SoFi vs Earnest: Student Loan Refinance Compared (2026)
Both charge no origination fees. Earnest lets you tailor the payment; SoFi publishes a rate table by term. Refinancing federal loans ends federal protections.
| SoFi | Earnest | |
|---|---|---|
| Published fixed rates | 4.49% to 10.99% APR depending on term, shown with autopay and SoFi Plus discounts (rates page, $10,000 example) | From 4.45% APR including the 0.25% autopay discount; starting fixed rates 4.70% to 10.24% before the autopay discount (rate disclosure updated 09/15/2026) |
| Variable rates | 5.74% to 10.99% on a 5-year term, 6.99% to 10.99% on longer terms; index 3.74% (30-day average SOFR) | From 5.88% APR; not available in AK, IL, MN, MS, NH, OH, TN and TX |
| Fees | No application or origination fees, no prepayment penalties | No origination fees; Earnest says "no fees of any kind". Florida residents pay a state documentary stamp tax |
| Minimum to refinance | $5,000 (may be higher in some states) | $5,000, up to $550,000 (some states have limits) |
| Terms | 5, 7, 10, 15 and 20 years | "Up to 180 ways to customize" the loan; pick your exact monthly payment |
| Extras | Member rewards program (see SoFi terms) | Skip one payment a year; up to 9-month grace period after graduation (per Earnest) |
| Federal loan warning | Refinancing federal loans into a SoFi loan forfeits federal benefits, including forgiveness and income-driven repayment | Same: you lose federal income-driven repayment, deferment and forgiveness options |
| Financialist editorial scorecard | Rates 4.6, fees 5.0, flexibility 4.5, experience 4.7 | Rates 4.6, fees 4.9, flexibility 4.8, experience 4.4 |
SoFi: pros and cons
Pros- Clear rate table by term and type
- No application, origination or prepayment fees
- Terms from 5 to 20 years
- Best published rates are for strong credit profiles
- Refinancing federal loans gives up federal protections
Earnest: pros and cons
Pros- No origination fees
- Pick the exact payment you want to pay
- Skip-a-payment feature and grace period
- Variable rates unavailable in several states
- Florida borrowers pay a state stamp tax
- Refinancing federal loans gives up federal protections
Our take
Check both. Earnest fits borrowers who want to set an exact payment; SoFi fits borrowers who want to compare a published rate table across terms. Both use a soft credit check to show your rate. If your loans are federal, think hard before refinancing: you give up income-driven repayment and forgiveness for good. Compare the APR and total cost, not the monthly payment.
Full ranking: Best student loan refinance companies · How we rank · All comparisons
Sources checked
- SoFi: student loan refinancing rates and terms
- SoFi: eligibility criteria (current as of December 2025)
- Earnest: student loan refinance
- Earnest: rate disclosures (last updated 09/15/2026)
- Earnest help: minimum and maximum balance
Prices, rates and terms change. Confirm on the company's site before you buy or apply. Financialist publishes general information, not financial or legal advice.