Private Student Loans

At ELFI, we offer a variety of loan options to fit your needs, whether you’re a parent, student, or a postgraduate. Learn more about ELFI’s private student loans and see why your future is what we’re focused on.

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Students graduate with great student loans from ELFI

Find the Loan That’s Right for You

Undergrad Student Loans

Take the next steps towards success with a loan tailored to you

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Graduate Student Loans

Grow professionally through a post-graduate degree with help from ELFI

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Parent Loans

Helping your loved ones fund their education is easy with ELFI

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Low Rates. Flexible Terms.

FIXED RATES FROM

3.69% APR⁽¹⁾

VARIABLE RATES FROM

5.00% APR⁽¹⁾

LOAN TERMS FROM

5-15 Years⁽¹⁾

MINIMUM LOANS OF

$1,000⁽¹⁾

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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.

You can get started now, right from your phone:

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.

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Eligibility Requirements

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.

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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.

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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⁾

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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.

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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.

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 automatically paired one-to-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.

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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.

Private Student Loan FAQs

What makes ELFI a good choice for private student loans?

ELFI private student loans offer competitive interest rates, flexible repayment options, and personalized customer service. We make college financing straightforward and affordable with no application fees, origination fees, or prepayment penalties.  When you’re ready to bring your future into focus, our Student Loan Advisors are standing by.

What repayment options does ELFI offer?

ELFI offers several repayment options to accommodate the different stages of a borrower’s financial journey. These include immediate repayment, interest-only and partial interest payments while in school, and full deferment until after graduation.

How do I know if I’m eligible to apply for a private student loan with ELFI?

Applicants must be U.S. citizens or permanent residents, enrolled at least half-time in an eligible degree-granting program at an approved institution, and have a satisfactory credit history or a co-signer with good credit.  Explore more of our full eligibility requirements to learn more.

What are the rates and terms for ELFI private student loans?

ELFI makes it easy for prospective borrowers to explore rates and terms through the online rate calculator. You can quickly get personalized rate quotes without affecting your credit score. This transparency allows you to compare ELFI’s private student loan options with other financing solutions.

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