The content on this website is for educational and informational purposes only and should not be construed as legal, financial or tax advice. While the ELFI team works to maintain updated blog content, the information provided is subject to change over time. Information is accurate as of the publishing date. Links to other websites or references to services or applications are provided as a convenience only. A link does not imply ELFI’s sponsorship or approval of any other site, service or application. ELFI does not control the content of these sites, services or applications.
*Education Loan Finance is a nationwide student loan debt consolidation and refinance program offered by Tennessee based SouthEast Bank. ELFI is designed to assist borrowers through consolidating and refinancing loans into one single loan that effectively lowers your cost of education debt and/or makes repayment very simple. Subject to credit approval. See Terms & Conditions. Interest rates current as of 06-01-2023. The interest rate and monthly payment for a variable rate loan may increase after closing, but will never exceed 9.95% APR. 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. See Eligibility Requirements for more information. For example, a 10-year loan with a fixed rate of 6% would have 120 payments of $11.10 per $1,000 borrowed. Rates are subject to change.
†Notice for Federal Student Loan Borrowers: On 8/24/22, the White House announced up to $10,000 in forgiveness on federal student loans for qualified borrowers and up to $20,000 qualifying for Pell Grant recipients. On November 22, 2022, the student loan payment pause was extended until the U.S. Department of Education is permitted to implement the debt relief program or the litigation is resolved. Payments will restart 60 days later. If the debt relief program has not been implemented and the litigation has not been resolved by June 30, 2023 – payments will resume 60 days after that. Before refinancing federal student loans, keep in mind that doing so will cause you to lose access to future benefits applied to federally-held loans. Learn more.
2Named a Best Student Loan Refinance Lender by U.S. News & World Report as of 10/26/22.