Earnest vs SoFi
An honest side-by-side comparison of two of our top student loans picks — pricing, strengths, weaknesses, and who each one is really for.
Earnest
Ranked #3 of 15 in this directory
Student loan refinancing with precision pricing and flexible payments
SoFi
Ranked #4 of 15 in this directory
Student loan refinancing with career support and no fees
Our pick: Earnest. Our editors rank Earnest higher overall in Student Loans — but SoFi can be the better fit depending on your budget and use case below. How we review
Compare the details
| Earnest | SoFi | |
|---|---|---|
| Pricing model | Paid | Paid |
| Starting price | See website | See website |
| Category | Refinancing | Refinancing |
| Editorial rank | #3 of 15 | #4 of 15 |
Strengths
Earnest
- ✓Precision pricing looks beyond credit score for personalized rates
- ✓Choose your exact monthly payment amount and loan term
- ✓Skip one payment per year without penalty
- ✓Ability to switch between fixed and variable rates
- ✓No origination fees or prepayment penalties
SoFi
- ✓Zero fees — no origination, application, or prepayment charges
- ✓Unemployment protection pauses payments during job loss
- ✓Career coaching and networking events for SoFi members
- ✓Both fixed and variable rate options available
- ✓Rate discount for autopay enrollment
Watch out for
Earnest
- !Requires strong credit and income for the best rates
- !No co-signer option available on refinancing loans
- !Refinancing federal loans means losing income-driven repayment and forgiveness
- !Not available in all states
SoFi
- !Best rates require excellent credit and high income
- !Refinancing federal loans forfeits income-driven repayment and PSLF
- !No co-signer option for refinancing products
- !Minimum refinancing amount may exclude smaller loan balances
Best use cases
Earnest
- →High-earning professional wanting to aggressively pay down student debt
- →Borrower wanting the flexibility to customize their exact monthly payment
- →Recent graduate with strong income seeking the lowest refinancing rate
SoFi
- →Working professional refinancing high-interest student loans at a lower rate
- →Borrower wanting unemployment protection as a safety net
- →SoFi member looking to consolidate student loans within the SoFi ecosystem
About each tool
Earnest
Earnest offers student loan refinancing with a unique precision pricing model that considers your full financial profile — not just your credit score — to determine your exact rate. Borrowers can choose their exact monthly payment and loan term, skip one payment per year, and switch between fixed and variable rates. Earnest is owned by Navient and has refinanced billions in student loans. The platform is especially popular among high-earning professionals looking to reduce their interest costs on existing student debt.
SoFi
SoFi is one of the largest student loan refinancing lenders, offering competitive rates with no origination fees, no prepayment fees, and unemployment protection that pauses payments and provides career coaching if you lose your job. SoFi also offers private student loans for current students. The company's member benefits extend beyond lending to include financial planning, networking events, and career services, creating a community-oriented approach to student loan management.
Still deciding? Browse all 15 options with honest pros, cons, and pricing.
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