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. Learn More

Your passion is our promise.

We’re focused on helping you advance your career, no matter your course of study. In minutes, you can check your rates without affecting your credit. Our entire application process can be completed online and you won’t be surprised with hidden fees or strict repayment terms. Need convincing? See the hundreds of reviews from our customers.

Get Started Today

Don’t miss out on our exceptional rates, first-rate customer service, and flexible repayment options.

Applying Is Simple

Our graduate student loan process is quick, transparent and straightforward. Best of all, every applicant receives their own Student Loan Advisor who will provide guidance every step of the way. What are you waiting for? Get prequalified in minutes.

With ELFI, You Won’t Pay:

• Application fees
• Origination fees
• Prepayment penalties

Pre-qualification does not affect your credit score.



See personalized rates in minutes.



Explore options and select a plan with the best rates and terms to fit your needs.



Upload screenshots or smartphone photos of your documents. Then sign your paperwork electronically!

Graduate Student Loan Calculator

We offer flexible repayment options to fit your lifestyle. Enter the desired loan amount and months remaining until graduation. We’ll calculate an estimated monthly payment based on your preferred terms. What are you waiting for? Pick the repayment option that works for you!

Affordable Rates & Flexible Terms for Student Loans*

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

Loan Amounts From


Rates From


4.73% APR*


4.48% APR*

Terms From

5 – 15 years

* 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 $11.00 per $1,000 borrowed. Education Loan Finance Parent Loans are limited to a maximum of the 10-year term.

The Right Fit

  • The student must be enrolled at least half-time in a Master’s or Doctoral degree program.
  • Borrowers and cosigners must be U.S. citizens or permanent resident aliens without conditions and with proper evidence of eligibility.
  • Borrower (or cosigner) must have a minimum credit score of 680.

Borrowing Details

The minimum amount required per loan is $1,000. The maximum loan size will be the amount approved by the school for qualified education expenses for the requested academic period. Loans cannot fund more than one academic year of school-certified costs. Additional terms and conditions apply.

Get More Eligibility Details Here

Specialized degrees are our specialty

From med school to law school, our Student Loan Advisors are equipped to provide guidance on even the most specialized of degree programs.


Do ELFI Private Student Loans have any fees?

There are no application, origination, or prepayment fees.

What discounts do you offer?

ELFI does not require you to do anything extra to get the best rate we can offer. All borrowers are required to make payments with an electronic or digital transfer. Therefore the auto pay discount is already reflected in your approved interest rate.

How long does the application process take? How quickly can I get my loan?

Our entire application process is online, so completing your application can be done in a matter of minutes. Once you have submitted your application, you’re assigned a Student Loan Advisor who will be available to answer any questions.

Once we have your application and your documentation, we send the loan application information to the school for certification. Your school will verify your enrollment status, academic progress, and your financial aid package to confirm the amount of the loan. Once the school has certified the amount, you must complete your application by accepting your loan terms, and then we will send the funds directly to your school on your behalf.

Do I need to be a full-time student to obtain an ELFI Private Student Loan?

You do not need to be a full-time student, but you must be enrolled in a Master’s or Doctoral degree program and be attending classes at least half-time. Check out our full eligibility requirements to learn more.

What repayment options are available for student loans?


  • Loan term starts upon disbursement of funds to the school.
  • Make principal and interest payments while attending school.
  • Full payment of interest and principal will begin 30 to 60 days following disbursement.

Interest Only

  • Make interest-only payments on the loan while attending school.
  • Continue interest-only payments during the six month grace period.
  • Full payment of interest and principal will begin 30 to 60 days upon completion of the grace period.


  • Make $25 payments while attending school.
  • Continue $25 payments during the six month grace period.
  • Full payment of interest and principal will begin 30 to 60 days upon completion of the grace period.


  • While attending school, no payments are required on the loan.
  • No payments are required during the six month grace period.
  • Full payment of interest and principal will begin 30 to 60 days upon completion of the grace period.
Do I need a cosigner? What are the benefits of having a cosigner?

You don’t need a cosigner when applying for a private student loan with Education Loan Finance as long as you qualify by yourself. If you have limited credit history and income, a cosigner with a good credit history and income can improve your chances of obtaining a private student loan.

Do you offer temporary forbearance for an economic hardship?

If you are unable to repay the loan because of financial hardship or medical difficulty, Education Loan Finance may grant forbearance for up to 12 months. Forbearance is at the discretion of Education Loan Finance.

What Our Customers Are Saying