Earnest Education Loan for Indian Citizens
Pursue your US degree with Earnest’s no-fee loans, offering APRs from 5.99% and up to 100% cost of attendance coverage.
Overview
Earnest offers flexible, no-fee education loans for Indian international students pursuing degrees in the USA. Covering up to 100% of the cost of attendance with APRs starting at 5.99%, Earnest provides customizable repayment terms and a 9-month grace period.
Key Features & Benefits
- ✔ Loan Amount: Up to 100% COA, max $250,000.
- ✔ Grace Period: 9 months post-graduation.
- ✔ Repayment Tenure: 5–15 years, customizable.
- ✔ APRs: 5.99%–16.59% (fixed), 6.99%–18.00% (variable).
- ✔ No Fees: No origination, prepayment, or late fees.
- ✔ Flexible Payments: Interest-only, $25/month, or deferred.
- ✔ Credit Building: Builds US credit history.
- ✔ Rate Match: Matches competitor rates + $100 gift card.
Eligibility Criteria
Student:
- Indian citizen studying in the USA.
- Enrolled half-time in a Title IV, 4-year institution.
- Physical US address (not PO box).
- SSN/ITIN or Earnest placeholder.
Co-signer (Mandatory):
- US citizen or permanent resident.
- Credit score ≥ 650, ≥ 3 years credit history.
- Annual income ≥ $35,000.
Documents Required
Student:
- Passport, US visa, SSN/ITIN (or placeholder).
- Proof of US address (utility bill, lease).
- Admission letter, cost of attendance document.
- Academic transcripts, GRE/TOEFL/IELTS scores.
- Financial proof (bank statements, scholarships).
Co-signer:
- US driver’s license or passport.
- Proof of US address.
- Income proof (pay stubs, tax returns).
- SSN, credit report authorization.
Interest Rates & Charges
Earnest offers competitive fixed and variable APRs with no fees and a 0.25% autopay discount, ensuring cost-effective financing.
| Loan Type | APR (p.a.)* | Fees | Collateral |
|---|---|---|---|
| Fixed Rate (Undergraduate/Graduate) | 5.99%–16.59% | None | Not required |
| Variable Rate (Undergraduate/Graduate) | 6.99%–18.00% | None | Not required |
*APRs include 0.25% autopay discount. Rates vary based on credit and market conditions. Contact Earnest for personalized rates.
Application Process
- Submit Inquiry: Fill out our quick online form.
- Expert Guidance: Connect with our loan advisor for Earnest options.
- Document Prep: Gather documents with our assistance.
- Application: Apply online via Earnest’s website.
- Disbursal: Funds released to school within 5–10 days post-approval.