Please note: ELFI customer service will have adjusted holiday hours on 12/28/24 and 12/31/24. Please click the button the learn more.

Learn More
Check Your Rate
Check Your Rate

Private Student Loan Calculator

Input your desired loan amount and expected months until graduation to see your estimated monthly payment based on your preferred term and repayment option. Please note, parent loans for college are only available in 5, 7, and 10-year terms(1). Then, prequalify to see your potential rate in minutes, without impacting your credit score.

Check Your Rate
college student calculating student loan repayment

Fixed Rate Loans

Repayment Option: Immediate Repayment

Term Length 5 Years 7 Years 10 Years 15 Years
Monthly Payment Amount During Deferment Period N/A N/A N/A N/A
APR 8.59% - 14.22% 8.49% - 13.97% 6.95% - 13.22% 7.10% - 13.37%
Monthly Payment Amount During the Loan Term - - - -

For example, a 5-year loan of $10,000 at 8.59% APR would have 60 monthly payments of .

Repayment Option: Interest Only

Term Length 5 Years 7 Years 10 Years 15 Years
Monthly Payment Amount During Deferment Period - - - -
APR 8.29% - 13.22% 8.24% - 12.97% 3.69% - 11.47% 5.49% - 11.62%
Monthly Payment Amount During the Loan Term - - - -

For example, a 5-year loan of $10,000 at 8.29% APR would have 66 monthly payments of $69.08 followed by 60 monthly payments of .

Repayment Option: Fixed Payment

Term Length 5 Years 7 Years 10 Years 15 Years
Monthly Payment Amount During Deferment Period - - - -
APR 8.29% - 13.22% 8.24% - 12.97% 4.50% - 12.22% 5.49% - 12.37%
Monthly Payment Amount During the Loan Term - - - -

For example, a 5-year loan of $10,000 at 8.29% APR would have 66 monthly payments of $25 followed by 60 monthly payments of .

Repayment Option: Fully Deferred

Term Length 5 Years 7 Years 10 Years 15 Years
Monthly Payment Amount During Deferment Period - - - -
APR 8.29% - 13.22% 8.24% - 12.97% 4.50% - 12.22% 5.49% - 12.37%
Monthly Payment Amount During the Loan Term - - - -

For example, a 5-year loan of $10,000 at 8.29% APR would have 60 monthly payments of after the deferrment period of 66 months.

Variable Rate Loans

Repayment Option: Immediate Repayment

Term Length 5 Years 7 Years 10 Years 15 Years
Monthly Payment Amount During Deferment Period N/A N/A N/A N/A
APR 8.59% - 14.22% 8.49% - 13.97% 7.45% - 13.22% 7.48% - 13.37%
Monthly Payment Amount During the Loan Term - - - -

For example, a 5-year loan of $10,000 at 8.59% APR would have 66 monthly payments of . Variable rates may increase after closing.

Repayment Option: Interest Only

Term Length 5 Years 7 Years 10 Years 15 Years
Monthly Payment Amount During Deferment Period - - - -
APR 8.29% - 13.22% 8.24% - 12.97% 5.00% - 11.49% 5.99% - 11.64%
Monthly Payment Amount During the Loan Term - - - -

For example, a 5-year loan of $10,000 at 8.29% APR would have 66 monthly payments of $69.08 followed by 60 monthly payments of . Variable rates may increase after closing.

Repayment Option: Fixed Payment

Term Length 5 Years 7 Years 10 Years 15 Years
Monthly Payment Amount During Deferment Period - - - -
APR 8.29% - 13.22% 8.24% - 12.97% 5.00% - 12.24% 5.99% - 12.39%
Monthly Payment Amount During the Loan Term - - - -

For example, a 5-year loan of $10,000 at 8.29% APR would have 66 monthly payments of $25 followed by 60 monthly payments of . Variable rates may increase after closing.

Repayment Option: Fully Deferred

Term Length 5 Years 7 Years 10 Years 15 Years
Monthly Payment Amount During Deferment Period - - - -
APR 8.29% - 13.22% 8.40% - 12.97% 5.00% - 12.24% 5.99% - 12.39%
Monthly Payment Amount During the Loan Term - - - -

For example, a 5-year loan of $10,000 at 8.29% APR would have 60 monthly payments of after the deferrment period of 66 months. Variable rates may increase after closing.

Terms & Disclosures

1

Private Student Loans: Subject to credit approval. Terms and conditions apply. Interest rates are current as of 12/1/24. Interest rates may be different from the rates shown above and will be based on the term of your loan, your financial history, and other factors, including your cosigner’s (if any) financial history. Variable interest rates may increase after closing. For example, a 10-year loan with a fixed rate of 9.00% APR on an immediate repayment plan would have 120 monthly payments of $12.66 per $1,000 borrowed. Rates are subject to change.