ELFI Disclosures

Education Loan Finance Program from SouthEast Bank – Loan Interest Rates & Fees

Your Starting Interest Rate (upon approval)

The interest rate you pay will be determined after you apply. It will be based upon your credit history, the loan term you select, and other factors. If approved, we will notify you of the rate you qualify for.

Your Interest Rate during the life of a loan: Fixed-Rate Loans

Your rate is fixed and will depend on the loan term that you select. This means that your interest rate will never change during the life of your loan.

Your Interest Rate during the life of the loan: Variable-Rate Loans

Your rate is variable. This means that your rate could move lower or higher than the rates on your disclosure. This loan has a variable interest rate that is based on a publicly available index, the 3-month London Interbank Offered Rate (LIBOR). Your rate will be calculated each month by adding a margin between 0.29% and 3.91% to the 3-month LIBOR.
Your rate will not increase more than once quarterly. Although the interest rate will vary after you are approved, the interest rate will never exceed 9.95% for the 5-year, 7-year, 10-year, 15-year, or 20-year term.
See your loan agreement for important disclosures about the consequences of refinancing federal student loans with Education Loan Finance.

Interest Rate

  • Your interest rate will depend on the loan term that you select.
  • Interest rates are valid within the preceding 30 days.

Borrower Eligibility Criteria

  • All loans are subject to credit approval.
  • Must be a U.S. citizen or permanent resident alien without conditions and with proper evidence of eligibility.
  • Must be at the age of majority or older at the time of loan application.
  • Must have earned a bachelor’s degree or higher from an Education Loan Finance approved post-secondary institution and program of study.
  • Must reside in a state in which Education Loan Finance is authorized to lend.

Participating Schools

Neither Education Loan Finance nor SouthEast Bank is affiliated with the schools included on the Education Loan Finance Approved Post-Secondary Institution list, nor does inclusion on this list constitute any endorsement or partnership between either party.


Must be at the age of majority or older at the time of loan application.

Bankruptcy Limitations

If you file for bankruptcy you may still be required to pay back this loan.

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