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Earnest Student Loans vs SoFi Student Loans

Earnest is a merit-based lender with custom terms. How does it compare to SoFi? Read our comparison chart below.

Earnest sets itself apart by taking a more personalized approach to lending. Instead of just looking at your credit score, Earnest also considers your job, savings habits, and how you handle finances. It offers flexibility in payments, with the option to switch between fixed and variable rates. You also can skip a payment every 12 months without penalty. Minimum $5,000 in loans to be eligible.

While SoFi is one of the largest student loan refinancing providers. It refinances both federal and private loans, as well as Parent PLUS loans. It offers loan terms from 5 to 20 years. One unique benefit is that SoFi offers complimentary career coaching to borrowers out of work. Minimum $5,000 in loans to be eligible.

Compare Earnest with SoFi, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.

 Earnest Student LoansSoFi Student Loans
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Earnest Student Loans

SoFi Student Loans

Refinance Student Loans - Learn More

Read Earnest Review

Refinance Student Loans - Learn More

Read SoFi Review


Benefits and Features

Variable APR2.05% - 6.49% (includes 0.25% autopay discount)2.140% to 7.944% APR (with AutoPay).
Fixed APR3.45% - 6.99% (includes 0.25% autopay discount)3.460% to 7.944% APR (with AutoPay)
Minimum Amount
Maximum Amount
No maximum
Loan TermCustom term from 5 to 20 years (180 term options)
5 to 20 years
State ResidencyMost states with the exception of: DE, KY, and NV and no variable rate loans to residents of: AK, IL, MN, NH, OH, TN and TX
All states eligible
Degree Requirements
Associates or higher
Associates or higher
Income Requirements
Employment RequirementsMust be employed or have an offer for a position to start within 6 monthsMust be employed or have an offer to start within 90 days
Interest Only Payments
Origination Fees
Prepayment Penalty
Can Use a Cosigner
Can Release a Cosigner
Only on existing loans
Auto-Pay Interest Rate Reduction
Soft Credit Check
Unemployment Protection

CreditDonkey® Reviews

 Earnest Student LoansSoFi Student Loans
Customer Service
Loan Term
Ease of Use
Interest Rates
Payment Flexibility
Pros & ConsPros:
  • Looks beyond your credit score
  • Custom term based on budget
  • Option to skip one payment every 12 months
  • Tougher requirements
  • No co-signer option
  • Keep federal grace period
  • Refinance Parent Plus loans
  • Must have great credit score
Bottom LineMerit-based lender with custom terms... Read full reviewGood option if you have a great credit score... Read full review
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Refinance Student Loans

Refinance Student Loans

 Terms Apply. SoFi Disclaimers
What Others View

    Earnest: Pricing information from published website as of 10/11/2019

    SoFi: Pricing information from published website as of 9/10/2019

    Which is Better: Earnest or SoFi?

    Still need help deciding which student loans is better? Read the in-depth reviews below. You may also be interested in comparing Earnest or CommonBond.

    Articles on Earnest Student Loans

    Articles on SoFi Student Loans


      Is student loan refinancing a good idea? Is SoFi legit? Is NOW a good time to refinance? Read on. The answers may surprise you.

    Which Do You Think is Best?

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    CreditDonkey is a student loan comparison website. We publish data-driven analysis to help you save money & make savvy decisions.

    Editorial Note: Any opinions, analyses, reviews or recommendations expressed on this page are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

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