Zero Processing Fees

Earnest Education Loans for Study in US

Earnest offers private student loans for international students studying in the United States, with competitive interest rates, zero processing fees, and flexible repayment options.

Quick Loan Review

Loan Amount

Full Cost of Attendance (COA)

Processing Fee

0 Processing Fee

Loan Tenure

Upto 15 Yrs You can select a repayment term that fits your financial goals

Loan Type

No Collateral with a US Cosigner

Moratorium Period

Course Duration Plus 9 Months

Overview - Prodigy Student Loan

Earnest is a U.S.-based private student loan lender for international students at accredited U.S. universities. Through Nomad Credit, students can get fixed APRs starting at 2.84% with AutoPay, no origination or processing fees, full Cost of Attendance coverage, and 5–15 year repayment terms. No collateral is required, but a creditworthy U.S. citizen or permanent resident cosigner is needed. Students also get a 9-month grace period after graduation.

Benefits of taking an Earnest Study Abroad Education Loan:

Earnest Student Loan Interest Rates

Earnest offers both fixed and variable interest rate options. The abroad education loan interest rates is determined based on your credit profile, loan amount, and chosen repayment term at the time of application.

Fixed APR Range: 3.09% to 16.74% (2.84% to 16.49% with AutoPay discount)
Variable APR Range: 5.24% to 17.10% (4.99% to 16.85% with AutoPay discount)

Key Features of Earnest Education Loan

Competitive Interest Rates: Fixed and variable rate options available, with additional rate discounts for borrowers who enroll in AutoPay from a qualifying bank account.
Moratorium Period: Course duration plus a 9 month grace period after graduation or leaving school, giving students time to settle into employment before repayment begins.
No Collateral Required: No property or asset needs to be pledged. A creditworthy US cosigner is required in place of physical security for international students.
Zero Fee Structure: Earnest does not charge any origination, processing, late payment, or prepayment fees at any point during the loan lifecycle.

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Helping students worldwide choose top universities and secure their dream admits.

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Education Loan Options

Full Name*

Phone Number*

Email*

Planning to study in *

Which degree do you want to pursue? *

What is preferred intake? *

Cosigner options

Which University do you want to attend?* If not listed, select "Not Listed." If undecided, choose "Still Deciding."

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Who Can Apply for an Earnest Student Loan?

Indian students pursuing MS, MBA, MIM, or undergraduate programs at US universities are among the most common Earnest applicants. Here’s what you need to know.

Education loans without collateral are available with no property collateral needed, unlike SBI Scholar Loan or HDFC Credila, which may require immovable property for loans above ₹7.5 lakh.
Applicable for F-1 visa holders with a valid I-20 from an eligible US institution Earnest accepts most accredited universities
Loan disbursed directly to your university in USD no FEMA/RBI forex conversion complications for the student
A US cosigner can be an Indian-American relative, family friend, or university alumnus who is a US citizen or permanent resident
Nomad Credit helps you navigate the cosigner requirement and connects you with cosigner-matching resources if needed

Eligibility for Earnest Abroad Education Loan

Category	Details
Student Eligibility	- Available for students pursuing higher education abroad, mainly in the U.S. - Must have a confirmed admission offer from an eligible university or college. - Applicable for undergraduate, graduate, MBA, and professional courses. - International students usually require a creditworthy U.S. citizen or permanent resident cosigner. - Applicant must meet the lender’s academic and legal eligibility requirements.
Cosigner Requirement	- A U.S.-based cosigner is generally required for a US cosigner loan - Cosigner should have stable income and a good credit history. - Cosigner can be a parent, guardian, relative, or trusted individual.
Loan Coverage	- Covers tuition fees, living expenses, books, housing, travel, and other education-related costs.
Upfront Payment	- Application process is fully online. - No prepayment penalties in most cases. - Processing fees and terms may vary based on the loan profile and university.

Get Your Education Loan Today!

Explore the best loan options, check your eligibility in 2 minutes, and review financing options suited to your needs

Documents Required for Earnest Education Loan

Documents	Details
Identity Proof	- Valid passport- Government-issued photo ID (if required)
Admission Documents	Admission/offer letter from the university or college- Course details and fee structure
Academic Documents	Mark sheets and certificates of previous education- Standardized test scores (if applicable)
Financial Documents	Bank statements- Proof of income of the cosigner- Employment details of the cosigner
Cosigner Documents	U.S. citizen/permanent resident proof- Credit history details- Social Security Number (SSN)
Visa & Travel Documents	USA student visa copy (if available)- I-20 or equivalent university-issued document
Additional Documents	Proof of residence- Recent passport-size photographs- Any additional documents requested during loan review

Your Study Abroad Loan in 5 Simple Steps

Step 1: Check Your Loan Eligibility

Use our free eligibility tool to see your options instantly and understand how much you may qualify for.

Step 2: Connect With a Loan Expert

Speak with a dedicated loan counselor who will guide you through your options and help you prepare your application.

Step 3: Submit Your Documents

Upload your required documents and complete your application forms through our streamlined platform.

Step 4: Receive a Custom Offer

Our team negotiates on your behalf to help you access the best possible interest rate and loan amount.

Step 5: Get Approved and Receive Your Funds

Once approved, receive your sanction letter and let the lender disburse your funds directly to your institution.

Get Your Education Loan Today!

Explore the best loan options, check your eligibility in 2 minutes, and review financing options suited to your needs

Expenses Covered by Earnest Education Loan

Tuition fees
Living and accommodation expenses
Books and study materials
Laptop and other required academic equipment
Travel expenses related to education
Health insurance (if required by the university)
Miscellaneous university charges and student fees
Housing and meal plans
Exam and laboratory fees
Other education-related expenses approved by the lender

Your Path to an Education Loan: Fast, Easy, Guided

Step 1: Check Your Eligibility

Assess whether you are eligible for a Prodigy abroad education loan using Nomad Credit’s free loan finder tool.

Step 2: Speak with a Loan Expert

Benefit from professional advice on selecting the perfect Prodigy study abroad loan for you.

Step 3: Submit Your Documents

Upload all necessary documents to your account through the help of experts.

Step 4: Get Your Loan Offer

Secure the most favorable loan terms considering your qualifications and college of choice.

Step 5: Loan Approval and Disbursement

Get your sanction letter and funds disbursed directly to your university.

Earnest Loan: Countries & Destinations

Category	Details
Primary Study Destination	United States (U.S.)
Other Supported Destinations	United Kingdom (UK)- Ireland- Europe- Australia- New Zealand

Why Students Trust Nomad Credit for Their Loan Journey

Applying for the Prodigy student loan for abroad through Nomad Credit gives you more than just a loan, it gives you an edge. Here’s how:

Compare 20+ lenders to find the best-fit option

End-to-end document help for a smooth application

Faster processing with dedicated support

Better interest rates through expert negotiation

Admissions + loan support in one place

100% free service with zero charges

Trusted by Thousands of Graduates

Real People. Real Savings.

As I was heading for MBA at Columbia, I got in touch with Nomad team regarding the financing. They were super helpful and always approachable. This involved sitting with me on calls as I fill forms, helping with US cosigner doubts, helping me process all the applications. I highly recommend them!!

Anusha Goel

Columbia Business School

I’m really grateful to Nomad team for all the help and support. From the very first step, they were always just a call away. Thanks to them, the whole process felt so much smoother and less stressful. I’d happily recommend them. They truly go above and beyond for the people they works with!

Vibhuti Luthra

NYU Stern School of Business

I got in touch with Anchal regarding financing options as I head for an MBA at Stanford. She helped me get to know about all the available options with utmost patience. In the end, I was able to get a highly competitive interest rate with her help, which turned out to be the best option available in the market!

Yash Maheshwari

Stanford Graduate School of Business

Ganesh was my case manager at Nomad Credit. He helped me secure 2 student loans, 1 for each year of my MBA at UCLA Anderson. It is not always straight forward for international students to get student loans in the US, but Ganesh walked me through the whole process step by step, making it as stress free as possible. Highly recommended!

Jack Du

UCLA Anderson School of Management

Nomad Team helped me get the best possible option for my financing needs. They made sure that I got the most updated and consistent information to make the right decision towards the most important aspect of my studies i.e. money management. They were always there to help me and have a great attitude towards helping others.

Abhishek Pasricha

University of Southern California

Working with your team was an incredibly smooth and reassuring experience. A special shoutout to Karan and Deepesh, who truly went above and beyond at every stage and making sure everything was on track despite tight timelines. I’m genuinely grateful to have had such a supportive team by my side, I couldn’t have done it without you!

Sourav Mehra

UVA Darden School of Business

Since, I was doing this for the first time, I had a lot of questions. The team very patiently answered all my queries and consistently supported me from filling-up my application to document verification until I had received my loan confirmation. Overall, I really appreciate Nomad’s help in navigating me through my loan application process.

Shubham Malviya

Kellogg School of Management

Your unwavering support, particularly in navigating the challenge of securing a loan without collateral, has been truly remarkable. Special thanks to Shweta ma’am. Your service and commitment to helping students like me achieve their dreams have made a profound impact, and for that, I am deeply thankful.

Shakib Shaikh

Aston University

I’m incredibly grateful to Poonam and the entire Nomad Team for their outstanding support throughout. Their guidance was clear, timely, and tailored to my specific needs. I highly recommend them to anyone pursuing international education. They’re knowledgeable, professional, and genuinely invested in your success.

Akanksha Dilip Mhaisne

Kent State University

Thanks Sulekha & Nomad Credit for assisting me throughout. You also helped me boost my confidence personally in the entire process. I am grateful, you were there to resolve my every doubt regarding visa interview questions and any query I had. At the end, thanks once again for helping me achieve F-1 visa for the USA.

Jaspreet Kaur

University of Maryland

Your exceptional guidance made my master’s application process smooth and stress-free. You were always available and willing to answer my queries with patience and clarity. I highly recommend Nomad to anyone seeking professional guidance for their higher education journey.

Arshan Bhanage

San Jose State University

Frequently Asked Questions

Does Earnest charge any processing fees?

No. Earnest does not charge origination fees, late payment fees, returned check fees, or prepayment penalties.

What is the minimum interest rate for Earnest student loans?

The lowest available fixed rate starts at 2.84% APR with AutoPay enrollment. This rate is available only to the most creditworthy borrowers who select the shortest term and choose immediate full repayment while in school.

Can I defer payments while I am studying?

Yes. Earnest offers a deferred repayment option where no payments are required during the in school period or the 9 month grace period. Please note that the AutoPay discount does not apply during the deferred interim period.

Is a cosigner required for Earnest loans?

Yes. International students applying for an Earnest private student loan require a creditworthy US cosigner who is a citizen or permanent resident.

What expenses does Earnest cover?

Earnest covers the full Cost of Attendance as certified by your school, which includes tuition, housing, books, equipment, and other education related expenses.

What repayment terms are available?

Earnest offers repayment terms of 5, 7, 10, 12, and 15 years. The available terms and corresponding rates will vary based on your financial profile and chosen loan type.

Snigdha

Study Abroad Expert

Updated on: 27 May 2026

Reviewed by:

Swapnil

8 min read

Fact Checked

Disclosure:

1 Actual rate and available repayment terms will vary based on your financial profile. Fixed annual percentage rates (APR) range from 3.04% to 16.74% (2.79% – 16.49% with Auto Pay discount). Variable annual percentage rates (APR) range from 5.24% to 17.10% (4.99%–16.85% with Auto Pay discount). Earnest variable interest rate student loans are based on a publicly available index, the 30-day Average Secured Overnight Financing Rate (SOFR) published by the Federal Reserve Bank of New York. The variable rate is based on the rate published on the 25th day, or the next business day, of the preceding calendar month, rounded to the nearest hundredth of a percent plus a margin and will change on the 1st of each month. The rate will not increase more than once a month, but there is no limit on the amount that the rate could increase at one time. Our lowest rates are only available for our most credit-qualified borrowers and requires selection of our shortest term offered, full principal and interest payment while in school, and enrollment in our 0.25% Auto Pay discount from a checking or savings account. Enrolling in Auto Pay is not required as a condition for approval. Interest rates are subject to change.

2 Nine-month grace period is not available for borrowers who choose our Principal and Interest Repayment plan while in school.

3 Earnest does not charge fees for origination, late payments, returned check, or prepayments.

Florida Stamp Tax: For Florida residents, Florida documentary stamp tax is required by law, calculated as $0.35 for each $100 (or portion thereof) of the principal loan amount, the amount of which is provided in the Final Disclosure. Lender will add the stamp tax to the principal loan amount. The full amount will be paid directly to the Florida Department of Revenue.

Certificate of Registration No. 78-8016373916-1.

4 Repayment terms and repayment options available vary based on loan type. Available interest rates are subject to change. Interest rates as of 03/19/2026.