SoFi Student Loan Refi vs Earnest Student Loan RefiStudent Loan Refi: Which Is Better?
SoFi and Earnest are both strong-credit direct refi lenders headquartered in San Francisco — but they target slightly different borrower profiles. SoFi competes on member perks and Unemployment Protection; Earnest competes on customizable terms and a 9-month grace period.
The headline differences
On paper these two look similar — same city, same no-fee structure, same fully-online experience. The real differences are in the product. SoFi leans into career coaching, CFP access, and Unemployment Protection — practical safety nets that turn into real money during a career setback. Earnest counters by letting you pick any term in months between 5 and 20 years (instead of fixed 5/7/10/15/20 buckets), giving recent grads a 9-month grace period, and offering an annual skip-a-payment option.
Side-by-side: SoFi Student Loan Refi vs Earnest Student Loan Refi
| SoFi Student Loan Refi | Earnest Student Loan Refi | |
|---|---|---|
| Established | 2011 | 2013 |
| Headquarters | San Francisco, CA | San Francisco, CA |
| Loan types | Federal & private refinance, Variable, Fixed, 5-20 year terms | Federal & private refinance, Variable, Fixed, Custom 5-20 year terms |
| Min credit score | 650 | 650 |
| Variable APR range | Approximately 5.50% – 9.99% APR (with autopay, as of early 2026 — confirm at sofi.com) | Approximately 5.10% – 9.99% APR (with autopay, as of early 2026 — confirm at earnest.com) |
| Fixed APR range | Approximately 5.00% – 9.99% APR (with autopay, as of early 2026 — confirm at sofi.com) | Approximately 4.96% – 9.99% APR (with autopay, as of early 2026 — confirm at earnest.com) |
| Fees | SoFi charges no origination fee, no application fee, and no prepayment penalty. You only ever pay the interest the rate sheet quotes. | Earnest charges no origination fee, no prepayment penalty, and no late fees. The only cost is the interest the rate sheet quotes. |
| Funding speed | Typically 1-3 business days after final document review | Typically 5-10 business days, with a 9-month grace-period option for new grads |
| Customer service | SoFi is consistently rated above the industry average for borrower satisfaction; the website and mobile app are best-in-class for student-loan refi. Some borrowers report longer turnaround on edge-case underwriting questions. | Earnest's website and dashboard are widely praised for clarity. Phone-based service is solid; the company outsources some servicing to a third party post-funding, which occasionally shows up in reviews. |
| Eligibility | U.S. citizen or eligible permanent resident, 18+ in a state where SoFi lends, with a degree from a Title-IV-eligible institution (some non-graduates eligible). Minimum credit profile: ~650 FICO and a steady income. | U.S. citizen or permanent resident, 18+ in a state where Earnest is licensed (most but not all states), with a graduating degree (some exceptions). Minimum profile: 650+ FICO, $35K+ in savings or income trajectory, no recent bankruptcy. |
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SoFi Student Loan Refi
Fully digital online lender with member benefits and career services.
Pros
- ✓No origination fees, no application fees, no prepayment penalty
- ✓0.25% autopay rate discount
- ✓Free SoFi member benefits: career coaching, certified financial planners, networking events
- ✓Unemployment Protection — pause payments up to 12 months if you lose your job
- ✓Soft credit pull for prequalification
- ✓Refis can extend to medical/dental residents and parents (Parent PLUS holders)
Cons
- −Refinancing federal loans into a SoFi private loan permanently forfeits PSLF, IDR plans, and federal forbearance protections
- −Tighter underwriting than marketplace alternatives — moderate credit may not pre-qualify
- −Variable rate caps can be high (~10%+) in stress scenarios
- −Best-rate marketing often requires very strong income and a sub-2-year term
Earnest Student Loan Refi
Underwriting-driven online lender known for granular term customization and strong-borrower rates.
Pros
- ✓No origination fees, no prepayment penalty, no late fees
- ✓Granular term customization — choose any duration in months between the floor and ceiling
- ✓9-month grace period available for recent grads (almost no other refi lender offers this)
- ✓Skip-a-payment option — once a year you can defer one monthly payment without penalty
- ✓Soft credit pull for prequalification
- ✓Underwriting goes beyond FICO to consider savings and income trajectory
Cons
- −Refinancing federal loans into Earnest is permanent — federal IDR/PSLF protections are forfeited
- −Strict on credit and income documentation; moderate-credit borrowers may not approve
- −Doesn't refi Parent PLUS loans into the parent's name (some other lenders do)
- −Not licensed to refi in every state — check the eligibility map first
When SoFi Student Loan Refi wins
SoFi wins for borrowers who view refinancing as the start of a broader financial-services relationship rather than a single transaction. Free certified-financial-planner sessions, career coaching, networking events, and Unemployment Protection are concrete benefits Earnest doesn't offer. SoFi's mobile app and dashboards are also more polished than Earnest's, and SoFi will refi Parent PLUS loans (Earnest won't refi PLUS into the parent's name). If you have a thicker credit file and want the brand-name experience, SoFi is the safer pick.
When Earnest Student Loan Refi wins
Earnest wins when you want to dial in the exact payment that matches your budget — say, an 8-year-3-month term that lines up with a planned career move. Its data-driven underwriting also tends to surface the lowest published rates for borrowers with strong income trajectory, even when traditional FICO is mid-tier. The 9-month grace period is a meaningful benefit for new grads still hunting for a first job, and the once-a-year skip-a-payment is a real cushion almost no other refi lender offers.
Pick the right lender by use case
- Refinancing Parent PLUS loans into the parent's name — SoFi
- Plans to use career coaching or CFP sessions — SoFi members get them free
- Want a 7-year-4-month term to match a planned career move — Earnest
- Recent grad who needs 9 months before first payment — Earnest grace period
The honest middle ground
For most refi shoppers, the right move isn't to pick one lender from a comparison page — it's to soft-pull at least three quotes within the same shopping window and compare APR (which includes any autopay discount) side by side. Use the calculator below to see how even a 0.25% rate difference compounds over a 10-year refi term.
Run your numbers for both quotes
Plug your balance, target rate, and monthly payment into the calculator below to see how each lender's quote would translate into a payoff timeline. Small APR differences compound into real money over a 10-year refi.
Loan details
Principal vs interest
- Principal$35,000
- Interest$12,565
SoFi Student Loan Refi vs Earnest Student Loan Refi FAQ
Is SoFi Student Loan Refi or Earnest Student Loan Refi better for student-loan refinancing?
Neither lender is universally better — they target slightly different borrowers. SoFi Student Loan Refi is best for: Strong-credit borrowers in major metros; Recent grads with a 2-year work history; People who value member perks (career coaching, financial planning). Earnest Student Loan Refi is best for: Strong-credit borrowers willing to provide detailed income and savings docs; Borrowers who want a custom term (e.g., 7 years 4 months); Anyone who values a 9-month payment-pause grace period. The right answer depends on your credit profile, refi balance, and whether you value perks like grace periods, member benefits, or a marketplace's lender competition.
Which has lower student-loan refi rates, SoFi Student Loan Refi or Earnest Student Loan Refi?
Neither always wins on rate. SoFi Student Loan Refi: SoFi consistently appears in the lowest-quartile of advertised refi rates among national online lenders, particularly for borrowers with a strong income relative to their debt. Real, personalized rates after a soft pull may differ — always compare APR including the autopay discount. Earnest Student Loan Refi: Earnest's data-driven underwriting frequently produces some of the lowest published rates for strong-credit, high-income-trajectory borrowers. Borrowers with thinner files may be quoted higher than at SoFi or marketplace partners. The only reliable way to know which lender will price you most aggressively is to pull a soft-credit prequalified rate from each — most refi shoppers should get at least three quotes before locking.
What credit score do I need to refinance with SoFi Student Loan Refi vs Earnest Student Loan Refi?
SoFi Student Loan Refi publishes a minimum credit score of around 650. Earnest Student Loan Refi publishes a minimum of around 650. Real underwriting also weighs income, debt-to-income, and employment stability — borrowers near the published floor often need other strong factors (substantial savings, a clear income trajectory) to qualify at the best advertised rates.
Will I lose federal protections if I refinance with SoFi Student Loan Refi or Earnest Student Loan Refi?
Yes — refinancing federal student loans into any private lender, including SoFi Student Loan Refi or Earnest Student Loan Refi (or any of their partner lenders), is permanent. You will permanently forfeit PSLF, IDR plans (PAYE/SAVE/IBR/ICR), federal forbearance, deferment, and any future federal forgiveness. Private-to-private refinancing doesn't have this risk because there were no federal protections to begin with.
Can I prequalify with both SoFi Student Loan Refi and Earnest Student Loan Refi at the same time?
Yes — both lenders use a soft credit pull for prequalification, which doesn't ding your FICO score. You can collect prequalified offers from multiple refi lenders within the same week without any credit-score impact, then trigger one hard pull only when you're ready to lock with your final pick. This is the single most cost-effective shopping move in student-loan refi.
Are SoFi Student Loan Refi and Earnest Student Loan Refi legitimate student-loan refi lenders?
Yes. SoFi Student Loan Refi has been operating since 2011 (San Francisco, CA); Earnest Student Loan Refi has been operating since 2013 (San Francisco, CA). Both are established, regulated businesses (or marketplaces fronted by regulated partner lenders). The differences come down to product mix, underwriting philosophy, and service style — not legitimacy.
Compare more refi lenders before you lock
The cheapest student-loan refi almost never comes from one quote. Pull at least three soft-pull prequalified offers and pick the lowest APR.
Compare 5+ Refi Lenders
See personalized rate quotes from multiple top student-loan refi lenders in one place.
- ✓Soft credit pull only
- ✓5+ competing rate quotes
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Get Your Rate in 60 Seconds
Modern, fully online refi with a 2-minute application and member benefits.
- ✓100% online application
- ✓Soft pull for prequalified rates
- ✓No fees on most refis
Specialist Refi Lender
A student-loan-only refi lender that consistently posts some of the lowest rates available.
- ✓Student-loan-only specialist
- ✓No application or origination fees
- ✓Flexible 5-20 year terms
Advertiser disclosure: cards above are sponsored. We may earn a commission when you refinance through our partners — at no cost to you. Compensation does not influence which lenders are shown.
More lender comparisons
SoFi is a single direct lender with one of the most substantive member-benefit programs in fintech. Credible is a marketplace that surfaces real prequalified offers from 5+ refi lenders in one form. The right pick depends on whether you want a single relationship or want lenders to compete in real time.
Read comparison →Credible is a marketplace that maximizes lender competition; ELFI is a specialist direct lender that consistently posts some of the lowest fixed rates for top-tier borrowers. The smart shopper usually quotes both.
Read comparison →Earnest and ELFI both consistently post some of the lowest student-loan refi rates for strong-credit borrowers — but they get there differently. Earnest leans on holistic underwriting and granular term customization. ELFI leans on a specialist focus and a dedicated-advisor model.
Read comparison →SoFi is a direct lender with industry-leading member perks. Juno is a group-buying platform that negotiates exclusive partner-lender pricing for its members. Many borrowers use both — SoFi for the apples-to-apples direct quote, Juno for the rate edge.
Read comparison →Credible is a marketplace that surfaces real prequalified offers from 5+ refi lenders. Earnest is one direct lender, often featured on the Credible network — known for granular term customization and a 9-month grace period for new grads.
Read comparison →