Update 1/21/2021: President Biden has issued an executive order to extend the federal student loan payment suspension through Sept 30, 2021. We will continue to monitor these changes and post them as they occur.

How it works.

This benefit is available for full-time employees of SEB and ESA and their direct family members: Spouse, Children, Step-children, Parents, and Step-parents.


  • Must be employed by ESA or SEB at the time the employee or family member refinances to qualify for contribution.
  • Must remain an employee at ESA or SEB or family member of an employee to receive the annual $500 contribution. The $500 contribution will be made in the form of a principal reduction of their ELFI student loan and applied every December 15. All taxes are the responsibility of the borrower.
  • Must apply via the links on this page to qualify for the $500 annual contribution benefit. Applications submitted using other links or portals will not qualify for contribution.

Savings Illustration:

The Savings Illustrations above is provided as an example of the savings that could be earned and is based upon the assumptions that all loan payments are made in full and on time.  All calculations are estimates based upon the employee loan details and employer contribution information provided and assume a fixed interest rate and corresponding APR. Monthly payments for loans with a variable interest rate are subject to change. Actual savings will vary based upon a number of factors.

Start Earning Your Annual Contribution Now!

We deliver what graduates need most: Affordable Rates. Flexible Terms.

We have no application fees, no loan origination fees and no penalty for paying off your loan early.

Loan Amounts From


And Up

Rates From

2.55% APR


3.09% APR


Terms From

Student Refinancing

5-20 year

Parent Refinancing

5-10 year

* The interest rate and monthly payment for variable rate loans may increase after closing. Your actual interest rate 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. For example, a 10-year loan with a fixed rate of 6% would have 120 payments of $1,100 per $1,000 borrowed. To qualify for refinancing or student loan consolidation through Education Loan Finance, you must have at least $15,000 in qualified student loan debt and must have earned a bachelor’s degree or higher from an approved post-secondary Education Loan Finance institution. Education Loan Finance Parent Loans are limited to a maximum of the 10-year term.

ELFI Loan Eligibility Requirements:

  • Minimum Loan Amount $15,000
  • Completion of a bachelor’s degree or higher from an approved post-secondary institution
  • U.S. Citizen or permanent resident
  • Age of majority or older
  • FICO and debt-to-income rate that indicates the borrower has the capacity to repay the loan and a $35,000 minimum annual income

What our customers are saying...