Earnest Disclosures

Student Loan Refinancing

Earnest fixed rate loan rates range from 3.19% APR (with Auto Pay) to 5.99% APR (with Auto Pay). Variable rate loan rates range from 1.99% APR (with Auto Pay) to 5.99% APR (with Auto Pay). The starting interest rate you pay will be determined after you apply. It will be based on your credit history and other factors. If approved, we will notify you of the rate you qualify for within the stated range. For fixed rate loans, upon approval, your interest will never change during the life of your loan. For variable interest rate, your variable interest rate is based on a publicly available index, the one-month London Interbank Offered Rate (LIBOR) published in the The Wall Street Journal on the twenty-fifth day, or the next business day, of the preceding calendar month. Your rate will be calculated each month by adding a margin between 2.06% And 6.30% to the one-month LIBOR. The rate will not increase more than once per month. The maximum rate for your loan is 8.95% if your loan term is 10 years or less. For loan terms of more than 10 years to 15 years, the interest rate will never exceed 9.95%. For loan terms over 15 years, the interest rate will never exceed 11.95%. Clients must reside in the District of Columbia or one of the 48 states we lend in (all but Kentucky and Nevada). Please note, we are not able to offer variable rate loans in AK, IL, MN, NH, OH, TN, and TX.

Autopay Discount

If you make monthly principal and interest payments by an automatic, monthly deduction from a savings or checking account, the Variable Rate will be reduced by one quarter of one percent (0.25%) for so long as you continue to make automatic, electronic monthly payments. This benefit is suspended during periods of deferment and forbearance.

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