Parent Loan Refinancing

Parents can consolidate both private and PLUS loans originally taken out for their dependent students.

Choose a loan that fits your budget

At ELFI, we believe that parents who have assisted in financing their children’s college education also deserve the opportunity to find flexible repayment plans with competitive interest rates. ELFI offers refinance options for Parent PLUS or private education loans, with terms from 5-10 years. Below are sample payments for a $25,000 loan using each of ELFI’s student loan refinance options*. Your actual interest rate may be different than the rates in these examples and will be based on the term of the loan, your financial history, and other factors, including your cosigner’s (if any) financial history.

*Subject to credit approval. Terms and conditions apply.

ELFI borrowers never pay application fees, origination fees, or prepayment penalties. Refinancing your Parent PLUS or private education loans with ELFI is already rewarding, but we have an extra reason for you to speed up the process.

Earn $100 bonus cash with the ELFI Fast Track Bonus! Learn more about the Fast Track Bonus Program.


Variable Rate Loans for Parents

5 YEAR

$439.29

TO

$471.67

MONTHLY PAYMENTS

2.10% - 4.99% APR

60 PAYMENTS

Total Payments

$26,357.31 - $28,299.98

7 YEAR

$323.62

TO

$354.99

MONTHLY PAYMENTS

2.40% - 5.14% APR

84 PAYMENTS

Total Payments

$27,183.71 - $29,819.55

10 YEAR

$240.25

TO

$269.96

MONTHLY PAYMENTS

2.90% - 5.39% APR

120 PAYMENTS

Total Payments

$28,829.95 - $32,394.61


Fixed Rate Loans for Parents

5 YEAR

$453.12

TO

$483.20

MONTHLY PAYMENTS

3.35% - 5.99% APR

60 PAYMENTS

Total Payments

$27,186.97 - $28,992.23

7 YEAR

$340.00

TO

$370.99

MONTHLY PAYMENTS

3.85% - 6.48% APR

84 PAYMENTS

Total Payments

$28,559.72 - $31,163.49

10 YEAR

$258.49

TO

$286.29

MONTHLY PAYMENTS

4.45% - 6.69% APR

120 PAYMENTS

Total Payments

$31,019.27 - $34,355.13

*To qualify for refinancing or student loans consolidation through ELFI, you must have at least $15,000 in student loan debt and must have earned a bachelor’s degree or higher from an approved post-secondary institution. | ELFI parent loans are limited to a maximum of the 10-year term.

Program Limits:

Minimum Loan Amount $15,000

Maximum Loan Amount for Pre-Approval $250,000 (with higher amounts considered for exceptionally well-qualified borrowers).

Loan Terms offered in 60, 84, and 120 month maturities with fixed and variable interest rate structures.

Loan Eligibility:

All loans to be included in a SouthEast Bank Refi Loan must be “Qualified Student Loans” as defined by the U.S. Internal Revenue Service.

Ineligible Loans:

Employer-sponsored education financing and payment plans, school-sponsored tuition payment plans.

Term Limits:

Parent loans are limited to a maximum term of 120 months. The applicant must still meet the graduation and school eligibility criteria.

Fast Track Your Savings with ELFI

Earn an Extra $100

Refinancing your student loans with ELFI is already rewarding, but we have an extra reason for you to speed up the process: earn $100 bonus cash with the ELFI Fast Track Bonus! Learn more about the Fast Track Bonus Program.

Try our payment estimator to see how much you could save!