If you’ve been looking into refinancing your student loans to get better rates and terms, Education Loan Finance (ELFI) could fit the bill.
ELFI is a student loan debt consolidation program offered by SouthEast Bank. Here’s what else you need to know about refinancing student loans with ELFI.
ELFI student loan refinancing overview
Just because you’ve started paying back your student loans doesn’t mean you’re stuck with your monthly payment, interest rate, or repayment term. Refinancing can help borrowers save thousands of dollars by adjusting their rates and terms.
If you refinance your student loans with ELFI, you may also be able to take advantage of these borrower benefits:
|Loan amounts||From $15,000 up to any balance|
|Loan terms||5, 7, 10, 15, and 20 years1|
|Loan qualifications||Private, Federal, and Parent PLUS loans|
|Education||Bachelor's degree or higher|
|Citizenship/Residency||U.S. citizen or permanent resident alien without conditions and with proper evidence of eligibility|
|Other perks||Borrowers demonstrating financial hardship may qualify for up to 12 months of forbearance|
How to refinance with ELFI
ELFI can be a good match for many borrowers who are looking into refinancing. The rate cap on variable-rate loans may be an attractive feature for those considering that product. Because every lender has its own methods for evaluating borrowers, it’s always a good idea to request rates from multiple lenders first.
Credible simplifies the process of requesting rates from ELFI and other lenders offering student loan refinancing. It only takes 2 minutes to request rates, and we use a soft credit inquiry that doesn’t affect your credit score. Your personal information is never shared with lenders unless you see an option you want to proceed with.
The company above is one of Credible’s approved partner lenders. Because they compete for your business through Credible, you can request rates from them by filling out a single form. Then, you can compare your available options side-by-side. Requesting rates is free, doesn’t affect your credit score, and your personal information is not shared with our partner lenders unless you see an option you like. Credible receives compensation if you close a loan with one of our partner lenders. The rates you receive and the fees you pay (if any) are not impacted by this compensation.