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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 applied for school loan refinancing with Earnest and got the best interest rate possible, because they didn't just look at one thing in order to determine it.

Whereas consolidation just streamlines bills, refinancing also shrinks them. You have to give a lot of financial info which is a little unsettling, but it makes sense.

First of all, customer service is top notch and very efficient. This ended up saving me an entire YEAR of additional payments. When I expressed my concerns, Jenny, from Earnest replied quickly to my e-mail with information regarding the policy at Earnest (same as Federal), and was very friendly, even through e-mail.

So in the long run, I saved more money with Earnest. I felt like any question or concern was valid, and would be answered promptly and thoroughly.

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).

I had an Earnest loan previously, loved the experience, and chose to refinance with them again at a better interest rate after a year. And Earnest was willing to change my loan accordingly. I was surprised at how simple and fast the process was.

I had a few issues before and after getting my loan approved and in both cases, the customer support team was very responsive and helpful. Earnest approved my loan refinance, when another company did not. I believe the interest rate could have been a little lower, but it's still better than my original percentage.

The application process took longer than I expected, as they needed additional information from me.

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.

I had a few questions that Earnest was able to answer through text or email, which is very convenient! I started my refinance project with a competing lender (rhymes with Lo Hi) and wish I would have skipped them altogether. Glad I came to Earnest, who recognized and rewarded my creditworthiness that I've worked hard to achieve.

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