Graduate Student Loan from ELFI

Updated November 14, 2021
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Check your student loan rates

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Fixed APR
3.2%
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Variable APR
1.2 - 18%
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Amount
up to 100%
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Grace period
N/A
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Degree
Graduate
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Co-signer required
No
See full info about rates in different states
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Options

  • Degree:
    Graduate
  • Lender:
    Education Loan Finance, Inc
  • Bank:
    SouthEast Bank
  • Credit Level:
    Good (670-739)
  • When funds are available:
    1-3 business days.

Fees

  • Origination fee
    No origination fee.
  • Application fee
    No application fees.
  • Early payment fee
    No early payment fees.
  • Late fee
    5%
  • Returned check fees
    $30

Pros & Cons

Pros:
  • Online application
  • No Application, Origination, or Prepayment Fees
  • Loans are available in all states
Cons:
  • Late Payment Fee
  • Returned Check Fee

Variable rates

Rates
1.2 - 18%
Term
60 - 180 months
Loan Amount
$1,000 - 100%

Fixed Rates

Rates
3.2%
Term
60 - 180 months
Loan Amount
$1,000 - 100%
View all Rates & Fees

Repayment Options

  • Immediate – Interest and principal payments begin 30 to 60 days after the loan has been funded.
  • Fixed – You make $25 monthly payments while in school and for up to six months after graduating or dropping below half-time attendance.
  • Interest-Only – You make interest-only payments while in school and for up to six months after graduating or dropping below half-time attendance.
  • Deferred – Payments begin six months after you graduate or are not enrolled at least half time.

Requirements

  • What you need to get approved (Qualifications)
    FICO® score 680 or higher.
  • Ages

    A Borrower must be at the age of majority or older at the time of loan application.

  • Requirements Description
    • The student must be enrolled at least half-time in a Bachelor’s degree program.
    • Borrowers and cosigners must be a U.S. citizen or permanent resident alien without conditions and with proper evidence of eligibility.
    • Borrower (or cosigner) must have a minimum credit score of 680.

Description

  • Education Loan Finance offers Fixed and Variable loans from $1,000. Terms are 5 to 15 years.

    The APR range starts from 3.20% (Fixed), 1.20% to 18.00% (Variable).