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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

$444.24

TO

$471.67

MONTHLY PAYMENTS

2.55% - 4.99% APR
60 Payments
Total Payments
$26,654 - $28,300
7 Year

$333.61

TO

$354.99

MONTHLY PAYMENTS

3.29% - 5.14% APR
84 Payments
Total Payments
$28,023 - $29,819
10 Year

$250.74

TO

$269.96

MONTHLY PAYMENTS

3.8% - 5.39% APR
120 Payments
Total Payments
$30,089 - $32,395
15 Year

$186.18

TO

$207.60

MONTHLY PAYMENTS

4.1% - 5.75% APR
180 Payments
Total Payments
$33,512 - $37,368
20 Year

$156.82

TO

$179.25

MONTHLY PAYMENTS

4.4% - 6.01% APR
240 Payments
Total Payments
$37,637 - $43,020
Fixed Rate Loans
5 Year

$450.22

TO

$483.20

MONTHLY PAYMENTS

3.09% - 5.99% APR
60 Payments
Total Payments
$27,013 - $28,992
7 Year

$341.61

TO

$370.99

MONTHLY PAYMENTS

3.99% - 6.48% APR
84 Payments
Total Payments
$28,695 - $31,163
10 Year

$257.77

TO

$286.29

MONTHLY PAYMENTS

4.39% - 6.69% APR
120 Payments
Total Payments
$30,932 - $34,355
15 Year

$193.17

TO

$220.40

MONTHLY PAYMENTS

4.65% - 6.69% APR
180 Payments
Total Payments
$34,771 - $39,672
20 Year

$166.23

TO

$189.20

MONTHLY PAYMENTS

5.09% - 6.69% APR
240 Payments
Total Payments
$39,895 - $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.
2018-12-18
5 Tips for Spreading Holiday Cheer to Employees

The most wonderful time of year can often be the most confusing for employers looking to bring holiday cheer to the office. It’s usually a busy time for everyone and sometimes it can be a lot of work for not a lot of reward, but no need to bah-humbug. Here are some ideas, including the ever difficult to answer gifts for employees question.

Employee gifts

  Gifts for employees change with the times because the economy is always changing and people’s preferences for the gifts they want to receive change. Some might think, a gift is a gift, when in fact nothing could be further than the truth. There are parameters. Some gifts may even have the opposite reaction of what you intended. We’ve all had that “gift” from a relative or someone that didn’t seem like a gift at all. It may feel like more like a joke, or worse, a burden that you feel you need to outwardly appreciate, but you really don’t.   First off, a gift is a gift. If you’re basing it on performance it’s a performance bonus. If there are no strings attached, it’s a gift. That’s not to say that all gifts must be equal, but they should come from a good place. Forget about giving out company branded SWAG, that always ranks as one of the most hated gifts.   What do most employees want? Ask them and they’ll tell you they want cash. They may appreciate the gesture of fruit, gift cards, or motivational books. When it comes down to it when you ask if they would have rather had cash the answer is usually, yes. The great thing about cash is it’s easy. The problem with cash is it’s impersonal. It’s not always fun to give and sometimes easy to forget when it’s from your employer.  
Education Loan Finance for Business can help out here in a unique way because you can give them something that has the power of cash, with added sentiment and thoughtfulness. You can help pay some of their student loans for the month. By providing a yearly contribution to student loan debt it is the same as giving cash, but it tells employees you understand. It shows that you understand the financial obligations they have and you want them to be in a more financially secure place. They can use the extra money they don’t have to pay loans with, on their holiday gifts, or they can pay down their loans even faster. It’s a win-win.   Not every employee will have student loans obviously, but it’s a great option for those that do. For the rest? What employees seem to love most is a choice. That may seem a little impersonal, but really it’s not. Say you offer, cash, a gift card to a nice restaurant or an extra day off next year. Employees who get to choose what they want will be happy because they were involved in the process. Happy employees mean fewer complaints and that can help make the holidays a little happier.  

Educational Lunch

Around the holidays many people become stressed about finances due to gift-giving and popular shopping days. Something you can do as an employer to ease stress for your employees is to set up a financial education lunch. This type of lunch would be great before the holidays to share some budgeting tips and ideas. Have a local banker, partner, or client come in and share their top tips for the holidays. Cater the lunch and allow employees to ask as many questions as they’d like during the sessions. If you want to make it fun try giving away some surprise gifts for those who attend.  

Remote Working Days

As the holidays draw near, the workload of employees will continue to get bigger. Consider offering your employees some remote days around the holidays. This will allow employees to work from home saving time on commuting and they can get more of their own personal chores done too. If you cannot permit employees to work from home try offering flexible working hours. Any additional flexibility that can be offered during the holidays will have a large impact on employees.  

Let your employees share in the giving or not.

  Whether it’s a secret Santa, white elephant, or a grab-bag, most offices have some sort of gift exchange. This can be an easy way to have fun that doesn’t take a lot of time. Put a strict limit on cost, usually $20 or less and let it be known that you don’t have to participate. No one likes to be forced into a secret Santa or some sort of gift giving organized by their employer.  

Share the company’s edible gifts and let employees share their treats.        

  Sometimes vendors, clients, or partners will send gifts to management, often in the form of edible treats. Why not open it up to everyone to share in the goodies? It doesn’t cost anything. Additionally, invite employees to share their holiday treats if they want. You’ll find that a lot of people enjoy sharing their favorite things about the holidays as much as they do getting gifts. You could even host a holiday lunch where employees are invited to bring in their favorite treats.   Regardless of how your company chooses to proceed through the holidays, it’s important to keep in mind your employees. It’s best to facilitate an environment where workers like to come to work. Though it may seem counter-intuitive to spend money on educational lunches or remote working days, these can help to ease employee stress. Employees who are stressed less will do better work and be more willing to stay to get work done.  

Five Things Millennial Employees Look For

Woman practicing yoga
2018-12-17
Experiential Gift Giving Guide

We’ve all heard the millennial generation has shifted their focus from material possessions to experiences. They don’t want a thing that’s just going to take up space they don’t have, they want to do something. It should come as no surprise that for the holidays they’d prefer experiential gifts. If you have a Millennial in your life here are a few gift ideas we’ve gathered. Before making a purchase, consider the person you are buying for and their unique taste, your location and obviously your budget. For ease, we’ve broken it up into the categories Mind, Body, Soul, and Stomach.  

Mind

  Art   If someone on your list is into art, consider getting them a membership to the art museum in your area. Memberships often include more access and special events. If they’re really into art you can’t beat this VIP tour of an empty Met museum in New York City. You’ll have the ability to go before the museum opens. Groups are 25 people max allowing you to see some of the world’s greatest artwork like you’ve never seen it before.  

Travel

  For most of us, travel is one of the most eye-opening experiences. To be in a place that’s uniquely different from normal awakens the senses and expands your imagination. We could recommend a number of travel experiences like sand boarding at Sand Dunes National ParkExploring ancient caves in South America, but travel is so personal. We recommend sites like IF ONLY that offer more curated experiences in the United States and you can’t beat an AirBnB gift card that lets people choose their own adventure.    

Body

  Gym   Now, if the person you buy for spends most of their evenings on the couch, this probably isn’t the gift for them. If they are into sports and fitness and they don’t already have a gym membership, it may be just the right thing. You could do a month or even a year. You could even get one yourself and go together – built-in gym partners. If you’re gifting to someone who is always on the go, look into getting them a Classpass. This allows them to take classes at a gym located in different areas. For a person who is traveling a lot or is always moving, it’s great.   Salon   When you look good you feel good, but a lot of us don’t splurge for the fancy salon. When you can take advantage of a fancy salon, without the guilt of spending money it’s all the better. Find their salon and let them get their hair or nails did. Places like Drybar offer gift cards and you can get a wash and blowout for around $40. The best part that includes wine!   Massage   With the stress of the holidays, most of us just want to be in a quiet room for an hour. Throw in a relaxing massage that lets your friend unplug and escape the world for a bit. It may not be the most personal gift, but it never goes unappreciated.    

Soul

  Zen   If they’re down with the downward dog, you could get them some local yoga classes or consider one of the many companies that offer amazing yoga retreats like Yogascapes, where you can join a small group of like-minded people for an amazing yoga retreat in “off the beaten path locations.”   Music   There’s nothing more personal than music. Consider tickets to a show one of their favorite artists or a subscription to a music service if they don’t have one. For those that are a little more free-spirited consider finding music in a really intimate setting through sites like Sofarsounds.com.    

Stomach

  There’s no experience more common or universal than food and eating. And you have to do little more than scan Instagram to see how much people love food. With this in mind, there are so many directions you can go with food. From cooking classes to meal delivery services to full-on molecular gastronomy experiences it’s hard to go wrong with the food. Don’t have a big budget? Then you can always give actual food that you’ve made, it’s almost sure to be appreciated.  

7 Money Mistakes Young Professionals Should Avoid

  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.
Doctor at work
2018-12-06
The 4 Most Common Causes of Physician Burnout in 2018

This is Part II of our three-part research series with LeverageRx, an online financial marketplace exclusively for doctors.   Changes in healthcare often have a domino effect on employees and patients. The medical profession has to evolve and change to share the latest in medical findings. But what if those changes cause the people that patients depend on to burnout? Recent changes in the industry are taking a serious toll on physicians. Medscape’s annual Physician Lifestyle Report surveyed more than 15,000 physicians from 29 specialties. Of survey respondents, 42% of physicians reported burnout.   Could change in the healthcare industry be boosting the number of physicians who experience burnout? What factors could be contributing to physician burnout?Let's take a closer look at the four most common causes of physician burnout in 2018.  

Relationships

Mergers and acquisitions are on the rise in healthcare. In fact, they were up 57% in the first half of 2018 compared to the same period of 2017 per The Wall Street Journal.   Nowadays, it can be rare to find a physician who isn’t practicing within a large healthcare group. Due to the rising costs of owning your own practice, joining a healthcare system may seem like a no-brainer. For physicians, it means less to worry about when it comes to things like:  
  • New technology.
  • Medical equipment.
  • Insurance.
  But does joining a healthcare system alleviate physician burnout? Or could it actually be adding to it?   On one hand, these large healthcare systems can be a great fit for physicians:  
  • With no time to run their own practice.
  • Looking to take on less risk.
  On the other hand, large healthcare systems can be a source of stress for patients. And that patient stress often ends up taking a toll on their physician.   Healthcare systems tend to increase efficiency by utilizing multiple locations and specialties. For patients, this may have removed the basic comforts of seeing a local physician. Instead of calling the office’s front desk, patients pass through large, automated phone systems. Other factors that may cause stress for ill patients seeking treatment include changes in:  
  • Location.
  • Hours of operation.
  • In-network insurance.
  As physicians advance in their careers, their workload grows. This often times means they can no longer communicate with patients like they once could. The endless chase for answers can cause damage to the relationship a physician may have spent years building.   33% of physicians surveyed said that they're easily exasperated with patients. 32% said they are less engaged with patients due to physician burnout.   Could this loss of loyalty be adding to physician burnout?  

Loyalty

  When patients lack loyalty to physicians, this causes a lack of enthusiasm for physicians. Patient loyalty may decrease due to the healthcare system and the absence of a personal touch.   An underlying reason for the lack of patient loyalty to physicians is insurance. For patients and healthcare systems, coverage is subject to constant change. As of 2018, many health systems see this as a concern for their business. As a result, many have transitioned from volume-based care to value-based care. Utilizing a value-based strategy should help health systems rebuild lost patient relationships. Value-based care restores relationships by offering patients easier communication and more convenience. This shift to a value-based strategy will affect physicians in several ways, including:  
  • An increasing focus on technology.
  • A more holistic approach to health in the community.
  Due in part to this lagging patient loyalty, physicians do not receive the praise they once did. For most physicians, the reward they seek goes beyond their paycheck. Patient approval justifies their hard work as time well spent. This attitude shift toward the medical profession raises concerns when considering the results of a recent Prophet/GE study. It found a staggering 81 percent of consumers are unsatisfied with their healthcare experience.  

Emphasis on Profits

  For many healthcare systems, a value-based strategy may cause additional physician burnout. This strategy requires physicians to perform more administrative tasks, which takes away from patient care.   For example, if testing is required under this type of strategy, it would be imperative to explain as to why the additional testing is needed. Not only is there more paperwork that falls on the responsibility of physicians, but there could be less staffed physicians. In addition, health systems routinely only contract with a percentage of physicians of one type of specialty. This lack of staff depth leads to:  
  • Longer regular working hours.
  • More overtime hours.
  • More on-call duties.
  The medical profession already faces a great deal of pressure and stress. Add to this a lack of work-life balance, and naturally, they are at a greater risk for depression and burnout.   Health systems are often for-profit based organizations. Like any industry, the desire to drive bottom lines is huge.   According to the 2018 Medscape compensation report, physician salaries have been on a steady incline. Supply and demand for physicians is as strong as ever. But for physicians who feel overworked and undervalued, the minor salary bump may not be enough. According to the Medscape National Burnout & Depression Report of 2018, here are the top three contributing factors:  
  1. Too many bureaucratic tasks (paperwork) – 56%
  2. Spending too many hours at work – 39%
  3. Insufficient compensation – 24%
 

Student Loan Debt

  Physicians illustrate a concern for financial wellness.   To pursue a career in medicine, most need student loans to finance their education. In turn, seventy-five percent of medical school graduates begin practice with debt. What's worse is that the average medical school grad carries $192,000 in debt. It’s no surprise that the burden to pay off these loans can cause extreme financial strain for young physicians. And although many overcome to lead successful careers, some never fully recover.   According to the Medscape Physician Wealth and Debt Report of 2018, most school loans are paid off by age 50. Thirty-two percent of physicians surveyed were still paying down their own student loan debt from medical school.   With so many physicians paying down student loan debt, it's no wonder their financial outlook is unique. More money for student loan payments means less money for lifestyle spending and retirement planning. This financial stress extends beyond large monthly payments, too. It also impacts their experience as first-time homebuyers.   In addition to the long hours physicians typically work, they now have little money to add to their budgets. In fact, 24% of physicians in the Medscape survey said that insufficient compensation contributed to their burnout. And when asked what could be done to reduce burnout, 35% said: “increase compensation to avoid financial stress."   In a large healthcare system, it can be tough to stand out. Most CFOs are not closely involved with physicians. This lack of engagement means physicians are less likely to get the financial resources they need. Most raises and bonuses in large healthcare systems come at a preset rate or a generic structure. As a physician, refinancing student loans can offer significant cost savings.   Depending on the repayment plan, this is possible both:  
  • Over the life of the loan.
  • On a monthly basis.
  Large health systems should consider offering student loan debt assistance to physicians and other employees.  

Key takeaways

  Like student loan debt, physician burnout is a crisis affecting the healthcare industry today. Based on our research, the former is actually fueling the latter. But that's not the only culprit. Other leading causes include:  
  • Less meaningful relationships.
  • A decline in patient loyalty.
  • Profits over work-life balance.
  The healthcare industry is subject to constant change. Although advancements in medicine are needed, they should not overshadow those who provide care. Prioritizing the personal and financial well-being of physicians is the first step to overcoming the burnout crisis.  

9 Signs it’s Time to Refinance Student Loan Debt

  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 websites 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.