Knoxville, Tenn., February 16, 2022 / PRNewswire / – Educational Credit Financing (ELFI), a division of SouthEast Bank, announced today the successful financing of more than $ 2 billion in loans to refinance and consolidate student loans. This funding has positively impacted more than 25,000 alumni, parents and staff. ELFI customers reported that they are saving on average $ 214 per month or what they will save $ 18,699 in total interest over the life of their loan.1
“Forty-three million borrowers USA guilty from above $ 1.7 trillion on their student loans, and we are committed to helping these borrowers reduce their debt burden and / or repay debt faster, “said Barbara Thomas, Chief Operating Officer of SouthEast Bank and Head of ELFI.” The ELFI team is committed to helping college graduates fix student loan arrears, especially in these unprecedented times. We are proud to have assisted more than 25,000 borrowers in refinancing $ 2+ billion in student loan arrears. Step-by-step guidance to our borrowers through our student loan refinancing program with experienced and experienced student loan consultants (SLAs) that sets us apart in the industry in terms of customer service. We have repeatedly received numerous awards from our clients, as evidenced by our “Excellent 4.9 / 5 rating on TrustPilot”.
ELFI was launched in December 2015 with a team of senior management with more than 30 years of experience in the student loan industry to offer student loan refinancing products to borrowers across the country through a highly automated, state-of-the-art online lending system. With an executive team dedicated to higher education, ELFI focuses on financial well-being and financial awareness. ELFI’s early investments in technology and customer service led to a transparent and seamless user experience from start to finish.
ELFI’s mission of “Expanding a Brighter Future” for its borrowers is supported by their program of student loan advisors. SLAs are individually matched with borrowers after their registration, allowing you to have a single point of contact throughout the process. Such an individualized approach to customer service helps borrowers understand the process and ultimately make informed decisions regarding student loan refinancing options.
ELFI also reached another milestone last year $ 316.23 million ELFI 2021-A securitization financing. With this fourth transaction ELFI funded more $ 1.14 billion in securitization markets and achieved AAA rankings on its Class A notes from S&P and DBRS.
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On financing an education loan
Education Loan Finance, a division of SouthEast Bank, is a leading online lender designed to help borrowers by consolidating and refinancing private and federal student loans into one simple, inexpensive loan. Education Loan Finance believes that providing consumers with comprehensive refinancing and consolidation options gives consumers opportunities on their financial path. To learn more, visit www.elfi.com.
About the Southeast Coast
Headquartered in Faragut, Tennessee, SouthEast Bank has branches throughout East and Central Tennessee, combining modern conveniences with hometown service and decision-making. Our customers enjoy convenient electronic and mobile platforms such as internet banking, remote deposit, automatic fraud monitoring and a global ATM network. Over the past decade, SouthEast Bank, along with its holding company, has donated more than $ 20 million to support secondary and higher education at our local communities and universities across Tennessee. To learn more about SouthEast Bank, please visit southeastbank.com.
1: Average savings calculations based on information provided by SouthEast Bank / Education Loan Finance customers who refinanced their student loans from 25.12.2020 to 31.01.2021. Although these amounts represent the voiced average savings amounts, the actual amounts saved will vary depending on a number of factors.
SOURCE Education loan financing