I refinanced my student loans with Earnest more than a year ago and, now that we're expecting our first baby, we refinanced a second time. PLUS - the rates offered were easily the best of all the competitors (and I checked). I had been trying to consolidate my federal and private loans for years, at least 8 to be exact, and until I found Earnest it was impossible to do so.
I appreciate all that Earnest has done for my family. Many refinancers didn't want to consolidate federal and private, many others had a much longer application process and their interest rates did not come close to what Earnest could offer me.
Consolidating student loans does not affect the amount of interest you pay—it just simplifies your payments.
Whereas consolidation just streamlines bills, refinancing also shrinks them. The entire process from quote to signing and setting up my automatic payment.
They ask for a lot of information from you but it's worth putting the time in to get the consolidation completed and it assures you that your information is being protected. I like being able to see the amount of interest accrual since last payment and principal balance easily on the first page and that is not possible now on the current web page. Why not strive to offer your customers the best deals instead of making them jump through hoops to re-apply for a much better rate?
I was able to complete almost the entire process online. Everything from submitting an application, the communication process, deciding on my loan options, and closing. Even re-applying was a pain as it didn't link up to your own system.
They took care of everything and made the transfer of my student loan easy and flawless. Each time my response was received complete and timely. I was in the trenches for quite some time before I came across Earnest.
I love, love, LOVE that Earnest has biweekly payment options so that I can align payments with my paydays! A few of the other bigger named consolidation service providers wouldn't work with me since my smaller named college wasn't in their databases.