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A Company with Value


We know as a young professional time is of the utmost value to you. Our process is quick, simple and transparent. Our applicants receive a personal loan advisor to assist them through their entire application. Personal loan advisors mean less time explaining where you’re at and more time with your friends and family reaching your goals. We even provide flexible payment options so that you can spend more time doing what you need to do.

Education Loan Finance
borrowers never pay

  • Application fees
  • Origination fees
  • Prepayment penalties

Simple and Transparent Student Loan Refinancing

See what this Doctor of Physical Therapy had to say regarding his experience refinancing student loan with Education Loan Finance.

Student Loan Refinancing with a Personal Loan Advisor

See how a New York entrepreneur was able to get significant savings by refinancing his student loan debt. He reviews the process, working with other companies, and what the future holds for his family with their new savings.

Hospital CEO Talks Student Loan Refinancing

Ben couldn’t believe has easy and quick it was to consolidate his student loans. Let us help you make your life easier.

Loans to fit your budget

Below are sample payments for a $25,000 loan using each of Education Loan Finance’s student loan refinance options. The interest rate and monthly payment for variable rate loans may increase after closing. Your actual interest rate may be different than the rates in these examples and will be based on the term of the loan, your financial history, and other factors, including your cosigner’s (if any) financial history.
To qualify for refinancing or student loans consolidation through Education Loan Finance, you must have at least $15,000 in student loan debt and must have earned a bachelor’s degree or higher from an approved post-secondary Education Loan Finance institution. All rates are subject to change without notice. All loans are subject to credit approval. Additional terms and conditions apply.
Variable Rate Loans
5 Year

$447.00

TO

$471.67

MONTHLY PAYMENTS

2.8% - 4.99% APR
60 Payments
Total Payments
$26,820 - $28,300
7 Year

$338.28

TO

$354.99

MONTHLY PAYMENTS

3.7% - 5.14% APR
84 Payments
Total Payments
$28,416 - $29,819
10 Year

$255.62

TO

$269.96

MONTHLY PAYMENTS

4.21% - 5.39% APR
120 Payments
Total Payments
$30,674 - $32,395
15 Year

$191.38

TO

$207.60

MONTHLY PAYMENTS

4.51% - 5.75% APR
180 Payments
Total Payments
$34,448 - $37,368
20 Year

$162.38

TO

$179.25

MONTHLY PAYMENTS

4.81% - 6.01% APR
240 Payments
Total Payments
$38,971 - $43,020
Fixed Rate Loans
5 Year

$452.45

TO

$483.20

MONTHLY PAYMENTS

3.29% - 5.99% APR
60 Payments
Total Payments
$27,147 - $28,992
7 Year

$338.51

TO

$370.99

MONTHLY PAYMENTS

3.72% - 6.48% APR
84 Payments
Total Payments
$28,435 - $31,163
10 Year

$252.99

TO

$286.29

MONTHLY PAYMENTS

3.99% - 6.69% APR
120 Payments
Total Payments
$30,359 - $34,355
15 Year

$191.25

TO

$220.40

MONTHLY PAYMENTS

4.5% - 6.69% APR
180 Payments
Total Payments
$34,425 - $39,672
20 Year

$164.57

TO

$189.20

MONTHLY PAYMENTS

4.97% - 6.69% APR
240 Payments
Total Payments
$39,497 - $45,408

Refinancing Student Loans is Simple

Want a smarter way to manage your student loans? We have many student loan repayment plans to select from. We offer plans that allow you to achieve your goals. It only takes a few minutes plus you’ll have a personal loan advisor dedicated to you every step of the way.

Pre-qualification does not affect your credit score.

1

PRE-QUALIFICATION

See personalized savings in about two minutes.

2

APPLY

Explore options and choose which plan has the best rates, terms and payments for your needs.

3

UPLOAD & SIGN

Upload screenshots or smartphone photos of your documents, then sign your paperwork electronically!

Want to Earn $400?

If a new customer refinances with Education Loan Finance using your referral link, you’ll get $400 and you friend will get $100.

Check out our blog and learn more about
refinancing your student loan debt.

See if refinancing is right for you and review personal finance tips, career topics, and more.
2019-07-15
Differentiate Your Company to Recruit the Best Employees

There’s fierce competition in the global marketplace to attract and retain high-potential employees. In a competitive hiring environment, your company needs to project a strong and appealing corporate identity to land the best team members.   Those recruiting employees are scrambling for differentiators and value propositions to make their company stand out. Companies that attract and keep employees who share in their vision have distinct advantages: lower turnover costs, a more committed workforce—and an increased ability to exceed sales and production goals. Many recent college graduates begin their careers, expecting to jump from job to job frequently. Changing that mindset is a significant challenge for businesses. The following suggestions can help your company attract the best new hires—and retain them for years to come.  

Polish Your Company Brand

Today’s job seekers are looking for more than just a good compensation package. They want to be part of a team that emphasizes shared values and a unified purpose. A company and its workforce should have a recognizable brand with clearly communicated values. By clarifying your core values and creating a cohesive mission statement, you define your business philosophy and give new recruits a glimpse into your workplace culture.   Make a deeper impression on potential new team members by going a step further: Let high-potential employees experience your company culture firsthand. Consider including activities like these in your recruitment process:  
  • Tour of facilities & on-site amenities
  • Lunch with staff at the corporate lunchroom
  • Face-to-face meetings with company or division heads
  • Informal conversations with valued team members
  • Off-site mastermind gatherings with new and existing employees
  You will reduce turnover costs when you identify new staff members who share your company values and have the potential to fit seamlessly into your corporate culture. Understanding your company’s management style and the characteristics of your most successful employees can prevent potential hiring mistakes. One of the most common reasons cited for an employee leaving a job is a “poor relationship with management.” Your company will succeed at employee retention when you understand and communicate your management style and company culture at the outset— before you have spent the resources to recruit and train the wrong candidate.  

Create a Meaningful Compensation Package

A competitive salary is essential to new team members, but other types of compensation may seal the deal. Companies seeking to differentiate themselves from competitors offer compensation packages that are meaningful to their employees. In addition to healthcare benefits, paid time off and 401K fund matches, employees are looking for perks and benefits that enhance their lifestyle.   A recent Robert Half survey cited these desirable additions to a company’s compensation package:  
  • Paid parental leave
  • Opportunities for professional development
  • Profit-sharing plans
  • Student loan reimbursement
  • Dental & vision insurance
  • On-site amenities like childcare, gym & concierge services
  • Compressed workweek
  • Telecommuting
  • Flexible work schedule
  • Paid time off for volunteering
  Many perks are an expression of your company’s culture, adding purpose and engagement for your high-potential employees. Consider sponsoring a community food drive or park clean-up. Host social events, investment seminars or concerts. You could also incorporate monthly rewards for employees who exceed expectations, such as a $50 meal certificate. This would drive your employees to perform to their highest every month and maintain workplace morale. Today’s recent grads respond to a work environment that meshes with their personal values and interests.    

Sell High Potential Employees on Your Company

Once you have identified a talented candidate for hire, make the sale. New recruits who understand how they fit into your company’s culture and structure are more likely to invest themselves and stay. Boost talent retention by defining a path forward within the company. New hires want to know they will have opportunities for professional development, continuing education and the possibility of internal promotion. Show them where they could be short term, such as a year or two in the future. Seeing the growth within arm’s reach will give them the drive to perform the best they can. They are also highly focused on achieving work-life balance. If your business model permits it, offer greater work flexibility with schedules that allow work-from-anywhere options and unstructured time on the job.  

Add Student Loan Repayment Benefits

Corporate help with student loan repayment is a big plus for high potential employees and a key business differentiator. ELFI for Business has the expertise to help your HR department put together an attractive hiring package with sought-after benefits like these:  
  • Financial education
  • Employer contribution match
  • On-site consultations
  • Budget-friendly refinancing options
  Connect with ELFI for Business right from your HR portal—or call 844.601.ELFI to discuss the positive impact these benefits have on hiring and engaging valuable team members.  

Why Are Employees Leaving Your Company?

  NOTICE: Third Party Web Sites Education Loan Finance by SouthEast Bank is not responsible for and has no control over the subject matter, content, information, or graphics of the web sites that have links here. The portal and news features are being provided by an outside source – The bank is not responsible for the content. Please contact us with any concerns or comments.  
2019-07-11
Top 10 SAT Resource Publications for Students

Preparing to head off to college in the next year or two? If so, are you stressing out about the SAT? Colleges use SAT scores for admissions and merit-based scholarships. The SAT has three parts: reading, writing, and math. Studying for the SAT can help familiarize you with what the test looks like, develop relevant strategies and skills, and prepare you to achieve a high score. Here’s a list of self-guided prep books that can help you prepare for the SATs.
  1. The Official SAT Study Guide - The College Board. Pages: 1,145; Price: $19.01-$19.36The Official SAT Study Guide is a publication of The College Board, the organization that creates and administers the SAT. It includes eight practice tests that are similar to the exam. Each of these tests is available as a free, downloadable PDF on The College Board’s website. In addition to the tests, the book has an additional 250 pages of instruction, guidance, and test information. This volume should form the basis of your self-guided SAT studying program.
  2. SAT Prep Black Book: The Most Effective SAT Strategies Ever Published - Mike Barrett and Patrick Barrett. Pages: 575; Price: $24.50-$28.49SAT Prep Black Book deserves a place on your bookshelf right next to The Official SAT Study Guide. The book is authored by an SAT tutor who has guided many students in preparation for the test. Readers will learn how to use the ins and outs of the SAT to their advantage. It includes a walkthrough of more than 600 official SAT questions. The publication is written in a conversational style and is full of understandable advice for doing well on the SAT.
  3. The Complete Guide to SAT Reading - Erica Meltzer. Pages: 349; Price: $29.19-$33.20The Complete Guide to SAT Reading is a comprehensive review of the reading skills required to achieve high scores on the reading section of the SAT. The author is an experienced SAT tutor who provides breakdowns of SAT Reading types of questions. She gives in-depth explanations and numerous examples of how to effectively work through every kind of problem. This book offers helpful guidance for your SAT prep, no matter your level of reading skills.
  4. SAT Vocabulary: A New Approach - Erica Meltzer and Larry Krieger. Pages: 133; Price: $17.99-$18.95SAT Vocabulary covers critical vocabulary for the reading, writing and language, and essay sections of the SAT. Rather than just providing long lists of words and their meanings to memorize, the book teaches you to understand the various contexts in which vocabulary is tested. You can then test yourself by applying what you have learned with practice exercises.
  5. The College Panda's SAT Essay: The Battle-tested Guide for the New 2016 Essay - Nielson Phu. Pages: 64; Price: $18.99-$21.52Nielson Phu is a teacher who achieved a perfect SAT score when he took the new SAT in 2016. A copy of his high-scoring essay is included in The College Panda's SAT Essay. And, amazingly, Phu states that he's not a naturally gifted writer. In this book, you’ll find Phu’s tips, strategies, and resources to enable you to score well on the SAT essay, even if you don't think you’re a “good” writer. This short book is worth reading cover-to-cover.
  6. The College Panda's SAT Writing: Advanced Guide and Workbook for the New SAT - Nielson Phu. Pages: 270; Price: $10.29-$28.49Nielson Phu loves to write books to help students achieve a perfect SAT score. Don't be intimidated, though - The College Panda's SAT Writing provides comprehensive coverage of what you need to know to do well in the SAT writing and language section. It gives clear explanations of every grammar rule tested on the SAT, from the most basic to the most obscure. It also includes hundreds of examples, drills, and practice questions. To make the study of grammar less boring, Phu has even added in some fun illustrations.
  7. The College Panda's SAT Math: Advanced Guide and Workbook for the New SAT - Nielson Phu. Pages: 254; Price: $22-$28.49The College Panda's SAT Math is a comprehensive guide to the SAT Math section. This publication is aimed at the student reaching for a perfect score, and, in pursuit of this goal, it leaves no stone unturned. The book has clear explanations of the math concepts tested on the SAT, ranging from the simplest to the most complex. It also provides hundreds of examples, over 500 practice questions, and lists of the most common mistakes students make. Even if you don’t think you can achieve that perfect score, this book is an excellent way to brush up on your math skills.
  8. Bring Home the Score: A Private Tutor's Guide to Scoring in the Highest Echelons of the SAT, ACT, SHSAT, GRE, GMAT, LSAT, NCLEX, MCAT, or Any Other Standardized Test - Walter Tinsley. Pages: 86; Price: $9.96-$9.97Don't be put off by the lengthy subtitle of Bring Home the Score even if you have to look up what “echelon” means. This volume is jam-packed with tips, tricks, and strategies to land you among the top scorers on any standardized test - including the SAT. You will learn mental strategies to improve your motivation and avoid burnout from an overly aggressive study regimen. Bring Home the Score can help you create a schedule that’s intense but manageable.
  9. Solve. Create: The Insider's Guide to the ACT and SAT - Scott Moser. Pages: 523; Price: $19.68-$29.95People don’t usually think that standardized tests and creativity go together. The author of this book, a private test prep tutor, bases his strategy of success in the SAT on individualization and process rather than focusing on rote memorization. Reason. Solve. Create. aims to help the reader become a better thinker. For example, the same reasoning skills that are used in writing a poem can also be applied to solving a math problem or correcting a mistake in grammar. Information pertaining only to the SAT is clearly marked.
  10. The Perfect Score Project: One Mother's Journey to Uncover the Secrets of the SAT - Debbie Stier. Pages: 288; Price: $6.45-$16.45The Perfect Score Project is not a traditional SAT prep book but provides an interesting and insightful read for both students and parents. Debbie Stier, a single mother and an author, wanted to help her son prepare for the SAT. To this end, she took the test seven times in one year. She also studied every way possible to prep for the test. The result is a book with tried-and-tested answers to every SAT question a student might be asking themselves: When do I begin? Do I really need test prep with a big name? Do I need a tutor, a class, or can I self-study? What's the one thing I need to know? Stier's son did well on the SAT, and so can you.
 

All of these books can be purchased online, and the prices are for new and used books as advertised at the time (June 1, 2019) of this writing. The number of pages is approximate and is based on the table of contents for each book.

What You Need to Know About College Scholarships     NOTICE: Third Party Web Sites Education Loan Finance by SouthEast Bank is not responsible for and has no control over the subject matter, content, information, or graphics of the web sites that have links here. The portal and news features are being provided by an outside source – The bank is not responsible for the content. Please contact us with any concerns or comments.
2019-07-03
Measuring the Costs of Employee Turnover

Best-selling business management author Jim Collins was asked during a 2001 interview if he had identified a good business response to the economic slowdown that had gripped the nation. His widely quoted answer is as relevant today as it was at the time:   “If I were running a company today, I would have one priority above all others: to acquire as many of the best people as I could [because] the single biggest constraint on the success of my organization is the ability to get and to hang on to enough of the right people."   Nearly 20 years later and in a highly improved economic climate, Collins’ words still encapsulate the biggest challenge facing HR departments of corporate giants and small start-ups alike: finding and retaining quality team members. In an era of competitive recruitment and job-hopping staff, your company risks losing monetary and human capital each time a valued employee chooses to leave. Employee turnover impacts your bottom line and your company's culture. To set wise employee retention policies, you first need to assess the costs of staff turnover accurately and measure the full impact of employee loss.  

Direct Costs of Replacing Employees

A talented employee exiting your company costs you money. Estimates of how much employee turnover costs can vary by industry and employee salary. A study by Employee Benefit News estimates the direct cost to hire and train a replacement employee equal or exceed 33% of a worker’s annual salary ($15,000 for a worker earning a median salary of $45,000). Cost estimates are based on calculatable expenses like these:
  • HR exit interview & paperwork
  • Benefit payouts owed to the employee
  • Job advertising, new candidate screening & interviewing
  • Employee onboarding costs
  • On-the-job training & supervision
You can track the expenses of your company’s employee turnover using this online calculator, or create a spreadsheet to determine how actual costs add up to affect your bottom line.  

Full Impact of Employee Loss

Josh Bersin, a human resource researcher, writing for LinkedIn, refers to employees as a business’s “appreciating assets.” Good employees grow in value as they learn systems, understand products and integrate into their teams. When one of these valuable employees leaves, the business loses more than just the cost of hiring and training a replacement. Bersin cites these additional factors contributing to the total cost of losing a productive employee:
  • Lost investment: A company typically spends 10 to 20% of an employee’s salary for training over two to three years.
  • Lost productivity: A new employee takes one to two years to reach the level of an exiting employee. Supervision by other team members also distracts those supervisors from their work—and lowers the team’s collective productivity.
  • Lost engagement: Other team members take note of employee turnover, ask “why?” and may disengage.
  • Less responsive, less effective customer service: New employees are less adept at solving customer problems satisfactorily.
  According to Bersin, studies show the total cost of an employee’s loss may range from tens of thousands of dollars to 1.5 to 2 times that employee’s annual salary.  

Strategies to Slow Employee Turnover Rates

An effective exit interview helps you and your HR team pinpoint the drivers of your company’s employee turnover. You may find that hiring practices need to be refined or employee engagement should be enhanced. Changes to the break room space, such as fresh fruit or games, will allow your employees to relax and come back to work with fresh eyes and a better attitude. This will keep up the workplace morale, shaping your company culture to include perks appealing to younger workers and will lead to increased job satisfaction. Today’s employees are career-oriented and highly motivated. Keep them on your team with other opportunities such as:  
  • Pathway for advancement within the company
  • Professional development & advanced education
  • Flex-time & work-from-anywhere options
  • Management support & recognition
  • Lifestyle rewards or amenities like catering & concierge services
  • Culture of shared values & volunteerism
 

Add Student Loan Benefits Through ELFI

Student loan repayment tops the financial-worries checklist of many recent graduates. Older team members question their ability to pay for educating their children. New, highly desirable HR benefits like student loan contributions and financial literacy education are emerging from these employee concerns—and ELFI for Business is leading the way for employers to incorporate them into hiring packages. You can connect with ELFI directly from your HR portal and access multiple ways to contribute to employees’ student loan debt. We offer new-hire onboarding booklets, educational newsletters and onsite consultations filled with information for you and your employees. Reach out to us at 1.844.601.ELFI to add cutting-edge benefits to your HR employee package!  

Learn More About ELFI for Business

  NOTICE: Third Party Web Sites Education Loan Finance by SouthEast Bank is not responsible for and has no control over the subject matter, content, information, or graphics of the web sites that have links here. The portal and news features are being provided by an outside source – The bank is not responsible for the content. Please contact us with any concerns or comments.