Earnest vs MentorWorks Education Capital

Struggling to choose between Earnest and MentorWorks Education Capital? Both products offer unique advantages, making it a tough decision.

Earnest is a Ai Tools & Services solution with tags like ai, machine-learning, lending, loans, fintech.

It boasts features such as AI/machine learning-based credit evaluation, Personal loans, Student loan refinancing, Medical loan refinancing and pros including Potentially get approved for a loan with a low credit score, Lower interest rates than traditional lenders for some borrowers, Fast online application process, No origination fees, No prepayment penalties.

On the other hand, MentorWorks Education Capital is a Education & Reference product tagged with financing, education, loans, career-training.

Its standout features include Income share agreement financing, Deferred tuition financing, Short-term working capital financing, Custom financing structures, and it shines with pros like Provides alternative financing options for skills-based education programs, Allows students to defer tuition until after graduation, Expands access to educational opportunities.

Feature	Earnest	MentorWorks Education Capital
Overall Score	N/A	N/A
Primary Category	Ai Tools & Services	Education & Reference

Product Overview

Earnest

Description: Earnest is a lending platform that uses artificial intelligence and machine learning to evaluate loan applications. It provides personal loans and refinancing for student loans and medical loans. Earnest aims to provide affordable loan rates based on the applicant's credit profile and earning potential rather than credit score alone.

MentorWorks Education Capital

Description: MentorWorks Education Capital is a fintech company that provides flexible financing and repayment solutions for career accelerators, bootcamps, and other skills-based educational programs.

Key Features Comparison

Earnest Features

• AI/machine learning-based credit evaluation
• Personal loans
• Student loan refinancing
• Medical loan refinancing

MentorWorks Education Capital Features

• Income share agreement financing
• Deferred tuition financing
• Short-term working capital financing
• Custom financing structures

Pros & Cons Analysis

Earnest

Pros

• Potentially get approved for a loan with a low credit score
• Lower interest rates than traditional lenders for some borrowers
• Fast online application process
• No origination fees
• No prepayment penalties

Cons

• High minimum credit score requirement (680)
• High debt-to-income ratio requirement (50%)
• No cosigners allowed
• Limited loan amounts
• Only available in certain states

MentorWorks Education Capital

Pros

• Provides alternative financing options for skills-based education programs
• Allows students to defer tuition until after graduation
• Expands access to educational opportunities

Cons

• Students take on debt and repayment risk
• Less flexible than traditional student loans
• Limited to certain types of educational programs

Pricing Comparison

Earnest

• Subscription-Based

MentorWorks Education Capital

• Subscription-Based
• Custom Pricing