Education Loan Finance review

If you’re looking for a good student loan to help you pay for your college expenses or to refinance existing debt, this Education Loan Finance review is made for you. Learn how ELFI can help you complete your education with its flexible terms and rates.


Education Loan Finance: Get your rates estimates with only a soft pull!

Education Loan Finance review
Check out our Education Loan Finance review. Source: The Post New.

When it comes to education, most people believe that the more you invest, the better your return will be. However, with the cost of tuition and other associated school expenses on the rise, many students and families are finding themselves in a difficult position when it comes to paying for school. In this Education Loan Finance review, we’ll show you why ELFI can be a solid alternative to help you pay for college. 

With competitive rates and flexible terms, you can get loans from $1,000 up to the full cost of attendance. ELFI allows borrowers to pre-qualify without a hard inquiry on their scores, and you can repay your loan between 5 and 15 years. ELFI offers fixed and variable rates and you can apply with a cosigner.

Education Loan Finance review

How to apply for the Education Loan Finance?

Learn how to apply for the Education Loan Finance and get the best rates without harming your score.

  • APR: Fixed at 3.20% – 11.99% and variable at 1.86% – 11.52%.
  • Loan Purpose: Education or refinancing.
  • Loan Amount: At least $1,000.
  • Credit Score Needed: Minimum 680 from the applicant or cosigner.
  • Terms: Up to 15 years.
  • Origination Fee: There’s no origination fee.
  • Late Fee: After a 10-day grace period, ELFI charges 5% over the amount due with a $50 maximum value. 
  • Early Payoff Penalty: There’s no prepayment fee.

Education Loan Finance: is it a good student loan?

Education Loan Finance, also known as ELFI, offers student loans for undergraduate and graduate students, as well as parents and people who need refinancing. ELFI is an established program offered by SouthEast Bank and has been funding loans since 2015. They offer a pre-qualification process for new applicants to check what rates they can get with only a soft credit pull.

There are fixed and variable rates for undergrad and graduate students starting at 1.86%. The terms range from 5 to 15 years and you can get from $1,000 to the total cost of your attendance. Parents can also request a loan to help them pay for their child’s education, but the terms are different: from 5 to 10 years.

There are no application, origination or prepayment fees. However, ELFI charges a late payment fee and returned payment fee, so it’s important to keep all payments on time. 

Education Loan Finance: should you get one?

Education Loan Finance review
Should you get this loan? Source: Adobe Stock.

Getting a student loan is a long-term commitment. Therefore, you should know all the advantages and drawbacks of the service you’re hiring before you apply. Check the pros and cons of this loan next in our Education Loan Finance review. 


  • No application, origination or prepayment fees;
  • Low fixed and variable APR;
  • Flexible repayment terms;
  • Pre-qualify without harming your credit score;


  • To be eligible, you or your cosigner need a minimum score of 680;
  • There’s no cosigner release option;
  • Refinancing is a minimum of $10,000.

What is the required credit score?

While this is a great alternative for a student loan, the service is not available to all. That means that in order to become eligible for ELFI, you or your cosigner must have a FICO score of at least 680.

Education Loan Finance application

If after reading our Education Loan Finance review you’d like to learn more about the application process, follow the link below. In it you’ll find information on how to apply, eligibility requirements and more. 

Education Loan Finance review

How to apply for the Education Loan Finance?

Learn how to apply for the Education Loan Finance and get the best rates without harming your score.

About the author  /  Aline Barbosa

Aline Barbosa is an editor, writer and learning-enthusiast. Passionate about music, books and human behavior. Curious about the unknown. Believer that learning is a life-long process.

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