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Go ahead, grab these simple documents and you could be on your way to BIG savings.

It’s so simple you can even upload a screenshot of the following documents.
✓ Current Billing Statement or Payoff Letter – Please provide a billing statement or payoff letter for each eligible loan. These documents must include: servicer name, borrower name, loan account number, loan IDs, or sequence numbers (where applicable) and payment mailing address.
Recent Pay Stub – Pay Stubs or proof of employment must be from within the last 30 days.
✓ W-2 Form – Must be from the most recent tax year.
Government Issued ID – Valid ID such as a Driver’s License, passport, or NonDriver’s License ID.
Account Information – instead of providing only a discount to those borrowers who select auto debit, Education Loan Finance provides a discount to all borrowers. All borrowers are required to make payments electronically. Borrowers who elect to make payments with auto debit are required to submit billing account information for setup.
Tax Returns – (if self-employed)

Billing Statements


For billing statements or payoff letters to qualify we’ll need to see the below information.

  • Name
  • Account number
  • Current balance or payoff amounts
  • Payment mailing address

Please note that each statement should not be more than 30 days old. Additionally, if you plan to exclude some loans from a single servicer, you will need to provide sequence numbers, loan IDs, or any identifying number for each loan to be included in your refinance.

Click here to view sample statements.

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Latest news from ELFI

Learn more about Education Loan Finance.
October 25, 2018
Best Student Loan Consolidation Lenders of 2018- Education Loan Finance
U.S. News ranks Education Loan Finance as one of the best student loan consolidation lenders of 2018.

Borrowers are assigned a dedicated personal loan advisor who is a single point of contact from application to payoff. Personal loan advisors are four-year college graduates trained and tested in student loan programs and refinancing.

October 25, 2018
Education Loan Finance On Ways Lenders And Servicers Can Avoid Future Issues
Executive Vice President of Education Loan Finance (ELFI) shares views on how lenders can avoid future issues.

There is an opportunity, for lenders and servicers to learn from these conflicts and employ best practices going forward to avoid similar trouble. We spoke with an industry professional, Barbara Thomas, Executive Vice President of Education Loan Finance (ELFI), to get her views on these and other issues.

October 25, 2018
Is Student Loan Cosigner Release Really Possible?
Barbara Thomas explains the difference in using cosigners for in-school loans and refinancing of student loans.

In our conversation, none of the student loan experts had seen a successful cosigner release. Furthermore, a Consumer Finance Protection Bureau (CFPB) study found that 90% of cosigner release applications were rejected by the lender.