The ELFI Blog
Explore the ELFI blog for tips and strategies for paying off student debt faster, saving money, and achieving financial freedom.
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Average Student Loan Debt 2022
If you have outstanding student loans, you’re not alone. The Federal Reserve Bank of St. Louis reported that Americans currently […]
Can You Use a 529 Plan to Pay Student Loan Debt?
A 529 college savings plan is a tax-advantaged tool to save for a child’s education. However, there are some circumstances […]
What to Do When You Can’t Pay For College
It’s no secret that going to college is expensive. With tuition on the rise, many people think higher education is […]
Best Ways For Parents to Pay Off Student Loans
$233,610. This is the total today’s average American family can expect to spend raising one child. If this seems like […]
How to Take Out Student Loans for College
As you start the college application process, you’ve thought a lot about what you’re looking for. Your preferred living arrangement, […]
Refinance Your Student Loans in 6 Steps
If you’re sick of so much of your student loan payments going toward the interest rather than the principal, student […]
Can You Use a 401k to Pay for College?
According to the National Center for Education Statistics, the average annual cost to attend a 4-year public university in the […]
How to Consolidate Parent PLUS Loans
Each year, millions of parents help their children pay for college by taking out federal Parent PLUS Loans. Unlike other […]
A Guide to Refinancing Private Student Loans
Whether you reached the borrowing maximum on federal student loans or needed cash to cover additional class fees, you may […]
How President Biden’s Loan Forgiveness Plan Will Impact Inflation
Under President Biden’s student loan forgiveness program, borrowers can qualify for up to $10,000 in loan cancellation ($20,000 if they […]
The Impact of Inflation on Millennials
For millennials, it seems like there’s always a financial crisis. Millennials experienced the dot-com bubble, the Great Recession of 2008, […]
How Does Biden’s Student Loan Forgiveness Plan Affect Parent Plus Loans?
President Joe Biden recently announced that student loan forgiveness would be available for eligible borrowers. Up to $20,000 in federal […]