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About EdMed

Choosing how to fund your education and training is a significant decision. Consider EdMed: a state-of-the-art loan option designed to meet medical and healthcare students right where they are and support them on the journey ahead. Learn more about what sets EdMed apart, and what we at ELFI might offer you.

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The ELFI Story, Now Starring EdMed

EdMed may be our newest student loan offering, but its foundation lies in over a decade in the industry and the greater combined expertise of our nationally recognized customer service team. Learn more about where we come from:

2015

SouthEast Bank launches nationwide subsidiary Education Loan Finance from headquarters in Farragut, Tennessee.

2019

Education Loan Finance expands its private student loan product offerings for undergraduates, graduates, and parents of students to finance post-secondary education.

2024

Commonly known as ELFI, Education Loan Finance makes the switch official with a new name, new look, and same great service after surpassing $3 billion in loans funded.

2026

ELFI launches a new graduate loan program specifically in support of medical and healthcare professionals: EdMed.

LESS TIME MANAGING LOANS, MORE TIME FOCUSED ON WHAT MATTERS

See How EdMed’s Student Loan Features Add Up

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No Income Verification

Can you borrow student loan funds against the earnings you’ll make as a medical or healthcare professional? With EdMed, it’s possible!

We provide the option to waive income approval(1) for eligible borrowers who choose to enroll in our Fixed Repayment Plan through school, our 9-month grace period, and any approved deferment), meaning that you may not require a cosigner in order to qualify for the full amount you need.

At this stage in your professional training, you might not want to ask Mom or Dad to cosign on your student loans, and with EdMed you may not have to! However, if you decide to apply with a cosigner, we also offer the option to apply for cosigner release as a particular perk of our EdMed student loans. It’s just one more way we try to help you to transition into your future practice smoothly responsibly.

Multi-Year Approval

Each year of your program will come with rigorous coursework, challenging exams, and demanding clinical training. Don’t let your financial assistance be one more annual stressor.

While you should complete your FAFSA each year of your education to continue receiving federal financial aid, with EdMed private student loans you simply apply once to cover the total outstanding cost of your program. After qualifying for multi-year approval(2), you don’t have to reapply to renew your student loans. We’ll work directly with your school to ascertain the final amount you need each year and disburse funds when they’re due.

For anyone else, we’d tell you to sit back and relax — but we know better when it comes to ambitious students like you! Instead, we’ll say trust us to be your one-stop-shop for student loans.

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Automatic Residency Deferment

One of the primary concerns medical students have when taking on student loan debt is how repayment works during residency, since at this stage you may be working on a more introductory pay scale. EdMed offers a solution: residency deferment.

Some EdMed student loan borrowers, such as medical and dental students, may be eligible for 48-months of residency deferment automatically(3). All EdMed borrowers, however, may apply for residency and/or fellowship deferment for 12-months at a time, up to 96 months total.

That means you could have up to eight years of total deferment(3), freeing you to focus on your development as a clinician, researcher, or administrator, rather than managing your loans.

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Eligibility Requirements

These Benefits Come Standard for Every ELFI Borrower

Competitive Rates & Flexible Terms

We believe in rewarding financially responsible borrowers by providing competitive rates with flexible terms that make repayment more manageable.

Award-Winning Customer Service

Each customer is paired one-on-one with a Student Loan Advisor to guide them through the process of applying, finalizing, and disbursement on their loan.

Fee-Free Online Application

Enjoy an easy online application process without application fees, origination fees, or prepayment penalties for paying off their loan early.

See Your Estimated Rates in Minutes

Before you commit, preview your estimated rates and repayment options quickly, without impacting your credit score.

FEDERAL FINANCIAL AID HAS ITS LIMITS

EdMed Is Here to Help You Cover the Bill

Federal financial aid has seen its share of changes, including borrowing limits put in place by the recent passing of the One Big Beautiful Bill. At ELFI, we understand that these limitations may present challenges for students pursuing advanced graduate education in the medical field, and we are committed to expanding pathways into professional training for more students than ever.

That’s why we created EdMed, a private student loan option designed to provide critical financial support to graduate medical and healthcare students, with features to help them reach graduation, training, and beyond. And it’s all backed by the expertise of our Student Loan Advisor team and the trust of thousands of customers to date.

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Excellent Customer Experiences

Rated 4.9 out of 5 on TrustPilot

When you combine personalized service, an easy application with no fees, and flexible loan options, you get 5-star customer experiences.

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ELFI’s EdMed Student Loan:
Frequently Asked Questions

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Terms & Disclosures

1

Non-Income Verified Approval: In order to waive income verification, borrower must be enrolled in an eligible MD, DO, DPM, DDS, or DMD program and select the Fixed Repayment option.

2

EdMed Student Loans: Loans and multi-year approval are subject to credit approval and continued program eligibility and school certification. EdMed Parent loans may have different requirements and term options. Terms & conditions apply. Interest rates are current as of 3/27/26. Interest rates may be different from the rates shown above and will be based on the term of your loan, your financial history, and other factors, including your cosigner’s (if any) financial history. Variable interest rates may increase after closing. For example, a 10-year loan with a fixed rate of 9.00% APR on an immediate repayment plan would have 120 monthly payments of $12.66 per $1,000 borrowed. Rates are subject to change.

3

Residency Deferment:

  • An Automatic Residency Deferment will apply to borrowers who are enrolled or officially accepted into a medical residency program at the time they graduate from the school for MD, DO, DDS, DMD, and DPM degrees and the deferment period will automatically be extended for 48 months (not including the Grace Period) with no action necessary by the borrower. These borrowers may also extend the 48 month Automatic Residency Deferment Period in increments of 12 months up to 96 months total, provided that the borrower call ELFI and provide proof of residency or fellowship beyond the initial 48 months.
  • Borrowers who graduate with DNP, MSN, OD, DVM, and PharmD degrees may be eligible for Residency Deferment that can be requested in increments of 12 months up to 96 months total.

Residency Deferment is available at the sole discretion of ELFI. Borrowers must request and ELFI must approve the Deferment. Borrowers may be asked for proof of residency or fellowship to be approved. If approved, a minimum monthly payment of $25.00 will apply during the Residency Deferment. For example, if your loan was disbursed on 8/15/2026 and you completed residency on 5/15/2028, you would make 30 monthly payments of $25 beginning 9/15/2026 (which includes your 9-month grace period before full payments), followed by 120 full monthly payments beginning 3/15/2029 of $68.17 for every $5,000 borrowed at a 9% APR. Rates subject to change. Borrowers may contact ELFI at any time to end Residency Deferment early.