Refinancing with Elfi


ELFI is a student loan debt consolidation program offered by SouthEast Bank, which is based in Tennessee, designed to assist borrowers through consolidating outstanding education loans into one single loan that effectively lowers your costs of education and/or makes repayment very simple. They have over 30 years of experience in the student loan industry. Their management team knows what recent graduates need: manageable payments, affordable rates, and flexible terms.


  • No cosigner is required but option to apply with one if needed
  • Cosigner can be released from existing loans financed by Elfi
  • There is not a minimum GPA requirement
  • There is not a maximum loan amount
  • Interest rate reduction of .25% for autopay
  • Loans are discharged due to death
  • Parent plus loans can be transferred from parent to graduate
  • No origination fees
  • No prepayment penalty


  • Cosigner cannot be released from refinanced loans with Elfi
  • Can not refinance if you did not complete your degree
  • Minimum loan amount is $15k


  • Loans are tax deductible
  • Forbearance options


  • Loans for undergraduate and graduate degrees are both eligible
  • A personal reference is required
  • Parent plus loans can be refinanced
  • If you previously defaulted and rehabilitated your loan you’re eligible
  • Residents of any state except AZ and WI are eligible
  • Minimum loan amount is $15k
  • Minimum annual income is $35k
  • Borrower can not be delinquent on current loans
  • Borrower can not apply while still enrolled in school
  • You must be currently employed
  • Must have a bachelor’s degree or higher from an eligible institution
  • Refinance federal and private education loans


  • Variable rates starting at 2.10% APR
  • Fixed rates from 3.35% APR
  • It takes about 10 minutes to apply
  • No interest only payment options
  • Minimum credit score is 680
  • No application fees, no origination fees and no prepayment penalties.
  • Flexible repayment terms available for 5, 7, 10, 15, and 20 years
  • Parent Loan refinance program offered for both fixed and variable rate loan products with terms of 5, 7, and 10 years

Visit Elfi

If you’re considering refinancing your student loans use the links below to learn more. Check out the article “Comparing student loan refinancing options”. Here I lay out all the information you need to know to decide which company will best suit your needs.