ELFI (Education Loan Finance) Review (2026)
Rates, fees, customer service, and who this lender is best for — plus a built-in payoff calculator so you can run your own numbers.
ELFI (Education Loan Finance)
Specialist refi lender consistently posting some of the lowest fixed rates in the market.
- Established
- 2015
- Headquarters
- Knoxville, TN
- Funding speed
- Typically 5-10 business days; ELFI assigns a dedicated personal loan advisor
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Quick facts
| Loan types | Federal & private refinance, Parent loans (refi into parent's name OR child's name), Variable, Fixed, 5-20 year terms |
|---|---|
| Minimum credit score | 680 |
| Variable APR range | Approximately 4.86% – 8.99% APR (with autopay, as of early 2026 — confirm at elfi.com) |
| Fixed APR range | Approximately 4.88% – 8.44% APR (with autopay, as of early 2026 — confirm at elfi.com) |
| Eligibility | U.S. citizen or permanent resident, 18+ in a state where ELFI is licensed (49 states + DC), with a bachelor's or higher from a Title-IV-eligible institution. Minimum profile: 680+ FICO, $35K+ income, $10K+ refi balance. |
| Best for |
|
Pros
- ✓Consistently among the lowest fixed rates in the refi market for top-tier borrowers
- ✓No application, origination, or prepayment fees
- ✓Refinances Parent PLUS loans into the child's name (most competitors don't)
- ✓Each borrower gets a dedicated personal loan advisor
- ✓Soft credit pull for prequalification
- ✓Subsidiary of SouthEast Bank — funded by a real depository institution
Cons
- −Refinancing federal loans is permanent — PSLF/IDR/SAVE protections are forfeited
- −Tight underwriting; minimum 680 FICO is firmer than competitors
- −Minimum refi balance is $10,000 (small balances better refi'd elsewhere)
- −No Parent PLUS retention as parent — only retain-as-child or retain-as-parent options
Rate competitiveness
ELFI's fixed APR floor has frequently been 0.10%-0.30% lower than competitors' for the same borrower profile. The advertised range is real for top-tier credit; everyone else lands inside the spread, not at the floor.
Fees
ELFI charges no application, origination, late, or prepayment fees. The autopay discount is built into the published rate.
Customer service
ELFI's dedicated-advisor model gets consistently positive reviews — borrowers tend to deal with the same person from quote to funding. Servicing is handled by Mohela (a known servicer with mixed but adequate reviews).
Bottom line
If you have a strong credit profile and you've already decided to refi out of federal loans, ELFI is one of the most reliable ways to lock in a market-leading fixed rate. Cross-quote against Credible to make sure no other partner is pricing you sharper this week — the 0.10%-0.30% spread compounds over a 10-year term.
Run your numbers before you apply
Plug your balance, rate, and target payment into the calculator below to see what your payoff timeline would look like at the kind of APR ELFI (Education Loan Finance) typically quotes.
Loan details
Principal vs interest
- Principal$35,000
- Interest$12,565
ELFI (Education Loan Finance) FAQ
Is ELFI (Education Loan Finance) a legitimate student-loan refi lender?
Yes. ELFI (Education Loan Finance) is an established, regulated lender (or marketplace) headquartered in Knoxville, TN and operating since 2015. Like any lender, the right answer for you depends on rate, fees, and service — which is why we always recommend comparing at least two or three offers before locking.
What credit score do I need to qualify with ELFI (Education Loan Finance)?
ELFI (Education Loan Finance) publishes a minimum credit score of around 680. Real underwriting also weighs income, employment, and debt-to-income — borrowers near the published minimum often need other strong factors to qualify at the best rates.
Are ELFI (Education Loan Finance)'s rates competitive?
ELFI's fixed APR floor has frequently been 0.10%-0.30% lower than competitors' for the same borrower profile. The advertised range is real for top-tier credit; everyone else lands inside the spread, not at the floor.
What fees does ELFI (Education Loan Finance) charge?
ELFI charges no application, origination, late, or prepayment fees. The autopay discount is built into the published rate.
Will I lose federal protections if I refinance with ELFI (Education Loan Finance)?
Yes — refinancing federal loans into any private lender, including ELFI (Education Loan Finance), is permanent and forfeits PSLF, IDR plans (PAYE/SAVE/IBR/ICR), and federal forbearance/deferment protections. Private-to-private refis don't have this risk because there were no federal protections to begin with.
Who is ELFI (Education Loan Finance) best for?
ELFI (Education Loan Finance) is best for: Strong-credit borrowers focused purely on getting the lowest rate; Borrowers refinancing $50,000+; Parents looking to refi Parent PLUS loans, including transferring them to the student. Borrowers outside those profiles should still get a quote and compare against at least one marketplace alternative.
How do I compare ELFI (Education Loan Finance) against other refi lenders?
Get a soft-pull prequalified rate from ELFI (Education Loan Finance) and at least two other lenders within the same shopping window. Compare APR (not just rate — APR includes the autopay discount and any fees), term length, and any cash-out features. Use the calculator on this page to model the monthly payment for each scenario.
Compare other refi lenders before you decide
Always pull at least two competing offers — even a 0.25% rate difference saves real money over a 10-year refi term.
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- ✓Soft credit pull only
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Modern, fully online refi with a 2-minute application and member benefits.
- ✓100% online application
- ✓Soft pull for prequalified rates
- ✓No fees on most refis
Specialist Refi Lender
A student-loan-only refi lender that consistently posts some of the lowest rates available.
- ✓Student-loan-only specialist
- ✓No application or origination fees
- ✓Flexible 5-20 year terms
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