Returning Customer Bonus Terms and Conditions: To begin the qualification process for the Returning Customer Bonus, customers must apply from a “Check Your Rate” button link provided on https://www.elfi.com/extend-with-elfi. Student loan applications must be submitted before February 1 2025, in order to be eligible. In order to qualify, the customer must have previously funded an ELFI private student loan prior to April 1, 2024. Customers who are approved for and close a loan will receive a $50, $150, $300, or $450 bonus based on the amount of their loan. For loans under $10,000, the borrower will receive a $50 bonus. For loans of $10,000 or greater, the borrower will receive a $150 bonus. For loans of $20,000 or greater, the borrower will receive a $300 bonus. For loans of $30,000 or greater, the borrower will receive a $450 bonus. If all qualifications are met, the borrower will be mailed a $50, $150, $300, or $450 cash bonus check within 12 weeks of the final disbursement of the loan and the borrower has provided ELFI with a completed IRS form W-9. Bonus requirements are specific to the underlying borrower, more than one bonus may be provided if a Parent Loan Borrower takes out more than one loan for underlying borrowers who meet the bonus requirements. Only one bonus per promotional offering period per underlying borrower is allowed. For example, if a borrower is approved for and closes a cumulative $20,000 loan that includes two disbursements of $10,000 scheduled for the fall and spring, a $300 bonus check will be mailed following the spring disbursement. If a disbursement is canceled, the bonus will be recalculated based on the total amount disbursed to the school and will be issued within 12 weeks of the scheduled or actual final disbursement. Offer available to those who are above the age of majority in their state of legal residence. Taxes are the sole responsibility of each recipient. Offer is subject to change without notice.
