclusive Rate Reduction

Access the Negotiated Deal

LeverEdge asked for information from each lender to estimate the rates and terms that each member could reasonably expect to receive if the lender was selected. Once lenders submitted the necessary information, we developed a model to evaluate:

  • How many members would receive an offer that would be better than their best alternative in the market?
  • How much each member could save and what does the distribution of those savings look like?
  • How much the total group would save?

We are unable to share the actual bids we received or the names of the lenders that submitted bids. Fewer lenders would be willing to submit bids in the future if we were to reveal the names of the lenders that did not win. Secondly, we sign non-disclosure agreements with most lenders and the proposals from lenders are typically confidential information.

LeverEdge'd Rates

LeverEdge Members receive an exclusive rate reduction of 0.25% compared to borrowers who directly go to Earnest.

The specific rate you receive will depend upon a wide range of factors. Our analysis of each lender's bid suggests Earnest's rates will be the best for a large share of LeverEdge Members.

Variable rates starting from 2.16%
Fixed rates starting from 3.11%

Rates include auto-pay discount and LeverEdge Member discount

Access the Negotiated Deal

How Earnest Rates for LeverEdge Members Compare

We expect the vast majority of LeverEdge Members will receive the best rates from the LeverEdge + Earnest partnership.

Rates Starting At Fixed Variable
Earnest + LeverEdge 3.11% + 2.16% +
Earnest 3.36% + 2.41% +
SoFi 3.49% + 2.43% +
CommonBond 3.69% + 2.46% +
WellsFargo 3.99% + 3.75% +
Credible 3.39% + 2.80% +
Citizens Bank 3.89% + 2.93% +
EDvestinU 4.53% + 4.51% +
ELFI 3.39% + 2.80% +
PenFed 3.87% + 3.05% +
Access the Negotiated Deal

The information above was compiled for the following sources:

  • Earnest rates based on information provided by Earnest to LeverEdge
  • SoFi rates from here: on 6/13/2019 at 4:43pm
  • CommonBond rates from on 6/13/2019 at 4:43pm
  • WellsFargo rates from on 6/13/2019 at 4:43pm
  • Credible rates are from on 6/13/2019 at 4:49pm
  • Advatnage Education Loan rates are from on 6/17/2019 at 11:41am
  • MEFA rates are from on 6/17/2019 at 11:41am
  • PenFed rates are from on 6/17/2019 at 11:41am
  • RISLA rates are from on 6/17/2019 at 11:41am
  • Citizens rates are from on 6/17/2019 at 11:37am
  • EDvestinU rates are from on 6/17/2019 at 11:39am
  • ELFI rates are from on 6/17/2019 at 11:42am
  • Rates posted here include auto pay discount but do not include any relationship discounts
  • Please check with the respective lenders for accuracy of the information presented here

Additional Benefits of Refinancing with Earnest

Two Minute Rate Check

LeverEdge Members can get a rate estimate in under 2 minutes, which won't affect their credit score or put them under any obligation.

Precision Pricing

Choose the loan term and monthly payments that fit your needs. No need to select from pre-determined options like 5, 7, or 10 year loans.

No Fees

Earnest has no prepayment, origination, disbursement, or other fees. You have the freedom to pay down your loan faster than the repayment schedule.

In-House Customer Service

Earnest services their own loans. LeverEdge Members have access to their on-site customer support team for the life of their loan.

The LeverEdge Calculator

If you have been shopping around, you can use our calculator to compare different offers that you have received including the negotiated deal from Earnest.

Compare your refinance options

Option Details

Option Interest Rate Loan Term Monthly Payment Total Payments
Enter your first option to see more information

Features of the Negotiated Loan

0.25% exclusive rate reduction for
LeverEdge Members
0.25% rate reduction for auto-pay
No application or origination fee
No early repayment penalty

Frequently Asked Questions

While you can save money by refinancing your federal loans with a private loan, you should keep in mind that you maybe giving up flexible repayment plans like Income Based Repayment and programs like public service loan forgiveness. We think Student Loan Hero does a good job of laying out the trade offs between keeping a federal loan and refinancing with a private loan. You can read their article here.
In the unfortunate event of death or total and permanent disability, Earnest will discharge the student loan.
You can learn more about Earnest's Forbearance policy here.
Need a response from Earnest. Do they get it right from the first one if they opt for it during the sign-up flow?

Eligibility Requirements

Based on the surveys of LeverEdge Members in the Spring 2019 Refinance Negotiation Group, we believe that a vast majority of LeverEdge Members meet the eligibility criteria for Earnest Refinance loans. The following information has been copied from: for your convenience.


  • You are a U.S. citizen or possess a 10-year (non-conditional) Permanent Resident Card.
  • 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 47 states we lend in (all but Delaware, Kentucky, and Nevada). *Please note, we are not able to offer variable rate loans in AK, IL, MN, NH, OH, TN, and TX.
  • You are at least 18 years old


  • 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.
  • You are requesting to refinance at least $5000 in student loans.
  • You are not requesting to refinance an existing Earnest loan without at least 6 months of on-time payments.


  • You have a minimum credit score of 650.
  • You are employed, have a written job offer for a position that starts within 6 months, 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.