How to apply for the Education Loan Finance Private Student loans?
Education Loan Finance Private Student loans are low-cost, offer flexible terms, and provide a dedicated advisor to help you through the process. Learn how to apply for it!
by Aline Augusto
Applying for ELFI Private Student loans: simple application with no fees!
Education Loan Finance or ELFI is a lender specializing in helping people pay for education. So, they believe it is empowering, and the pavement they help you build guarantees a brighter future for you or your children. Thus, Education Loan Finance Private Student loans offers a low variable and fixed APR, from 1.20% and 3.20%, respectively. Also, it gives you flexible terms from 5 to 15 years.
Plus, it provides a dedicated advisor who will help you through the process. And all of that with no application, origination, or prepayment fees.
In addition, the application is fast and straightforward. And you can pre-qualify without harming your credit score.
Access the Education Loan Finance Private Student Loans website and click on Get Started. You can also find your rate and pre-qualify before applying for a loan.
Then, create a profile by filling in the forms with your personal information.
Note that you must meet the requirements, as follows:
- Be U.S. citizens or permanent resident aliens;
- Be at the age of majority or older;
- Have a minimum income of $35,000;
- Be enrolled in a program for a Bachelor’s, Master’s, or Doctoral Degree;
- Have a minimum credit history of 36 months with a good credit score;
- Be enrolled at least half-time in school if student;
And, if you are a parent applying for a loan, see the terms and conditions.
Finally, check out if the student attends an eligible school and send the documents.
Apply using the app
There is no mobile app available for this service.
Education Loan Finance Private Student loan vs. College Ave Student Loans
Are you searching for a loan? Don’t worry because we will help you! That’s why we have brought to you not one but two lenders for you to compare and decide which is the best.
|Education Loan Finance Private Student Loans||College Ave Student Loans|
|APR||Variable: from 1.20%|
Fixed: from 3.20%
|Undergraduate Student Loans: rates from 0.94% to 12.99%;|
Graduate Student Loans: rates from 1.99% to 11.98%;
Parent Loans: rates from 1.04% to 12.99%;
Refinancing: rates from 2.94% to 4.94%
|Loan Purpose||Education||Personal – for students who want to make payments while in school, or who need to refinance it|
|Loan Amounts||From $1,000||Minimum of $1,000|
|Credit Needed||Good (680)||Approximately 600|
|Terms||Students loans: 5 – 15 years|
Parents loans: 5 – 10 years
Refinancing: 5 – 20 years
|5, 8, 10, and 15 years|
|Late Fee||5% of the past due amount or $50, whichever is less;|
And a $30 fee for insufficient funds or returned check
|5% of the amount due, or $25, whichever is less|
|Early Payoff Penalty||None||None|
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