Laurel Road Student Loans vs ELFI Student Loans

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	Laurel Road Student Loans	ELFI Student Loans
	Benefits and Features
Variable APR	2.99%-6.42%	5.28% - 8.99%
Fixed APR	3.5%-6.99%	5.48% - 8.69%
Maximum Amount	No maximum	No maximum - depends on your eligibility
Minimum Amount	$5,000	$10,000
Loan Term	5 to 20 years	5, 7, 10, 15, and 20 years
State Residency	All states eligible	All 50 states plus Washington D.C. and Puerto Rico
Degree Requirements	Bachelor's or higher	Bachelor's or higher from an approved post-secondary institution and program of study
Income Requirements	None	$35,000
Employment Requirements	Must be employed or have an offer	Must be employed
Interest Only Payments	No	No
Origination Fees	None	None
Prepayment Penalty	None	None
Can Use a Cosigner	Yes	Yes
Can Release a Cosigner	Varies case by case	No
Auto-Pay Interest Rate Reduction	Yes	No
Soft Credit Check	Yes	Yes
Unemployment Protection	Yes	Yes - up to 12 months forbearance
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Laurel Road: Pricing information from published website as of 03/18/2018 ELFI: Pricing information from published website as of 3/11/2024

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