Welcome, Saving for College Readers!
Bring Your Future Into Focus with ELFI Graduate School Loans
At ELFI, we offer a variety of loan options to fit your needs, whether you’re a parent, student, or a postgraduate looking to advance in your field. Learn more about ELFI’s parent loans and see why your future is what we’re focused on.
Find the Loan That’s Right for You.
Undergrad Student Loans
Bring your future into focus with an undergraduate or graduate student loan
Graduate Student Loans
Flexible, affordable options for covering the cost of post-secondary education
Parent Loans
Competitive rates and flexible terms to manage student loan repayment
Low Rates. Flexible Terms.
How to Apply for an ELFI Private Student Loan
If you’ve already completed the FAFSA, explored scholarships and grants, and considered federal loan products, then you’ve already done enough hard work. Let ELFI help make the rest of your college financing decision easy.
We’ve made the undergraduate private student loan process as convenient as getting late-night pizza to your door – because you can start right now on your phone. It’s as easy as:
1. Prequalifying
See your estimated rates within minutes without impacting your credit score.
2. Applying
Select a plan with the rates and terms that fit your needs.
3. Uploading & Signing
Simply upload screenshots or photos of your required documents, then sign your paperwork electronically.
Repayment Options Tailored to You
Immediate
Best for borrowers who want to start repaying their loan right away, with principal and interest payments beginning while still in school.
More Details
- The loan term starts upon disbursement of funds to the school.
- Make principal and interest payments while attending school.
- Full payment of interest and principal will begin 30 to 60 days following disbursement.
Interest-Only
Repayment plan for borrowers who prefer to pay only the interest while in school and during the six-month grace period, with full payments starting after this period.
More Details
- Make interest payments on the loan while attending school.
- Continue interest payments during the six month grace period.
- Full payment of interest and principal will begin 30 to 60 days upon completion of the grace period.
Fixed
Ideal for borrowers who want to make small, manageable payments of $25 while in school and during the grace period, with full payments starting after this period.(2)
More Details
- Make $25 payments while attending school.
- Continue $25 payments during the six-month grace period.
- Full payment of interest and principal will begin 30 to 60 days upon completion of the grace period.
Deferred
Best for borrowers who prefer to delay all payments until after graduation and the six-month grace period, with full payments starting then.
More Details
- No payments required while in school of during the six month grace period.
- Full payment of interest and principal will begin 30 to 60 days upon completion of the grace period.
Preview Your Repayment Options with Our Graduate School Loan Calculator
Enter the desired loan amount and time remaining until you graduate. We’ll calculate your estimated monthly payment options.
STUDENT LOANS CAN FEEL COMPLICATED.
Having a Student Loan Advisor Makes Everything Easy.
When you apply for a student loan with ELFI, you’ll be paired one-on-one with a Student Loan Advisor. They’ll guide you through the entire process from start to finish and are available by phone, text, or email and answer any questions you might have along the way.
The ELFI Difference
Competitive Rates & Flexible Terms
We believe in rewarding financially responsible borrowers by providing competitive rates with flexible terms that make repayment more manageable.
Award-Winning Customer Service
Each customer is paired one-on-one with their own Student Loan Advisor who guides them through their application from start to finish.
No Fees or Painful Waiting
Enjoy an easy online application process without application fees, origination fees, or prepayment penalties for paying off your loan early.
See Your Estimated Rate Risk-Free in Minutes
Before you commit, you can see your estimated rates and repayment options in minutes, without impacting your credit score.
Excellent Customer Experiences
When you combine personalized service, an easy application with no fees, and flexible loan options, you get 5-star customer experiences.
Graduate School Loan FAQs
Do ELFI Student Loans have any fees?
There are no application, origination, or prepayment fees.
What discounts do you offer?
ELFI does not require you to do anything extra to get the best rate we can offer. All borrowers are required to make payments with an electronic or digital transfer. Therefore the auto pay discount is already reflected in your approved interest rate.
How long does the application process take? How quickly can I get my loan?
Our entire application process is online, so completing your application can be done in a matter of minutes. Once you have submitted your application, you’re assigned a Student Loan Advisor who will be available to answer any questions.
Once we have your application and your documentation, we send the loan application information to the school for certification. Your school will verify your enrollment status, academic progress, and your financial aid package to confirm the amount of the loan. Once the school has certified the amount, you must complete your application by accepting your loan terms, and then we will send the funds directly to your school on your behalf.
What repayment options are available for parent loans?
Immediate
- Loan term starts upon disbursement of funds to the school.
- Make principal and interest payments while attending school.
- Full payment of interest and principal will begin 30 to 60 days following disbursement.
Interest Only
- Make interest-only payments on the loan while attending school.
- Continue interest-only payments during the six month grace period.
- Full payment of interest and principal will begin 30 to 60 days upon completion of the grace period.
Fixed
- Make $25 payments while attending school.
- Continue $25 payments during the six month grace period.
- Full payment of interest and principal will begin 30 to 60 days upon completion of the grace period.
Deferred
- While attending school, no payments are required on the loan.
- No payments are required during the six month grace period.
- Full payment of interest and principal will begin 30 to 60 days upon completion of the grace period.
Do I need a cosigner? What are the benefits of having a cosigner?
You don’t need a cosigner when applying for a private student loan with ELFI as long as you qualify by yourself. If you have limited credit history and income, a cosigner with a good credit history and income can improve your chances of obtaining a private student loan.
Do you offer temporary forbearance for an economic hardship?
If you are unable to repay the loan because of financial hardship or medical difficulty, Education Loan Finance may grant forbearance for up to 12 months. Forbearance is at the discretion of ELFI.
Are We a Match?
- The student must be enrolled at least half-time in a Master’s or Doctoral degree program.
- Borrowers and cosigners must be U.S. citizens or permanent resident aliens without conditions and with proper evidence of eligibility.
- Borrower (or cosigner) must have a minimum credit score of 680.
Borrowing Details
The minimum amount required per loan is $1,000. The maximum loan size will be the amount approved by the school for qualified education expenses for the requested academic period. Loans cannot fund more than one academic year of school-certified costs. Additional terms and conditions apply.
We’re Here to Bring Your Future Into Focus
Prequalify to see your estimated rates in minutes without impacting your credit score.
More Student Loan Resources
Eligibility Requirements
See whether you’re eligible for a private student loan and what documents are required
Student Loan Calculator
Explore what repayment might look like with a private student loan from ELFI
Apply Now
Prequalify to see your estimated options or return to an existing application