MBA Student Loans
Ready to take the next step in your career? Our team of ELFI Personal Loan Advisors can help guide the way to funding your future. With low rates, flexible terms and a quick prequalification process, we help you get down to business.
Empowering You to Make a Difference.
We offer MBA student loans with competitive interest rates, flexible loan options, and award-winning customer service. Our management team has a strong foundation in student lending, with over 30 years of experience. Ready to take the next step in your education journey? Let ELFI help make it possible.
Eligibility
- The student must be enrolled at least half-time in an MBA 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 $10,000. 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
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
$1,000
Rates From
Variable
4.98% APR*
Fixed
8.42% 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.
Applying Is Simple
Our MBA student loan process is quick, transparent and straightforward. Best of all, every applicant receives a Personal Loan Advisor who is available via call, text or email. What are you waiting for? See your potential savings with a no-risk prequalification.
With ELFI, You Won’t Pay:
• Application fees
• Origination fees
• Prepayment penalties
Prequalification does not affect your credit score.
PREQUALIFICATION
See personalized rates in minutes.
APPLY
Explore options and select a plan with the best rates and terms to fit your needs.
UPLOAD & SIGN
Upload screenshots or smartphone photos of your documents. Then sign your paperwork electronically!
FAQs
There are no application, origination, or prepayment fees.
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.
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 Personal 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.
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.
Immediate
- 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.
Fixed
- 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.
Deferred
- 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.