ELFI Student Loan Refinance

ELFI is a nationwide student loan debt consolidation and refinancing program offered by Tennessee based SouthEast Bank. Offering among the lowest rates in the industry coupled with award winning customer service, it is designed to assist borrowers through consolidating and refinancing education loans to lower your cost of education and/or makes repayment very simple.

ELFI – backed by the strength of SouthEast Bank – combines the benefits of traditional education loan financing with the superior products, service, and support found in the private market.

Benefits

Our customers have reported that they are saving an average of $278 every month or will see an average of $20,774 in total savings after refinancing their student loans with ELFI.¹
Variable and fixed rates starting from 4.86% APR and 4.88% APR²
Fixed and variable rate loans with 5 – 20 year terms available. Terms up to 10 years for Parent Loans.
Award winning customer service from your dedicated Student Loan Advisor who is matched to you from the moment you sign up
No application or origination fees, and no prepayment penalties

Eligibility

Must have a minimum loan amount of $10,000.
Must have a minimum credit score of 680.
Must have a minimum income of $35,000 annually. Income does not include annual bonuses or commission.
Must have a minimum credit history of 36 months
Must be a U.S. citizen or permanent resident alien without conditions and with proper evidence of eligibility.
Must be at the age of majority or older at the time of loan application.
Must have earned a bachelor’s degree or higher from an approved post-secondary institution and program of study.

Disclaimers

¹Average savings calculations are based on information provided by SouthEast Bank/ ELFI customers who refinanced their student loans between 01/03/23 and 03/01/23. While these amounts represent reported average amounts saved, actual amounts saved will vary depending upon a number of factors.

²Rates accurate as of 11/15/24. 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. To qualify for refinancing or student loan consolidation through ELFI, you must have at least $10,000 in qualified student loan debt and must have earned a bachelor’s degree or higher from an approved post-secondary ELFI institution. ELFI Parent Loans are limited to a maximum of the 10-year term.