Consolidating student loans with different interest rates
Student loan consolidation is the process of unifying several loans with different rates and terms into a single loan with a single payment.The blended interest rate is determined by calculating the weighted average interest rate of the original loans (meaning higher balance loans have greater impact).Our data-driven evaluation of your full financial profile gives us the ability to offer qualified borrowers lower, more personalized rates than traditional lenders can.
If I hadn't already invested so much time and energy in my Earnest account I would definitely be taking my business elsewhere, and am considering doing so regardless. I don't think there was so much as an email conversation needed, it was all laid out in front of me and I love the payment amount slider. Once you’re approved, you are automatically approved for the total eligible student loan amount listed on your credit report.I just re-financed with Earnest and they have been great so far!My only complaint is that you can't apply an extra payment throughout the month to the principal only.I use the app and auto-pay, which makes everything simple and easy to find. The process to refinance seemed a bit daunting prior to coming to Earnest.With Earnest the process was easy, very thorough and I was informed of the next steps all along the way.