The experience seemed more personal, and they staff and customer service I had received from the staff with online interactions was excellent.Always prompt with replies and seemingly happy to help.Earnest made it very easy to borrow and I ended up with a lower interest rate. By creating a vehicle to sensibly Refi student loans, They have become the modern antidote to the excessive corruption and abuses led by Sallie Mae's former monopoly and it's unethical and extortionist practices.Also, they make it very easy to understand the details of your loan.
I was able to choose the amount I wanted to pay each month, extending the timeframe for the loan by a few months in order to pay a little less, or shortening the timeframe if I wanted to pay more.Icing on the cake was that each Earnest rep I spoke with was pleasant and knowledgeable.A big part of being financially responsible is organization. I can make an extra payment through that very easily.It's like a burden has been lifted off my shoulders! Rates and terms of very competitive and have reduced the overall amount I have to repay.What makes Earnest shine are all of the configuration options throughout the lifespan of the loan.For example, you can have a payment be pulled every two weeks which matches up with a paycheck, you can increase your payments or decrease your payments, and all information is very easy to use and access. Earnest has made it really simple to refinance my student loans.The whole process was online with one phone call to verify my identity.When you refinance multiple loans, the lender will evaluate your current financial profile to provide a rate that reflects your financial progress since you originally took out the loans. I had tried on numerous attempts to refinance my student loans and every time there was some excuse by the loan company regarding credit history, or amount to refi, or that I hadn't completed my degree.Whereas consolidation just streamlines bills, refinancing also shrinks them. I had never had the opportunity to explain myself, not that I need to because my life fell the way it did for a reason, but always thought having that option may help.Consolidating student loans does not affect the amount of interest you pay—it just simplifies your payments.Refinancing student loans, on the other hand, is a step beyond consolidation.