Earnest, a fintech company empowering students to maximize their financial futures, has partnered with Payitoff, a leading provider of consumer debt guidance tools for financial institutions, fintech, and financial wellness providers, to launch its Student Loan Manager. The new, free tool provides personalized repayment plan recommendations to lower monthly payments, helping borrowers take control of and better manage their student loan debt.

“The expiration of the CARES Act has created stress and anxiety for many of the nearly 37 million federal loan borrowers,” said David Green, CEO of Earnest. “Borrowers are grappling with payment concerns amid rising inflation, and many aren’t sure who their servicer is or how to pay them. Earnest’s Student Loan Manager aims to educate borrowers on their options and help them get on the right financial track fast, whether by finding their servicer in seconds or supporting their enrollment in federal repayment programs to lower monthly payments.”

Earnest’s Student Loan Manager is designed to support anyone with federal student debt, including those who are not able or willing to refinance their federal student loans. In only a few minutes, the free tool provides personalized, clear, and actionable information to help borrowers manage their federal student loans. Borrowers are only asked for essential information that is safeguarded with end-to-end encryption, enabling them to enroll in suitable potential money-saving programs directly through the platform.

In just a few steps, borrowers can:

• Learn who is servicing their federal student loans by simply entering their phone number, date of birth, and zip code.
• Link federal loan accounts to get automated guidance on federal assistance program eligibility.
• Receive individualized repayment plan recommendations and lower monthly payments to best fit their lifestyle, considering factors such as income, family size, and amount owed.
• Enroll in federal assistance programs such as income-driven repayment.

“For millions of people, the student loan payment resumption will impact their lives in an untold number of ways,” said Bobby Matson, CEO of Payitoff. “The good news is that a plethora of options are available to borrowers to minimize their monthly payments. Our aim with this partnership is to use technology to simplify that process to just a few clicks. We want borrowers to be able to slash their student loan payments in half, or more, in minutes. That's what this collaboration achieves.”

Join the more than 200,000 customers who have reduced their total cost of education with Earnest’s debt solutions.