Request for Grace Period Match Deferment

Most student loans contain a provision for a grace period immediately following the client’s exit from school. For clients with a Student Loan who are currently enrolled in the final academic period (up to 6 months) of a Title IV-accredited educational program or have completed a qualified educational program no earlier than the number of months equal to the maximum length of grace for which the client would otherwise be eligible, Earnest will match the grace period(s) offered by client’s existing student loan servicer(s).

If approved, we’ll grant a one-time deferment with an end date equal to the end date of the grace period less any grace time already used on the student loan being refinanced by the client. If the client is consolidating a number of prior student loans with varying grace period lengths, we’ll grant the client a Grace Period Match Deferment with an end date equal to the grace period with the latest end date up to a maximum of 9 months.

To be considered for a Grace Period Match Deferment, you must complete this form. Grace Period Match Deferment requests will not be processed without supporting documentation from the client’s current student loan servicer(s) indicating the current grace period status and any remaining grace period.

Requests must be received no less than five (5) business days prior to the beginning date requested by the client. Requests received less than five (5) business days before the desired start date will be reviewed and processed for the subsequent billing cycle. Payments remain due until approval is granted.

Section 1: Client Information

Client Name: ____________________________________________________________________
Account Number:
Loan Number(s): ____________________________________________________________________

If you want this benefit applied to all your Earnest loans, please list each individual loan number.

Section 2: Grace Period Match Deferment Request

I am (check one):
❒ A recent graduate requesting Earnest to match my existing/remaining grace period scheduled to end / / (mm/dd/yyyy)
❒ Currently enrolled in an academic program with an expected graduation date of ____ / / (mm/dd/yyyy) and requesting Earnest to match my grace period end date of _________/ / (mm/dd/yyyy)

Section 3: Documentation

❒ I have attached / provided documentation to support my request for a Grace Period Match Deferment.

Examples of satisfactory documentation include but are not limited to:

a. A statement showing the duration of the grace period and anticipated first payment date.
b. Other documentation that indicates the loan status is currently in grace.

Section 4: Disclosures

• Only Earnest Student Loan Refinance and NaviRefi Loan clients are eligible.
• If approved, the Grace Period Match Deferment will begin from the date your next billing statement is generated.
• If you have an Earnest Private Student Loan (excluding full principal and interest repayment plans) and choose to refinance with Earnest, you may be granted a Grace Period Match Deferment on your Earnest Refinance Loan.
• A client may be granted a one-time Grace Period Match Deferment over the life of the refinanced loan for the grace period on the underlying loan(s) less any already used grace time.
• Interest will continue to accrue on a daily basis at the interest rate set forth in the final disclosure in addition to the 0.25% discount for enrollment in Auto Pay.
• Interest will not be capitalized for refinanced student loans (Earnest Student Loan Refinance and NaviRefi Loans) only.
• Upon approval, the loan’s maturity date will be extended by the length of the Grace Period Match Deferment.
• Following the expiration of the Grace Period Match Deferment, the loan will immediately enter repayment with an increased minimum monthly payment amount to account for the interest accrued.
• Clients will not be allowed to adjust payment dates or the Auto Pay frequency during the Grace Period Match Deferment.
• Clients may choose to make payments toward the loan at any time during the Grace Period Match Deferment at their discretion. Any payments made by a client during the Grace Period Match Deferment will be applied to accrued interest first and then to the unpaid principal balance.
• Taking advantage of a Grace Period Match Deferment will reset any consecutive payment count to zero. For the purposes of refinancing an existing Earnest loan again or Skip-A-Payment, you will need to make additional on-time and consecutive full payments of principal and interest prior to qualifying for these options. Please see our Help Center for specific eligibility regarding Skip-A-Payment and refinancing..
• Earnest retains the right to decline any request that does not meet the eligibility requirements and qualifying conditions for a Grace Period Match Deferment.

Section 5: Client Requests, Agreements, Acknowledgements, and Certifications

I request that Earnest match the Grace Period Match Deferment on my refinanced student loan less any grace time already used. I agree that I will resume making scheduled payments beginning with the first payment due immediately following the expiration of the grace period and will make all scheduled payments thereafter.

By signing below, I acknowledge that I have read, understand, and agree to the information and disclosures in this form. I certify that I meet the eligibility requirements and conditions for Grace Period Match Deferment and that the information I have provided on this form are true and correct.

Borrower’s Name (print)

Borrower’s Signature

Date

(Last updated: October 2023)