Education Loan Finance Review

Student loans are responsible for allowing hundreds of students to complete college every year, especially with rising costs in recent years. Thus, student loans are investments for the future of countless families.

With a student loan, students can earn their degrees and the skills needed for their careers and earn higher salaries. Thus, for students who do not have the necessary resources to pay for their college, financing is the best alternative.

There are different types of student loans, some being better than others, so it’s important to carefully review the terms and conditions of each and choose the one that best suits your needs.

To help you, let’s talk a little about the benefits of Education Loan Finance, a student loan option that has won many borrowers, despite the higher rates. See more information about you below.

Who is Education Loan Finance best for?

If you are looking for an online lender that is backed by a traditional bank, Education Loan Finance is the option you are looking for. ELFI is a reliable, renowned, affordable and market-recognized lender, offering suitable financing for students who need resources to finance their studies and pay expenses such as tuition, housing and books.

In addition, at Education Loan Finance you can count on different loan services, with interest rates that may vary according to your credit score.

ELFI also offers transparent lending, which means borrowers have quick access to all the information they need to better manage and manage their finances. Education Loan Finance offers borrowers customized loan options to suit their needs, with a wide variety of plans.

What are the main benefits of Education Loan Finance?

Many people end up in doubt whether or not it is worth taking out a student loan, even if it has become a current necessity. If you want to stay in college and avoid getting into big debt, a student loan is the best option, providing you with the resources you need to cover your expenses.

With that in mind, see below the main benefits offered by Education Loan Finance:

Easy and fast application process: Education Loan Finance has a very simple application process, being done completely online and only after about 24 to 48 hours you already have the request response.

Offers loan calculators to help manage your finances and estimate student loan and refinancing costs.

Website optimized for mobile devices, which facilitates access anytime and anywhere, with a simple and intuitive interface.

Student loan advisor: Education Loan Finance offers a student loan advisor to its applicants, who will provide all the support needed to find the best loan for you and that meets your needs.

Allows you to refinance your loan: in case you need to refinance your loan, Education Loan Finance allows you to do so with a reasonable or even lower interest rate, helping you to control your finances. In addition, you can also apply for the advance payment of your loan.

Available Student Loan Amount: Education Loan Finance offers a minimum loan amount of $1000 and the maximum amount will depend on your credit history and score. For refinancing, the minimum loan amount is $15000.

Loan terms and conditions: Education Loan Finance allows you to choose from four repayment options, namely: 5, 7, 10 or even 20 years. The longer the loan term, the higher the interest rate.

Education Loan Finance Interest Rates and Fees

Interest rate: Education Loan Finance offers student loan interest rates that can range from 1.96% to 11.52%. In the case of refinancing, the interest rate is from 1.86% to 7.98%.

Origination Fee: Student loans offered by Education Loan Finance do not charge an origination fee.

Late Payments and Prepayment Fees: If you are more than 11 days late on your loan payment, you will be charged a late fee of 5% of the overdue amount or $50, whichever is less. On the other hand, Education Loan Finance does not charge a fee for advance payments.