Education Loan Finance (ELFI) offers competitive private student loans for undergraduates, graduate students, and parents, as well as a student loan refinancing product for borrowers seeking a better deal. The company aims to offer transparent payment options, competitive interest rates, and flexible terms along with an application process that is easy to understand.
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Education Loan Finance Review: Private Loans and Refinancing
Education Loan Finance (also known as ELFI) is a division of Tennessee-based SouthEast Bank. Launched in 2015, this student loan company offers undergraduate student loans, graduate student loans, parent loans and student loan refinancing with no hidden fees.
Min. Credit Score 680+
Loan Amount $1K up to the cost of attendance
Loan Repayment 5-15 years
Written by:Holly Johnson
Summarized Rating
Loan Features4
Interest Rates and Fees4.1
Qualification Leniency2.7
Application Process4
Customer Support1
User Reviews4.9
This parameter considers loan term lengths, loan limits, and loan structure optionality (fixed and variable rate offerings). For each loan type offered, each of these features was evaluated using the five-point scoring system. Then, the various scores were aggregated and averaged to establish an overall loan features score.
ELFI gets a near average 4.0 for Loan Features, which is attributable to its average term lengths and best-in-class loan structure optionality (fixed vs. variable).
Education Loan Finance Pros
Education Loan Finance Cons
From there, Education Loan Finance asks borrowers to create a profile for their ELFI account. For the most part, this entails sharing a name and an email address and creating a password for the account.
About the Author
Holly Johnson
Holly Johnson is an award-winning writer who covers personal finance topics such as insurance, loans and loan products, budgeting, credit cards and loyalty programs.
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