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Student Loan Comparison Worksheet
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Make a copy of this worksheet to compare your student loan options! Go to File > Make a copy and save it to your Google Drive.
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WhatEarnest Private Student LoanOther lender 1Other lender 2Other lender 3
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ELIGIBILITY
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Is there an eligibility check?✅ Yes, get started here.
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Cosigner needed?It depends. For a no-cosigner, independent loan, the student would need to have sufficient credit history, a good credit score, and over $35k per year in income. That means most undergrads end up using a cosigner.
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⭐Minimum credit score650
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⭐Minimum income$35,000 (for the parent/cosigner)
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⭐Other eligibility requirements (e.g. for citizenship, full-time/part-time school, four-year vs. two-year degrees, etc.)STUDENT
• US citizen or Permanent Resident
• Getting a Bachelors or Masters degree
• Enrolled at least half-time
PARENT/ COSIGNER
• US citizen or Permanent Resident
• Residing in a US state other than Nevada
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BASIC LOAN TERMS
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Is there a rate check for private student loans? ✅ Yes, you can do it via Going Merry here.
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⭐Interest rate offered for private student loansVaries - but currently between 4.67% - 16.15% APR (fixed) or 5.64% - 16.76% APR (varied). Rates exclude the 0.25% Auto Pay Discount. Get a personalized rate quote here, in just 5 minutes, with no impact to your credit. [1] [6]
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Fixed/variable interest rateEither - You can choose.
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Max amount I can borrowUp to the full cost of attendance, minus any scholarships/grants you already received
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⭐Any fees? (origination, administration, disbursement)None
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Repayment term (options, e.g. 10-year, 15-year)Your choice of anything from 5 to 15 years. [7]
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⭐In-school payment terms
(Can I defer payments until after I graduate?)		Your choice - You can fully defer all payments OR make some (small, fixed or interest-only) payments while in school. [4]
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⭐Post-graduation grace period?9 months - Higher than the industry standard of six months [3]
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PERKS & DISCOUNTS
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⭐Discount for AutoPay (setting up automatic debits from bank account)?✅ Yes! Get 0.25% off your interest rate, for setting up AutoPay. [1]
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⭐Rate match? (If I find a better rate elsewhere, will you match it?)✅ Yes! Earnest has a rate match program. Learn more about it here. [2]
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Any other benefits associated with the loan?Ability to skip one payment per year [5]
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PENALTIES
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Prepayment penalty?None
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Payment flexibility: What relief do you provide if I lose my job? Can I miss any payments without penalty? (If not, what is the penalty for missing a payment?)Earnest offers several options for qualified customers, including skip-a-payment, forbearance, and short-term interest-only payments. [5]
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TOOLS, SUPPORT & RATINGS
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⭐Good online reviews4.8 stars on Trustpilot
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Guided loan-application-by-phone option?Yes! You can call Earnest customer support, if you need help filling out your loan application.
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Loan calculators to figure out payment structure?Yes! Find one here.
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User-friendly website / mobile app?Earnest is a tech-forward company, with a great, easy-to-use loan application.
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Brought to you by Going Merry by Earnest
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